Post by saladinarabi on Jul 7, 2009 14:27:43 GMT 4
Egypt has decided to postpone the launch of its financial derivatives exchange to 2011 from the end of 2009, Riyadh-based Al-Jazirah daily reported on Tuesday July 7, 2009.
The delay was due to the global crisis fallout that led to a decline in the volume of trading in financial markets, the paper reported citing Mohamed Omran, deputy chairman of the Egyptian Exchange.
The derivatives exchange will start with futures' transactions tied to the market index, and dealings in such financial instruments as swaps and options will be studied at a later time, he added.
The delay was due to the global crisis fallout that led to a decline in the volume of trading in financial markets, the paper reported citing Mohamed Omran, deputy chairman of the Egyptian Exchange.
The derivatives exchange will start with futures' transactions tied to the market index, and dealings in such financial instruments as swaps and options will be studied at a later time, he added.