EGID, Iraq Stock Exchange Seek Joint Cooperation

(MENAFN- Daily News Egypt) Egypt for Information Dissemination (EGID) and the Iraq Stock Exchange (ISX) have discussed potential joint cooperation frameworks, with the Egyptian firm offering its expertise in information and operational systems to the Iraqi market.

Yasser El-Alaily, EGID's Managing Director and CEO, met with Faisal Al-Haimus, Chairperson of the Iraqi Securities Commission, Thaer Adnan Hashem, ISX Chairman, Taha Abdulsalam, ISX CEO, and their delegation at the company's headquarters in New Cairo.

Both parties expressed interest in activating joint cooperation frameworks and reached a preliminary agreement to address the Iraqi market's needs for information and operational systems developed by EGID.

El-Alaily highlighted the company's success in developing advanced, high-efficiency, and competitive systems that meet the highest international standards.

“Our team has successfully developed a number of systems, including the back-office system for brokerage firms, the order management and execution monitoring system, the commodities trading system, the association and board management system, and various other systems related to capital markets,” El-Alaily said.

He added,“These systems can meet the needs of capital markets in sister countries, representing a new step towards integration between these markets and the technological infrastructure. This will strengthen joint investment.”

EGID is a fully owned subsidiary of the Egyptian Exchange (EGX) and has over the past 24 years acted as the sole authorized data provider for EGX market data.

The potential cooperation between EGID and the ISX could represent a significant step towards advancing the Iraqi capital markets while strengthening regional economic ties.

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