CAIRO: Misr Company for Settlement, Clearance and Central Depository (MSCD) signed evening a new contract with Atos-Euronext Company earlier this week to set up a new financial information operation for the first time in Egypt to provide its services to local security brokerage companies and banks.
Hany Seri-Eddin, chairman of the Capital Market Authority, stressed the importance for development of the capital market information services in general, including brokers’ access to financial information.
Seri-Eddin asserted that the Egyptian market is set to enter a new phase of development in the information technology services, noting that such developments should improve performance at the securities market.
“The new operation will contribute to the development of the capital market in Egypt and improve transactions and settlement processes in a professionally efficient and secure manner, Seri-Eddin said.
“The contract is further evidence on the resilience of Egypt’s stock market and its ability to attract international investments, he added.
The chairman of the Capital Market Authority highlighted the need for strict data security in trading transactions.