- May 16, 2023
- Posted by: ASEA
- Category: News
The Egyptian Exchange (EGX) won two annual awards from the Arab Federation of Capital Markets (AFCM) for 2022 by The Global Economics; “Best Arab Exchange in terms of volume-weighted return” and “Best Arab Exchange in terms of turnover ratio.”
Rami El-Dokany, Executive Chairman of EGX, received the two awards at the annual conference of AFCM which took place in Muscat – Oman on May 9-10, 2023.
El-Dokany said, “These two awards reflect the strong performance of EGX and its ability to overcome the challenges we faced beginning of last year”. He added, “Despite the challenge as the market main index – EGX30 reached its lowest level at the beginning of July, the market rebounded and the performance of its main index, its volumes and turnovers improved from that point onwards.”
He stated that EGX’s new strategy was implemented with the full support of Financial Regulatory Authority (FRA).
EGX30 index annual return for 2022 was 22.2%, and its return from its lowest point of the year till year end was about 69%. This puts EGX as the best Arab exchange in terms of main index return. Total trading turnover rose to a historical level of EGP 1.084 trillion for the first time in EGX history putting EGX as the third largest Arab exchange in terms of trading turnover with a value of USD 59 billion. The turnover ratio of EGX reached 152% in 2022; the best among Arab exchanges for the second year in a row.