What changed in your business over the last year and what was your biggest achievement?
2025 marked a year of broad-based development for the Egyptian Exchange across regulatory, operational and technological fronts, focused on enhancing market efficiency, competitiveness and sustainable growth.
We strengthened the investment ecosystem by activating subscription mechanisms for capital increases through EGX systems, accelerating procedures and facilitating submissions. Account-opening processes for foreign investors were simplified, while exchange membership expanded to include additional trading activities such as derivatives and carbon certificates. EGX also enhanced its positioning within international indices, supported by a government package of measures, including tax incentives for listings and IPOs.
From a performance perspective, EGX’s market capitalisation reached approximately USD 62 billion, reflecting a 45.8 percent increase since the beginning of 2025, the highest growth rate among major Arab markets. Institutional cooperation was reinforced through an organisational partnership with GAFI to accelerate capital increases and incentivise listings and IPOs. Regulatory procedures for the healthcare and pharmaceutical sectors were also improved through simplified acquisition regulations.
The IPO framework was upgraded to allow order registration through all brokerage firms, enabling execution and surplus allocation the day after close, supported by internal system enhancements.
We also upgraded the disclosure system to enhance transparency and insider-trading monitoring and established a dedicated registry for investor relations officers. We also launched a plan to develop the SME market, aimed at improving trading activity in less liquid stocks and supporting progression toward the main market.
Trading systems and market mechanisms were enhanced through market reclassification and index linkage, enabling margin and real-time trading for active and medium-liquidity stocks. We contracted with Nasdaq to implement new trading and surveillance systems scheduled to go live in 2026, amended the tick size methodology and upgraded debt instruments and GDR-trading systems, while continuing to simplify investor onboarding.
In terms of product diversification, we launched the EGX33 Shariah Index and the EGX 35-LV Low-Volatility Index, both attracting strong interest from fund managers. We also launched the Egyptian Climate Exchange to enable carbon-credit trading, developed a sustainability index and progressed work on introducing financial derivatives, supported by the establishment of a specialised CCP.
We promoted financial literacy through 13 conferences under the “EGX Development” initiative, the launch of the “EGX Dialogue” platform and partnerships with universities and government entities. International cooperation was strengthened through collaboration with the Egyptian Commercial Service and the Ministry of Immigration.
In 2025, seven new companies were listed, five on the main market and two on the SME market, with two companies transitioning to the main market. Sixty companies increased capital by EGP 66 billion, while 80 companies distributed nearly EGP 73 billion in cash dividends. Average daily trading volume rose by more than 57 percent year on year, and investor registrations reached 276,000, up around 20 percent, with investors aged 18–45 representing 79 percent of new registrations.
What is your most important project this year (regulatory or otherwise)?
Our most significant project this year is upgrading the main trading platform and launching the next generation trading system, MME, which offers substantial advantages including faster order reception, matching, comparability across markets, inclusion of more trading products and financial instruments and execution particularly during peak trading periods. Investments in technology doubled in 2025 and cybersecurity initiatives rose by around 40 percent.
We are advancing several strategic initiatives, including the introduction of financial derivatives, activation of market-making mechanisms, development of short selling, launch of a sustainability index and expansion of digital systems that support brokerage firms to enhance operational efficiency and promote financial inclusion. We are also introducing XBRL technology as a pivotal step in the digital transformation of financial reporting and data analytics.
What are the most prominent opportunities for you?
The key opportunities lie in increasing market depth through new financial products, attracting a broader investor base, leveraging digital transformation and promoting financial inclusion. We also see opportunities in engaging with young people more actively and expanding international cooperation to strengthen the Egyptian market's presence in global indices.
What are your infrastructure priorities for 2026?
EGX’s investments in technology recorded growth of around 100 percent over the past year, while cybersecurity investments increased by 40 percent during the same period. During this phase, our primary focus is upgrading the main trading platform, which is scheduled for launch in 2026. These developments include the Government Fixed Income Trading system (GFIT), among other upgrades. We will continue to advance the short-selling mechanism and finalise the regulatory and technical framework necessary for the financial derivatives market. These initiatives are pivotal for increasing market depth, enhancing efficiency and offering more sophisticated financial instruments such as futures contracts.
In addition, we are planning to launch a joint index combining Sharia and sustainability criteria, alongside cooperation with the Central Bank of Egypt (CBE) and the Ministry of Finance to introduce treasury bills and bonds indices.
What excites you most for 2026?
The launch of the new trading platform. We’re also looking forward to the launch of market-making mechanisms and continuing our efforts to raise financial awareness and promote financial literacy. These transformational measures position EGX to expand access, enable long-term capital formation, and deepen liquidity, marking the evolution of a more resilient and globally relevant capital market.
Disclaimer:
The views, thoughts and opinions contained in this Focus article belong solely to the author and do not necessarily reflect the WFE’s policy position on the issue, or the WFE’s views or opinions.
