Mohamed Farid, Chairperson of the Egyptian Exchange and the Federation of Euro-Asian Stock Exchanges (FEAS), has headed the extraordinary general assembly of the Federation in Armenia.
Farid asserted that the FEAS works on enhancing the capabilities of member exchanges in a way that contributes to increasing their competitiveness. The Federation also works on unifying the rules governing registration and trading on member exchanges, as well as facilitating investment procedures.
The meeting discussed the Federation’s financial statements and strategic plan, which aims to develop its business, work to attract new members and increase the Federation’s revenues through developing services, as well as working to raise the efficiency of employees in stock exchanges and member clearing companies through partnership with international institutions such as the European Bank for Development and Reconstruction (EBRD) and holding seminars and workshops for members of the union to transfer knowledge and experiences among members and increase the activity of training courses, along with increasing efforts to raise awareness levels in the financial markets and spread the investment culture for existing and willing investors and to introduce eligible companies for registration to achieve its goals towards growth, expansion and increase the volume of its business by facilitating the process of their access to the required financing through the stock market platform.
The union is currently working collectively in coordination with all members to formulate educational materials in several languages to familiarize school and university students with the basics of saving and investment in order to increase the number of investors, and then reflect on the strengthening of the market trading and trading, in addition to the fact that these students are businessmen of the future, whose companies can be listed and put on the market for expansion and growth.
The FEAS is one of the largest regional federations with a market capitalization of $18.8trn. The annual turnover of the members of the federation is about $873.5bn and the number of securities listed on the federation’s stock exchanges is about 3,626 securities, including stocks and bonds.