Resuming the commodity stock exchange depends on the Supply Ministry's current direction

Resuming the establishment of a commodity stock exchange depends on the direction of the recently-appointed Supply Minister Mohamed Ali El-Sheikh, who was appointed to the office in September, according to Sherif Samy, the chairperson of the Egyptian Financial Supervisory Authority (EFSA).
Former supply minister Khaled Hanafy was enthusiastic to cooperate with the Finance Ministry to support a draft of articles regulating the commodity stock exchange and submit them to Investment Minister Dalia Khorshid.

Samy told Daily News Egypt that EFSA has not contacted the current minister of supply yet to consult with him about the commodity stock exchange. It is probable that the file will be presented to him by the ministry to determine its importance among the ministry's priorities.

Samy added that activating futures is the responsibility of EFSA alone, where it is considered a market to trade contracts derived from the registered securities. Transactions are carried out based on a prior agreement between the buyer and the seller on a certain price shortly before the time of implementation. Both parties must stick to the agreement regardless of the price on the delivery date.

The draft of the futures stock exchange stipulates that the latter be in the form of a joint stock company operating under the supervision of EFSA, and also allows the Egyptian stock exchange to establish a joint company to carry out the activities of futures stock exchanges and the contracts derived from registered securities.