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MCDR connects with Link up Capital Markets Group

MCDR organized a workshop at Four Seasons Hotel on the 9th December, 2009, hosting Link up Capital Markets Group. The workshop was attended by Dr. Zeyad Bahaa ElDin, EFSA Chairman (Egyptian Financial Supervisory Authority), MCDR Chairman and Board of Directors, and participants of the Egyptian and Arab markets.

Link up Capital Markets group consists of eight European clearing houses representing 50% of the total trading in Europe, in addition to Strate depository from South Africa, with a capital of 10 million Euros.

MCDR is considering the membership of the Group, as a way of linking the Egyptian market with the international markets. It's worth mentioning that the membership of the group allows performing off border settlement accurately, with 30% less expenses, in addition to reducing the risk rate of settlement. Hence, foreign investments will find a suitable and trustable environment in the Egyptian market, which in turn increases the efficiency of the market performance, and the rate of foreign capital flows.

Although Link up Capital Markets started in March 2009, it could attract several clearing houses all over the world. Currently, negotiations are being held with DTCC, the American Depository, and Euroclear, to join the group, which will increase the trading size by 40%