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EGX to launch treasury bond index on Tuesday

EGX to launch treasury bond index on Tuesday

ArabFinance: The Egyptian Exchange (EGX) will launch on Tuesday an index for trading the treasury bonds (T-bonds) listed on the bourse, according to a press release.

The methodology of the new index is subject to the approval of the EGX’s Index Committee, the release added.

The T-bonds indices consist of a general index, which will be launched tomorrow, and four sub-indices that will be launched soon.

The new indices include the highest-liquidity bonds, upon which the market value of the bond would determine the weight of each issuance in the index, taking in consideration the yields of bonds and due coupons.

The T-bonds indices have been calculated starting from January 3rd, 2021, at a value of 1,000 points, the release highlighted, pointing out that the T-bonds indices are being monthly reviewed by a specialized committee at the EGX.

Moreover, the new T-bonds trading system includes the mechanism of “Request for Quotation”, which enables main traders of requesting bonds’ pricing, in addition to, the mechanism of “Screen Quotation” that allows traders to set a price for any bond they seek to sell or buy.

This move comes as part of the EGX’s efforts to develop the indices that measure the performance of the traded securities, which reinforces the diversification of available investment products for all investor segments.

 

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