Egyptian investors can now easily buy and sell shares on the Nasdaq Dubai exchange through a newly created link with Misr for Central Clearing, Depository and Registry (MCDR), the Dubai bourse said in a statement on Monday, a step to further facilitate dual listing.

     

    The new link is particularly useful for individual investors, who can use their Egyptian broker to trade quickly and seamlessly on Nasdaq Dubai through Cairo-based MCDR, using Egyptian pounds.

     

    “As the Middle East’s international exchange, Nasdaq Dubai opens a door to the global capital markets for investors based in the region,” Mohammad Sulaiman Abdul Salam, chairman and managing director of MCDR, said in a statement.

     

    The new link enables Egyptian brokers to trade Nasdaq Dubai securities through a Nasdaq Dubai member, making use of MCDR’s technical relationship with the exchange.

     

    MCDR acts as settlement agent and custodian through its connection with Nasdaq Dubai’s central securities depositary, to support the transfer of shares between Egypt and Dubai.

     

    “Nasdaq Dubai equities offer Egyptian investors new opportunities that are regulated to international standards. Our link with MCDR is a significant step forward in Dubai’s expanding capital markets ties with Egypt, which also include opportunities for Egyptian companies to dual-list securities on Nasdaq Dubai,” Hamed Ali, chief executive of Nasdaq Dubai, said,

     

    Nasdaq Dubai’s growing relationship with Egypt includes the primary listing of Orascom Construction, which took place in March 2015 and involved a dual-listing link with Egypt enabled by MCDR.

     

    Beltone Market Maker, a subsidiary of Beltone Financial Holding, one of Egypt’s leading investment banks, joined Nasdaq Dubai as a member to provide market making services in August 2015.

    MARKET STATUS: CLOSED

     

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