The Chairman of the Capital Markets Authority, Governor of BDL Riad Salame announced the launching of the Electronic Trading Platform (ETP) after completing the bidding phase that had three financial groups submit applications to the CMA. Chairman Salame, made the announcement at the sidelines of the Barclays Emerging Markets Conference in London in the presence of a wide range of bankers, economists and international financial institutions, giving this platform an international dimension from day one.
After receiving the highest points according to predefined criteria, Chairman Salame announced that Bank Audi Group and Athex Group received the license to setup the Electronic Trading Platform. He pointed out that this decision taken by the Board Members of the Capital Markets Authority, held on 18/6/2019, came after reviewing the results of the evaluation of the offers submitted by the three parties that took place in the presence of their representatives to ensure the highest standards of transparency.
This platform is one of the most important achievements of the Capital Markets Authority after three years of continuous work aimed at strengthening the foundations of the financial sector in Lebanon. Such a development would ensure that active financial markets attract the necessary liquidity for the growth of various economic sectors and open multiple options to obtain required funding for SMEs and other corporations in Lebanon.
Chairman Salame pointed out that the electronic platform will allow the Lebanese markets to list, trade and invest in all types of financial instruments, currencies and precious metals. This platform will have regional and international presence in cooperation with other exchanges in the world. In addition, it will attract investments from the Lebanese Diaspora, which will enable them to trade and invest in Lebanon through their smart phones wherever they are.