Egypt's Stock Exchange (CASE) is comprised of two exchanges, Cairo and Alexandria, both of which are governed by the same board of directors and share the same trading, clearing and settlement systems. The Alexandria Stock Exchange was officially established in 1888, with Cairo following in 1903.
Both exchanges were very active in the 1940's, and the combined Egyptian Stock Exchange ranked fifth in the world. The central planning and socialist policies adopted in the mid 1950's led to the Stock Exchange's dormancy between 1961 and 1992.
In the 1990's, the Egyptian government's restructuring and economic reform program resulted in the revival of the Egyptian stock market, and a major change in the organisation of the Cairo and Alexandria Stock Exchanges took place in January 1997 with the election of a new board of directors and the establishment of a number of board committees.