egX Group Inc.
TSX VENTURE : GFG

egX Group Inc.

October 18, 2007 12:32 ET

egX Group Updates Milestones

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2007) - egX Group (TSX VENTURE:GFG) is pleased to report on the milestones achieved as we prepare to launch egX Canada. Significant work has been undertaken to achieve these milestones and we are proud of our accomplishments:

- Recognition Order from the British Columbia Securities Commission (BCSC) under Section 24 of the Securities Act (RSBC) as an exchange (March 2007).

- Agreement with OMX Group to develop and manage its electronic trading system (March 2007).

- Entered into an agreement with a business consortium from the European Union to conduct a design study with a view to develop and implement an egX marketplace for Ireland and the United Kingdom
(June 2007).

- Applied to the Ontario Securities Commission to be able to operate as an exchange in Ontario (June 2007).

- Applied to the Autorité des marchés financiers for authorization to carry on securities exchange activities in Quebec (August 2007).

Future milestones to be achieved - as egX Canada prepares to launch, the Company is actively advancing projects to achieve these additional key milestones:

- Agreement with CDS Clearing and Depository Services Inc. for trade clearing and settlement services

- An order from the Ontario Securities Commission to be able to operate as an exchange in Ontario

- Authorization from the Autorité des marchés financiers to carry on securities exchange activities in Quebec

- Satisfy the remaining pre-operating conditions under the BCSC's Recognition Order:

-- Test Connectivity with CDS Clearing and Depository Services Inc.

-- Agreement with RS and test connectivity Inc. for the provision of marketplace regulations services

-- Complete all trading platform testing with the financial community and obtain independent reports on trading platform and egX's non-trading systems.

- Secure provision of market data dissemination services.

- Complete the sign-up of core Investment Dealer firms.

- Process initial listing applications.

- Successful launch of egX Canada.

The Company also looks forward to completing the Design Study for Ireland and the United Kingdom markets. Management continues to hold discussions with parties interested in establishing egX Marketplaces in key international financial centers.

About egX Group

egX Group is developing the egX, a global securities marketplace designed for the listing and trading of real estate securities and related financial products. The Company is preparing to launch its first marketplace in Canada under egX Canada, a wholly-owned subsidiary of egX Group. To achieve global presence and to penetrate international markets under the egX brand, egX Group is partnering with interested parties established in the key international financial centers in Europe, the Middle East, the Asia-Pacific region, and the Americas.

For additional information, visit us at www.egXWorld.com, contact the Company at 604-681-7210, or review the most recent Annual Information Form filed on SEDAR at www.sedar.com. We also invite you to read the Company's business plan made available on the front page of our website.

On behalf of the Board of Directors

Leo Chamberland, Director

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information

  • egX Group
    Doug McFaul
    Chief Operating Officer
    (604) 681-7210
    Website: www.egXWorld.com