Home Egypt FRA EG FRA reduces services fees on trading operations – Sunday 10/5/2020

FRA reduces services fees on trading operations – Sunday 10/5/2020

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• Dr. Omran: The Egyptian Capital Market has become the least-cost market in terms of services fees on trading operations

Dr. Mohammed Omran – FRA Chairman reveals that today morning FRA’s BOD approves the reduction of services fees on trading operations so as to increase the volume of trading in the Stock Exchange. This decision comes in line with the Prime Minister’s Decrees that was issued last week upon  a proposal presented by FRA’s BOD to reduce transactions cost in the Egyptian Stock Exchange to become a more competitive market among its counterparts in regional and international capital markets.

Dr. Omran says that FRA’s BOD decision no.77 of 2020 reduces services fees on trading operations to be 5 per 100,000 from the value of each transaction with a maximum limit of 250 EGP. Also, the said decision reduces transaction costs of bonds, sukuk and other debt instruments listed on the Stock Exchange by 50%.

FRA’s Chairman adds that the decision comes with the aim of developing the Capital Market and working to attract more investments in line with the Prime Minister’s decision package that reduced services’ fees  collected from the market institutions (Egyptian Stock Exchange – MCDR – Investors Protection Fund) for operations held on the Exchange by more than 40% of transactions cost.
In this respect, the Egyptian Capital Market will become the least-cost market in terms of services fees on trading operations compared to other Capital Markets.

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