Aggregated News From Investment Management Regulators

FRA’s Chairman issues an “executive” decision to amend and add requirements and procedures for licensing market maker activity

Report/Flag

Please complete the required fields.



• Dr. Omran: Allocating 20% of the average daily trading volume and a minimum of 250 thousand EGP for Securities Market Makers (SMMs)

In an effort to introduce new tools and increase the liquidity of the Egyptian Stock Exchange, Dr. Mohamed Omran – FRA’s Chairman issued regulatory decision no. 1200 of 2018 to amend and add licensing requirements for companies stated in Article (27) to practice market maker activity.

FRA’s Chairman said that the decision allocates at least ten million EGP for each Exchange Traded Fund (EFTs)   as well as cash amount of not less than (20%) of the average daily trading values of securities market makers. In all cases, this percentage shall not be less than two hundred and fifty thousand EGP for the listed securities and about one hundred thousand EGP for the listed securities of small and medium-sized enterprises. The Exchange shall review this percentage every quarter at least.
Dr. Omran added that the rules oblige the company licensed to practice market maker to separate market maker activity from other activities carried out by the company.  Moreover, the company shall maintain independent accounts and registries for each of Exchange Traded Fund (EFTs)   and securities market makers (SMMs).
 

Source link

Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

Recent Articles

SEC Charges Father-Son Duo and Associate in Market Manipulation Schemes Resulting in a New Jersey Deli with a $100 Million Valuation

Washington D.C., Sept. 26, 2022 — The Securities and Exchange Commission today charged Peter L. Coker Sr., Peter L. Coker Jr., and James T.

WWW.FINCHES-INVESTMENT.XYZ / DIGITALCOIN

  • Scams and Fraud
  • +2Licensing/Registration/Certification/Authorization/Membership, Unauthorized Firms
We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Get the latest from Regulatory.News in your inbox!

×