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


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• 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).

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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