Aggregated News From Investment Management Regulators

In the first meeting of the Capital Market Advisory Committee: The Authority adopts the market proposal to amend some rules related to intraday trading


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• Dr. Omran: Adding EGX 30 Certificates to list of marginable securities

Within the framework of the Authority’s effort to communicate with different parties operating in the capital market through the Capital Market Advisory Committee which is reformed by FRA’s Board in its last session, the  first meeting of the Committee was held in the presence of Dr. Mohammed Omran, FRA’s  Chairman and in  participation of its members who elected Mr. Soliman Nazmi as Chairman of the Committee.  The meeting discussed number of proposals received from various market parties and from the Egyptian Stock Exchange as well.

 Dr. Omran revealed that the committee’s discussions   resulted in FRA’s adoption of number of suggestions in the interest of investors. In this respect, the Authority agreed in principle on the committee’s recommendation to regulate the rules governing intraday trading mechanism, which increase the maximum limit of  THE client to be 1/10000 instead of 20000/1 and allowing  him to repeat dealing  within the said percentage during intraday trading  session. The said proposal shall be presented to the Board of Directors at the next meeting to proceed with the amendment procedures.  Also, the Chairman approved the Committee’s recommendation  regarding adding  Index Fund certificates to List “ B” of marginable securities list  and  this shall be done concurrently with the updated lists which include shares that are allowed to be engaged in specialized activities.

On the other hand, the Authority’s Chairman asked the Advisory Committee to consider Securities Lending and Borrowing mechanism, taking into account various aspects related to the activation of this mechanism in the Egyptian market. The Advisory Committee shall consider the appropriate timing for introducing it and its priority in the capital market agenda, the expected positive and negative impacts. Also, the committee shall express its opinion on the rules governing this mechanism, including those associated with identifying lending facilities and whether it is deposited centrally or with companies operating in the field of securities and licensed to practice this activity through custodians. In addition , the committee shall  set  the role of market parties  and size of the transaction  in the market and the minimum limit of  securities in terms of volume and market value in order to introduce this  mechanism,  this is in addition to the need for amending  the Executive  Regulations in the field of Securities lending and aspects of amendment, if any.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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