Aggregated News From Investment Management Regulators

The Authority issued a periodical memo regarding practicing intraday trading mechanism

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In accordance with the provisions of Law no. 10 of 2009 regarding regulation of non-banking, financial markets and instruments , and in light of the Authority’s  duty to maintain  the integrity and stability of non-banking  financial markets,
In light of the provisions of Article (1) of the Executive Rules set for practicing intraday trading mechanism attached to FRA’s BOD decision no. (67) of 2012 which canceled FRA’s BOD decision  no. 24 of 2008 and its amendments,

And due to the Authority’s keenness to spread financial investment awareness; and in response to the result of Securities Division’s meeting with FRA’s leaders,

FRA has issued a periodical memo no. (3) of 2018 regarding the minimum amount of insurance to be deposited by the brokerage companies to practice  intraday trading mechanism . The memo stated that the minimum amount to be deposited under settlement account according to intraday trading mechanism whether for listed securities in Egyptian pounds or in foreign currency or both shall be one million pounds or the equivalent in foreign exchange, and not less than (25%) of the average value of the company’s transactions according to the mechanism referred to, and according to the currency in which the security is listed.

The Authority spares no effort to take any action that will increase the volume and value of trading in non-banking financial markets in order to achieve maximum market liquidity.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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