Aggregated News From Investment Management Regulators

The Authority issued a periodical memo regarding practicing intraday trading mechanism


Please complete the required fields.

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.

Source link

Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

Recent Articles

SEC, NASAA, and FINRA Offer Free Resource to Securities Firms to Assist in Detection, Prevention and Reporting of Financial Exploitation of Seniors

Regulators Providing Free Training in Recognition of World Elder Abuse Awareness Day; Program Aims to Assist Firms in Implementing Requirements of Senior Safe Act In recognition of World Elder Abus

Six Charged in Silicon Valley Insider Trading Ring

The Securities and Exchange Commission today announced insider trading charges against a Silicon Valley trading ring whose members generated nearly $1.

Portfolio Transfer from Yarden Uitvaartverzekeringen N.V. to Dela Natura- en levensverzekeringen N.V.

Yarden Uitvaartverzekeringen N.V. with its registered office at Transistorstraat 10, 1322 CE, Almere, the Netherlands, intends to transfer its entire life insurance portfolion by way...

Get the latest from Regulatory.News in your inbox!