FILE - Employees in the EGX following performance of the trading session on December 12, 2017 FILE - Employees in the EGX following performance of the trading session on December 12, 2017

FRA, EGX review mechanism of stock loans

Mon, Sep. 17, 2018
CAIRO - 17 September 2018: Financial Regulatory Authority (FRA) and EGX officials have reviewed a number of proposals to activate the mechanism of stock loans and launch the derivatives market.

An agreement has been reached so that this is done before the end of this year, an FRA statement said Monday.

This entails amendments to the trading regulations ahead of activating the new mechanisms.

Under the deal, the range of price limits should be expanded to 20 percent daily, according to the statement.

Temporary suspension of restricted securities should be 10 percent instead of 5 percent, it added.

Margin trading has also been allowed under that agreement, read the statement.
 
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