Regulatory Alerts2010-01-01
Capital Market Authority Board of Directors Decision No. (69) of 2010
The Capital Market Authority issued Decision No. 69 of 2010 to amend the trading rules for unlisted securities under the Automated Order Acceptance System. The decision replaces the previous basic determinants with new provisions requiring brokerages to verify client identity and ownership, ensure trades are free from manipulation, and use exchange-prescribed forms disclosing specific risks. It establishes trading hours from 2:45 PM to 3:15 PM on Mondays and Wednesdays, prohibits price limits and closing/opening price calculations, mandates T+3 settlement, and requires the Egyptian Exchange and Egyptian Clearing to implement approved disclosure procedures effective July 1, 2010.
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