Regulatory Alerts2009-01-01
Circular No. 2 Dated July 18, 2009
The Egyptian Financial Supervisory Authority (EFSB) clarifies that funds deposited by securities brokerage firms for intra-day trading are strictly frozen for settlement purposes and cannot be utilized for other corporate obligations. Consequently, the Authority mandates that these allocated security amounts must be weighted by a factor less than one when calculating the brokerage firm's financial solvency. Additionally, firms must cover any settlement shortfalls before the next trading session to maintain compliance with intra-day trading system requirements.
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