Regulatory Alerts2011-01-01
Authority Board of Directors Decision No. (107) of 2011
The Egyptian Financial Supervisory Authority (EFSN) issued Decision No. (107) of 2011 to amend specific provisions of its 2008 regulations governing Intra-Day Trading. The decision mandates that brokerage firms deposit at least 25% of their average transaction value (minimum one million Egyptian pounds) or provide an equivalent bank guarantee with the Egyptian Depository, Central Clearing and Registration Company, while requiring management commitments to maintain this ratio if trading volumes increase. These updated capital and guarantee requirements are weighted at 100% for net liquid capital calculations and take effect immediately upon publication.
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