Regulatory Alerts2012-01-01
EFSA Board of Directors Decision No. (67) of 2012 Regarding the Intra-Day Trading Mechanism for Shares
The Egyptian Financial Supervisory Authority (EFSA) issued Decision No. (67) of 2012 to formally authorize and regulate intra-day trading of shares on the Egyptian Exchange. The decision requires brokerage firms to obtain regulatory approval, satisfy stringent financial and governance standards, and comply with real-time settlement, mandatory position reservation, and daily trading limits capped at one twenty-thousandth of a listed company's total shares per client. It designates the Egyptian Exchange and the Central Depository and Registration Company to deploy automated trading and surveillance systems, immediately cancel non-compliant orders, and submit daily operational and compliance reports to the Authority.
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