Regulatory Alerts2011-01-01
Decision of the Board of Directors of the Authority No. (106) of 2011
The General Authority for Financial Supervision issued Decision No. (106) of 2011 to amend the regulatory framework governing intra-day trading on the Egyptian Exchange. The decision requires brokerage firms to deposit at least 25% of their average transaction value (minimum one million Egyptian pounds) or provide an equivalent bank guarantee with the Central Depository and Registration Company, subject to a 100% risk weight when calculating net liquid capital. Furthermore, it restricts individual client daily trading to one twenty-thousandth of a listed company's total shares and caps a brokerage firm's daily transaction volume at four times its deposited clearing funds or bank guarantee.
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