Regulatory Alerts2015-01-01
Decision of the Board of Directors of the Authority No. (63) of 2015
The Egyptian Financial Supervisory Authority issued Decision No. (63) of 2015 to amend the financial solvency standards applicable to licensed market maker companies. The amendment replaces the regulatory calculation for settlement transactions by requiring that purchased or sold securities under settlement be weighted at 100% and valued daily at 90% of their market closing price. Additionally, it formally codifies the obligation for market makers to continuously maintain a net liquid capital reserve of no less than 10% of their total weighted liabilities.
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