As part of The Egyptian Exchange (EGX) and The Egyptian Financial Regulatory Authority (FRA) efforts for the development of the Egyptian capital market, EGX’s proposal permitting brokerage firms to receive orders via e-mail or mobile text messages has been approved by FRA provided that these means are stated in the contract and client’s declaration of responsibility documents. This is one of the measures taken by the Egyptian market in light of the global circumstances markets are going through and the precautionary measures taken to reduce the spread of covid-19.
FRA emphasized the importance of insuring the speed and efficiency of receiving orders, notification of receipt and implementation in accordance with the rules followed in this regard, without violating the legal requirements of the capital market law or its executive regulations.
