Egyptian Exchange: Initial Draft Of The New Membership Rules

The Egyptian Exchange (EGX) approved the initial version of the membership rules stating the working system of the securities brokerage firms. This version is scheduled to be displayed for discussion of the capital market parties.

Dr. Mohammed Omran, EGX chairman, stated that the membership rules aims primarily to raise the market protection levels to the best possible level.  This would be done through providing protection for both of customers and EGX member companies. Moreover, it would facilitate procedures for dealers and to simplify the automatic connection means between EGX and its members within the framework of a comprehensive application of the corporate governance principles
 
EGX membership rules are concerned with the authorization to deal in the stock market and performing the licensed activities for members in accordance with the member company? financial and technical capabilities and their officials? efficiency and expertise. They are also concerned with the programs and automated systems used to deal with data,discovery and early warning of risks that may arise from the various member? activities.