Resuming Same Day Trading Mechanism At Egyptian Exchange Trading Platform

Referring to the Egyptian Financial Supervisory Authority (EFSA) decree to resume same day trading for shares as of 23 May 2013 trading session, The Egyptian Exchange (EGX) would like to announce added features to this mechanism for dealers:

First:  The possibility to buy part or all of the quantity sold from the client? balances in the same trading session.  This is in addition to what was applied before; selling all or part of the purchased quantity in the same trading session. 

Second: Settlement of cash and paper-based centers for those transactions instantly through MCDR, given that clearing and settlement of the related trading transactions will have the same normal settlement date for the rest of the dealing parties.

Third: the possibility of client?s selling part or all of its total available balance -after re-purchase- in the following day trading session.

As per EGX keenness for the benefit of all market parties and to ensure disclosure and transparency principles, EGX has published a list of the securities allowed for this mechanism namely 102 (one hundred and two) securities on 14/4/2013.  To reduce the associated risks with that mechanism, it was decided that the daily allowed transactions value using same day trading for each client do not exceed  1/20000 of the listed shares number of the company allowed to deal using this mechanism. Also for more convenience concerning brokerage firms, the amount of insurance required to perform this mechanism will be weighted with  100% weighting coefficient when calculating the net liquid capital. Furthermore, to protect investors? rights, EGX stresses that brokerage firms are required to fulfill the contracts of (same day trading) mechanism using the special forms determined for that purpose.