By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    June 1, 2023
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    June 1, 2023
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    June 1, 2023
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    June 1, 2023
    Egypt's new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    Egypt’s new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    June 1, 2023
  • Politics
    PoliticsShow More
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    June 1, 2023
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    June 1, 2023
    Egypt and France discuss joint cooperation in the health sector
    Egypt and France discuss joint cooperation in the health sector 
    June 1, 2023
    AU praises Egypt's role in achieving sustainable peace in Africa despite challenges
    AU praises Egypt’s role in achieving sustainable peace in Africa despite challenges
    May 31, 2023
    Opinion| Russia and China promote stability in the Middle East after the US withdrawal from the region
    Opinion| Russia and China promote stability in the Middle East after the US withdrawal from the region
    May 31, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Egyptian Exchange discusses securities industry development
Share
Notification
Latest News
Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Business
Egypt hosts InnoXera Summit on education in artificial intelligenceage
Egypt hosts InnoXera Summit on education in artificial intelligenceage
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Egyptian Exchange discusses securities industry development
Business

Egyptian Exchange discusses securities industry development

Daily News Egypt
Last updated: 2019/07/30 at 4:30 AM
By Daily News Egypt 4 Min Read
Share
Mohamed Farid
SHARE

Chairperson of the Egyptian Exchange (EGX), Mohamed Farid, on Sunday met with representatives of major players in the securities industry; Egyptian Capital Market Association (ECMA), Egyptian Private Equity Association (EPEA), Securities Division in Egyptian Federation of Chambers of Commerce (FEDCOC), and several investors in the stock market, to discuss their views and proposals for the market development.

Farid reviewed several decisions taken by the EGX to activate trading, including reducing the trading time twice and expanding the securities trading base under the T+0 mechanism, listing shares of new IPOs among the lists of specialised activities upon completion of the required procedures, and activating new financial tools, including market maker and short selling.

He pointed out that the activation of the new financial mechanisms and products lies with the brokerage companies operating to apply for a license to practice the activity, especially after issuing all the decisions that organise and allow to carry out these activities.

Farid stressed that the bidding unit was a market demand that was implemented after consultations with all parties as well as conducting a practical comparative study to identify the experiences of various markets, and it was implemented with the aim of increasing the turnover and movement of small securities, but we are open to any amendments that will develop the trading process If feasible for the market.

As for the offering side, the EGX head said: “Our primary objective is to improve all offerings through raising the efficiency, quality, and adequacy of disclosures. We have 55 companies disclosing in Arabic and English and established a management of the accounting analysis of the financial statements of companies from the viewpoint of enhancing disclosures to ensure that sufficient information is available to the investors.”

In addition, the EGX established a client relation management to educate the companies in various economic sectors with the advantages and procedures of listing on the EGX, where it has already addressed over 150 companies, noting that this is a role of investment banks, but they are helping to improve the market.

A number of investors called to increase the number of shares available for specialized activities and margin buying, along with slowing down the entry and exit of these shares.

The EGX head promised to study and examine the possibility of developing the process of listing and deletion of securities in the lists of specialized activities so as not to hurt an investor and contribute to the activation of trading.

For their part, the meeting attendants called on the government to quickly integrate the stock market into the economy and economic development plans as an important mechanism for attracting and mobilizing more foreign and domestic investments, as a platform to finance the growth and expansion of state-owned enterprises.

Farid stressed that this proposal is of interest to the EGX and there is a tripartite committee including the Finance Ministry, the Egyptian Tax Authority, and a representative of the securities industry to discuss possible measures and decisions that will contribute to the stimulation of the EGX. He indicated his willingness to work with all parties to determine the requirements for revitalising the market.

You Might Also Like

Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone

Egypt, GIZ sign agreement of €8m to support e-government, innovation in management

Egypt hosts InnoXera Summit on education in artificial intelligenceage

Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman

Egypt’s new membership in New Development Bank enhances South-South cooperation: Al-Mashat

TAGGED: EGX, Egyptian Exchange, Industry, Mohamed Farid.
Share this Article
Facebook Twitter Email Print
Previous Article Major S. Korean companies, embassy officials visit New Capital
Next Article Egypt’s Umrah website to go online mid-August: ETAA
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?