Wednesday April 9 2014
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Egypt
Link: http://www.egx.com.eg/english/NewsDetails.aspx?NewsID=125025
The Egyptian Exchange (EGX) issued an executive decision to start applying the regulations for both ETFs and market maker activity. The new regulations for market maker stressed on its providing an endorsement stating separation between the activities of market-making and brokerage activity. It also defined the technical infrastructure for information systems that should be applied by the market maker to connect with EGX. The regulations also required a market maker to take all measures to ensure liquidity on documents in circulation. New restrictions has been put for borrowed stocks of the index or certificates in accordance with the clearing system and settlement certificates of index funds prepared.
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