News Details
EGX Issues the Criteria for selecting the Securities Eligible for Short Selling
 Mohamed Farid Saleh, Chairman of EGX, issued a decision on the criteria of selecting securities allowed to carry short selling to stimulate activation of the new mechanism to enhance liquidity and trading in the market.
The number of securities listed on the Stock Exchange and eligible for short selling mechanism currently are 29 securities in addition to ETFs.
EGX based its criteria selection on seven standards after studying the best international standards and practices.  Among these standards is the free float of the security, the number of trading days, the daily average of brokerage companies, the daily average of the customers and number of shares issued.
In this context, the Egyptian Financial Regulatory Authority (FRA) has adopted the criteria approved by the Board of EGX within the framework of continuous cooperation between EGX & FRA and based on the common goal of developing the Egyptian capital market.
Farid said that the issuance of the criteria came within the framework of EGX’s management keenness stimulate trading in the Egyptian Market.  He added that it is now the role of the brokerage firms to meet the technical requirements and accordingly apply for a license.

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