FRA Grants EGX’s Proposal to Cease Applying Circuit Breaker Upon Reaching Maximum Ceiling
23/03/2020
The Egyptian Financial
Regulatory Authority (FRA) approved a proposal submitted by The Egyptian
Exchange (EGX) to cease applying circuit breaker upon EGX100 index reaching 5%
increase and continuing applying suspension of trade in case of EGX100 reaching
5% down. The proposal was a result of a
study done by EGX of international markets and reviewing a report of the World
Federation of Exchanges (WFE) studying markets reactions to severe market
fluctuations.
This comes as one of
The Egyptian Exchange (EGX) and The Egyptian Financial Regulatory Authority
(FRA) efforts for the development of the Egyptian capital market.