News Details
EGX and MCDR Develop the Omnibus Accounts Trading Mechanism
04/07/2019
The Egyptian Exchange (EGX) and Misr for Central Clearing, Depository and Registry (MCDR) conducted amendments to the Omnibus account trading mechanism to facilitate Executing orders procedures. 

Mohamed Farid, EGX Chairman, explained that the old system was slowing down Omnibus trading because of the manual allocation of shares by the investment manager and suspension of clients codes based on change in data. 

“The recent development allows better automated mechanism”, Farid said.  He added that there are three allocation methods developed, namely; equal allocation, percentage to the total quantity allocation and manual allocation.

Mohamed Abdel Salam, MCDR Chairman, said that MCDR exerted all efforts for the development and increase the efficiency of the Egyptian market.  He added that the old version of the system will be available along with the new one during the coming 2 weeks to allow the market to absorb the changes.