The chairperson of the Egyptian stock exchange (EGX) has issued decision No. 37 for year 2017 on Thursday. The decision limits practices deemed harmful for the market in a way that allows the EGX’s administration to stop clients from benefiting from the mechanism of supply and demand, for no more than a month.
The decision is applicable in case a group of traders violate the controls of the capital market law or its executive decisions.
The decision came after a session of the EGX’s board of directors held on 23 February 2017 and the approval of the EGX’s rules acquired from the Egyptian Financial Supervisory Authority (EFSA) on 8 March 2017.
EGX’s management will activate the decision on the day of its issuance on 9 March 2017.