November 17, 2018
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EGX Chairman Issues Two Resolutions On The Determinants Of Closing Price Calculation And The Impact Of The Cash Distribution On The Market Price

Posted: Monday, 25 Dec 2017

Continuing EGX Board aim to improve trading environment of The Egyptian Market; a more dynamic with better control market, EGX Chairman, issued a decision on the determinants of closing price calculation and the subsequent move controls within price limits and pause. He issued another one on closing rate calculation parameters. This is based on EGX's Board of Directors decisions number 8 for the year 2017 and the adoption of the Financial Regulatory Authority (FRA) of such decisions. EGX chairman said that the decision of the impact the cash distribution on the market price decision is to help absorb the impact of cash distribution in the market without restraining price limits to accommodate it. It will allow better trading environment. He added that in reference to the decision on closing rate calculation parameters, and after reviewing trading volume recording increased after 2012, EGX Board decided to raise the value of limited prices trades to 30,000 Egyptian pounds instead of 10,000 Egyptian pounds, allowing a better supervision on the market.
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