Egypt/June 20, 2019/Alyaa Stohy /No Comment/173 views /EgyptFeatured FRA issues short-selling licenses to HSB, FBG, CIBC, AAIS – Daily News Egyptshare on:FacebookTwitter Google +Pinterest Tumblr Linked InEmailSend to Email Address:Your NameYour Email AddressEmail check failed, please try againCancel The Financial Regulatory Authority (FRA) has granted its approval to four companies to carry out securities borrowing operations for short-selling purposes. The companies are Hermes Securities Brokerage (HSB), Financial Brokerage Group (FBG), Commercial International Brokerage Company (CIBC), and Arab African International Securities (AAIS). Earlier this month, the FRA has issued the first short-selling licence to Arqam Securities Brokerage as part of the authority’s efforts to activate the securities borrowing system in Egypt in order to raise the values and volumes of trading in the Egyptian stock market. ALSO READ Facebook to be fined $5bn for privacy violations - Daily News EgyptThe required technology structure to implement short-selling mechanism between the Misr for Central Clearing, Depository, and Registry (MCDR), the Egyptian Exchange (EGX), and brokerage companies will be finalised soon. In short selling, a position is opened by borrowing shares of a stock or other asset that the investor believes will decrease in value by a set future date—the expiration date. The investor then sells these borrowed shares to buyers willing to pay the market price. Before the borrowed shares must be returned, the trader is betting that the price will continue to decline and they can purchase them at a lower cost. ALSO READ Gunmen kidnapped Mother of former Super Eagles Coach, Samson Siasia — Aba City BlogNoteworthy, the FRA chairperson issued in February the regulatory decision No 268 for the year 2019 on the rules of securities borrowing operations with the purpose of short-selling to activate the mechanism, while the EGX and MCDR would prepare the technical requirements for activating the mechanism. Leave A Comment Below Related Tags:EgyptFeatured share on: FacebookTwitter Google +Pinterest Tumblr Linked InEmailSend to Email Address:Your NameYour Email AddressEmail check failed, please try againCancel previous articleWorld awaits opening of GEM: UNWTO – Daily News Egyptnext articleUS market represents 3% of tourist arrivals to Egypt: Al-Mashat – Daily News EgyptRelated PostsNigeria/July 16, 2019 /No Comment Sen. Nwaoboshi Floors Ned Nwoko At Supreme CourtNigeria/July 16, 2019 /No Comment Chelsea Don’t Need New Players To Be Successful – LampardGov. Makinde Declares Assets Worth Over N48bnPDP witness raises allegation of $10,000 bribe against INEC officer at tribunal – Daily Post NigeriaBREAKING: My Father Told Me Atiku Is Born Nigerian – PDP’s WitnessAFCON 2019: Pinnick takes final decision on Rohr’s future as Super Eagles head coach – Daily Post NigeriaToyota-Orascom-GDF alliance to complete Gulf of Suez wind farm by October – Daily News EgyptElectricity Ministry negotiates State Grid, Siemens, IBB to establish control centre in NAC – Daily News EgyptJUST IN: Senate To Screen CJN Tanko Muhammad WednesdayHerdsmen: Defend Yourselves, Enough Is Enough – Ooni Of Ife Tells Yorubas Leave a Response Cancel reply CommentName Email Sign me up for the newsletter! Notify me of follow-up comments by email. Notify me of new posts by email.