New trading systems coming, short selling at long last
Short selling coming to the EGX? The EGX and Misr for Central Clearing, Depository, and Registry (MCDR) plan on introducing upgrades to the bourse’s trading systems that herald the coming of short-selling and an options market, newly-appointed EGX boss Mohamed Farid said on Saturday, Al Borsa reports. The announcement comes more than a decade after regulations were put into place to regulate shorts, the newspaper notes. Farid agreed with MCDR Chairman Mohamed Abdel Salam yesterday that they would begin developing the new system next week, but gave no indication as to when it could be implemented. The EGX has been the belle of the ball in the region since the November float. If implemented, the measures would spark new interest in our market, so we can expect some added volumes from foreign traders. This would also propel the EGX out to the front of the regional pack in terms of trading capability.