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Tuesday, 12 September 2017

EGX cuts circuit-breaker time to 15 from 30 minutes

EGX cuts circuit-breaker time to 15 minutes from previous 30: The Egyptian Financial Supervisory Authority (EFSA) has approved the EGX’s decision to reduce trading halt times to 15 minutes, down from 30 minutes, as of today. Reuters’ translation of the bourse statement notes that the decision will lead to a “shortening of the time for which trading can be temporarily halted on a security during a session due to a price change … and will provide the bourse management the flexibility to increase or decrease halt times within a 15-30 minute range.” The move aims to increase market activity and attract foreign investors, the bourse says. The EGX has been suspending trading on stocks that go up or down by over 5% for 30 minutes.

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