EFSA Ought To Activate T+1: ECMA

The Egyptian Capital Market Association (ECMA) requested the Egyptian Financial Supervisory Authority (EFSA) for speeding up the activation of the T+1 trading system in the Egyptian market so as to increase the liquidity rates.

This was mentioned during the meeting held by the ECMA last February with the chairmen of the EGX, EFSA, MCDR and brokerage companies so as to discuss how to apply the necessary procedures and rules to ensure unique performance.

Dr. Mohamed E. Taymour, ECMA Chairman, said that the meeting had discussed the stock market development and its mechanism so as to increase the volume and value traded in the market. The meeting had also tackled the application of necessary programs in order to carry out the T+1 system and to restore the intra-day trading (T +0).

He added that the ECMA targets serving the role of connecting between the companies and EFSA and doing multiple courses for the staff working in the stock market in order for enhancing their vocational levels.