EGX starts allowing Omnibus System for its SMEs platform

The Egyptian Exchange (EGX) has developed Omnibus Accounts System to trading for the first time in the Egyptian SMEs market; the new development will go into effect starting today.

This came in the frame work of  the restructuring and development of the Egyptian SMEs market and is a complementing step to the action taken, in cooperation with Misr for Central Clearing, Depository & Registry (MCSD), in July 2019 allowing Omnibus Trading System in the main market, EGX added in a statement.

Executive Chairman of EGX Mohamed Farid,  stated that this step will contribute to the further activation of the Omnibus mechanism in the market, and increase the appetite of institutional investors for the SMEs market.  Adding that EGX’s management made several modifications to the system to further activate and simplify it.

He added that there are three allocation methods developed, namely; equal allocation, percentage to the total quantity allocation and manual allocation stressing that controls and procedures have been put in place to resolve the issue of stopping customer codes as a result of changing the coding data at the client’s request during the trading session radically.