Egypt mulls cutting stock exchange fees

Egypt is studying a plan to cut trading fees and commissions, aiming to make the stock exchange more competitive, the deputy chairman of the Financial Regulatory Authority (FRA) said on Monday.

Under the plan, which the FRA has yet to approve, trading service fees would drop to 0.005 percent from 0.00625 percent, clearing and settlement fees to 0.0100 percent from 0.0125 percent and stock market commissions to 0.0100 percent from 0.0120 percent, state news agency MENA quoted Khalid al-Nashar as saying.

The cost charged to investors for trading insurance would also drop to 0.005 percent from 0.010%.

Other regional stock exchanges have similarly been cutting investor costs. These include the Abu Dhabi Securities Exchange, which reduced commissions by as much as 90 percent on July 1.

Source: Reuters