Egypt to launch short-selling of shares this quarter – MCDR chair

Egypt is expected to launch the short-selling of shares on the stock market in the current quarter ending in September, head of the country’s Central Clearing, Depository and Registry House MCDR said on Thursday.

Short-selling means securities can be sold before they are acquired, and it increases market liquidity.

“Consultations and preparations to finalise the implementation mechanism are ongoing with several entities, including …, the stock exchange, and the financial supervisory authority,” MCDR’s chairman Mohamed Abdel-Salam told Amwal Al Ghad.

“This mechanism will activate the market and significantly increase trading volumes given the various tools we continue to offer to investors,” Abdel-Salam said.