FRA grants Prime Holdings brokerage arm short-selling license

The Financial Regulatory Authority (FRA) approved granting Prime Holdings a short-seller’s license, local press reported on Thursday. Prime’s brokerage arm becomes the fifth to receive the license, joining the brokerage arms of Arqaam, EFG Hermes, CI Capital, and the Arab African International Securities. Short-selling transactions are expected to begin in 3Q2019, according to statements by FRA deputy head Khaled El Nashar.