Ostoul obtains primary dealer license from FRA for EGP-denominated securities

Ostoul Securities Brokerage has obtained a license from the Financial Regulatory Authority to begin in August operating as a primary dealer for EGP-denominated government debt investors, CEO Mohamed Lotfy tells Al Mal. The move to obtain the license is part of the firm’s expansion plan, which will see it apply for a short selling license and begin trading in futures.