FRA prepares for launching short selling by the end of this year

FRA holds consultations to prepare for introduction of short selling by the end of this year: The Financial Regulatory Authority’s (FRA) Capital Markets Advisory Committee has been meeting with industry stakeholders to review the system in place to launch short selling on the EGX, sources told Al Mal. The consultations are meant to put the final touches on the electronic system for the financial instrument ahead of its activation next month, the sources said. EGX Chairman Mohamed Farid said earlier this year that short selling would begin before the year was out, following expectations that it would be launched in the third quarter.