Market regulator to be in charge of issuing licenses for futures exchange: The Financial Regulatory Authority’s (FRA) board gave the market regulator the authority to issue licenses for futures exchanges, according to a statement (pdf). Companies that want to operate futures exchanges will need at least EGP 20 mn or equivalent of paid-in capital. At least 75% of these companies’ shareholders must also be financial institutions, bourses, or companies licensed to operate in financial markets. The stipulations also require that companies have in place the necessary infrastructure to meet the technical requirements specified by the regulator to operate as a futures exchange.

The FRA board also granted the EGX the green light to operate in futures after completing certain adjustments to delineate regular stock trading and futures trading.

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