{"id":563584,"date":"2021-07-08T03:30:36","date_gmt":"2021-07-08T03:30:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/"},"modified":"2021-07-08T03:30:36","modified_gmt":"2021-07-08T03:30:36","slug":"the-egx-is-putting-closing-auctions-to-the-test","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/","title":{"rendered":"The EGX is putting closing auctions to the test"},"content":{"rendered":"

<\/a> The EGX will today trial a new system to calculate <\/strong>closing share prices that is hoped to <\/strong>improve accuracy, increase trading volumes and boost foreign investment in Egyptian shares. <\/strong>The bourse is considering introducing an auction system to determine closing prices, a method used by some of the world\u2019s biggest exchanges, and will today kick off a series of mock sessions between 3-4:30 pm CLT to test it out, the exchange said in a bulletin<\/a> yesterday.<\/p>\n

Attention, brokers:<\/strong> At least one representative from all licensed brokerage firms needs to be present at the trading floor during the trial sessions, which will also take place on Sunday and Monday.<\/p>\n

\u201cWhat is a closing auction?\u201d we hear you ask. <\/strong>We spoke to EGX Chairman Mohamed Farid, who broke down how the new system could work.<\/p>\n

As things stand,<\/strong> the EGX uses the volume weighted average price (VWAP)<\/strong>, which uses all the trades that occur throughout a given session to determine a share\u2019s closing price. This is in contrast to using the last traded price<\/strong> of the day for the closing price, a method which has declined in popularity since its heyday in the 1990s but is still used by several exchanges.<\/p>\n

This could change if the proposal that\u2019s currently being tested becomes a reality. <\/strong>Under the proposed system, closing prices will be based first and foremost on an auction that takes place before market close, Farid tells us. The results of the auction would then override the weighted average calculated from the latest session price.<\/p>\n

And there\u2019s another new acronym you may have to learn: <\/strong>Under the proposed system, a 30-minute moving-volume weighted average (MVWAP) would be used should the auction fail to attract enough bids and generate a closing price, the EGX boss said. The MVWAP, unlike the VWAP, only takes into account trades that are completed during the final half hour of the session.<\/p>\n

The proposal would also introduce a new function on the EGX known as \u201cpost-auction <\/strong>trade at close.\u201d <\/strong>This would allow investors, after a closing price is determined, to buy and sell at that particular closing price for a few minutes before the end of the session.<\/p>\n

What\u2019s the point of all this?<\/strong> The new system is best on international best practices and would improve accuracy of closing prices. But more important, it increases the probability of attracting portfolio investments from both foreign and local investors, Farid said. Equity investment funds \u2014 particularly those that are passive, tracker indexes, or are based abroad \u2014 prefer that exchanges allow post-auction trades, he added.<\/p>\n

What happens next?<\/strong> The EGX will work on ensuring the stability of the system before rolling it out on the market, Farid said. More trial sessions will be conducted to ensure everything runs smoothly technologically, and brokers and market participants are made fully aware of the new system\u2019s functionalities, he added.<\/p>\n

A change to the EGX circuit breaker is in the works: <\/strong>Shares could be allowed to rise and fall by 20% during a single session before trading is suspended, Farid said. Currently, shares are suspended for the rest of the day if they move within a +\/- 10%<\/a> price range. The final limit hasn\u2019t been decided by the EGX, he said.<\/p>\n

Exchanges the world over fiddle with closing price mechanisms<\/strong>, with running arguments over what is the \u2018best\u201d methodology. Page 6 of this pdf provides a nice, succinct overview<\/a> of last trade vs. closing auction vs. volume-weighted average, while real geeks will want to read this presentation (in English) from Banque de France (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The EGX will today trial a new system to calculate closing share prices that is hoped to improve accuracy, increase trading volumes and boost foreign investment in Egyptian shares. The bourse is considering introducing an auction system to determine closing prices, a method used by some of the world\u2019s biggest exchanges, and will today kick […]<\/p>\n","protected":false},"author":1,"featured_media":563585,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7303],"tags":[102,68,72,164,2221],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-capital-markets","tag-egx","tag-enterpriseam","tag-equities","tag-mohamed-farid","wpautop","entry"],"acf":{"mongo_id":"782b5bbe-a256-4830-b7dc-0e053eda6003","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/80.jpg","photo_position":"above","related_issue":[563580],"teaser":"","voice_url":""},"yoast_head":"\nThe EGX is putting closing auctions to the test - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The EGX is putting closing auctions to the test\" \/>\n<meta property=\"og:description\" content=\"The EGX will today trial a new system to calculate closing share prices that is hoped to improve accuracy, increase trading volumes and boost foreign investment in Egyptian shares. The bourse is considering introducing an auction system to determine closing prices, a method used by some of the world\u2019s biggest exchanges, and will today kick […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-08T03:30:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The EGX is putting closing auctions to the test\",\"datePublished\":\"2021-07-08T03:30:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/\"},\"wordCount\":601,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1\",\"keywords\":[\"capital markets\",\"EGX\",\"EnterpriseAM\",\"equities\",\"Mohamed Farid\"],\"articleSection\":[\"Capital markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/\",\"name\":\"The EGX is putting closing auctions to the test - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2021-07-08T03:30:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The EGX is putting closing auctions to the test\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The EGX is putting closing auctions to the test - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/","og_locale":"en_US","og_type":"article","og_title":"The EGX is putting closing auctions to the test","og_description":"The EGX will today trial a new system to calculate closing share prices that is hoped to improve accuracy, increase trading volumes and boost foreign investment in Egyptian shares. The bourse is considering introducing an auction system to determine closing prices, a method used by some of the world\u2019s biggest exchanges, and will today kick […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2021-07-08T03:30:36+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"The EGX is putting closing auctions to the test","datePublished":"2021-07-08T03:30:36+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/"},"wordCount":601,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1","keywords":["capital markets","EGX","EnterpriseAM","equities","Mohamed Farid"],"articleSection":["Capital markets"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/","url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/","name":"The EGX is putting closing auctions to the test - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1","datePublished":"2021-07-08T03:30:36+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/08\/the-egx-is-putting-closing-auctions-to-the-test\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"The EGX is putting closing auctions to the test"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/80.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":572705,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/06\/egx-looking-to-change-how-closing-share-prices-are-calculated-says-farid\/","url_meta":{"origin":563584,"position":0},"title":"EGX looking to change how closing share prices are calculated, says Farid","author":"enterpriseam admin","date":"6 July 2020","format":false,"excerpt":"REGULATION WATCH- EGX looking to change how closing share prices are calculated, says Farid: The EGX plans to implement \u201csoon\u201d a mechanism proposed by the Financial Regulatory Authority\u2019s stock exchange advisory committee that would see the EGX conduct auctions to determine the closing price of shares, EGX boss Mohamed Farid\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":563978,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/egx-to-change-its-closing-price-mechanism\/","url_meta":{"origin":563584,"position":1},"title":"EGX to change its closing price mechanism","author":"enterpriseam admin","date":"1 August 2021","format":false,"excerpt":"Major changes to the EGX coming this fall: The board of the EGX has approved a slew of changes meant to boost trading volumes, particularly by institutional investors. These include setting up a new mechanism for calculating the closing share price and easing limits on intraday price movements on shares,\u2026","rel":"","context":"In "SPEED ROUND: CAPITAL MARKETS"","block_context":{"text":"SPEED ROUND: CAPITAL MARKETS","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/329.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567339,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/20\/fra-committee-suggests-closing-auction-mechanism-for-egx\/","url_meta":{"origin":563584,"position":2},"title":"FRA committee suggests closing auction mechanism for EGX","author":"enterpriseam admin","date":"20 January 2020","format":false,"excerpt":"REGULATION WATCH- FRA committee suggests closing auction mechanism for EGX share pricing: A proposal tabled by the Financial Regulatory Authority\u2019s stock exchange advisory committee could see the EGX start conducting auctions to determine the closing price of shares, industry sources told Al Mal. As it stands, closing prices are calculated\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/644.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564093,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/new-closing-price-mechanism-to-come-on-2-september-farid-gets-new-four-year-term-as-egx-boss\/","url_meta":{"origin":563584,"position":3},"title":"New closing price mechanism to come on 2 September + Farid gets new four-year term as EGX boss","author":"enterpriseam admin","date":"8 August 2021","format":false,"excerpt":"MARKET NEWS- The new mechanism for calculating closing share prices will come into effect on 2 September, the bourse said in a statement (pdf) today. Approved by the EGX last week, a \u201cpre-close auction\u201d system will be introduced in a move designed to improve accuracy, increase trading volumes and boost\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576367,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/the-egx-has-changed-how-it-calculates-closing-share-prices\/","url_meta":{"origin":563584,"position":4},"title":"The EGX has changed how it calculates closing share prices","author":"enterpriseam admin","date":"22 November 2020","format":false,"excerpt":"REGULATION WATCH- The EGX has changed how it calculates closing share prices: Closing share prices on the EGX will be calculated according to the volume-weighted average, as long as this meets a minimum value based on the share\u2019s trades over the preceding three months, according to an EGX statement (pdf).\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":588315,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/explaining-the-egxs-new-trading-mechanism-rules\/","url_meta":{"origin":563584,"position":5},"title":"Explaining the EGX\u2019s new trading mechanism rules","author":"enterpriseam admin","date":"8 June 2023","format":false,"excerpt":"The EGX bans conditional trade mechanisms during auction sessions","rel":"","context":"In "Enterprise explains"","block_context":{"text":"Enterprise explains","link":"https:\/\/enterpriseam.com\/egypt\/category\/explainers\/enterprise-explains\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1552.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=563584"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/563584\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/563580"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/563585"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=563584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=563584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=563584"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=563584"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=563584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}