{"id":565343,"date":"2021-04-04T13:56:12","date_gmt":"2021-04-04T13:56:12","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/04\/fra-introduces-new-regulations-on-margin-trading\/"},"modified":"2021-04-04T13:56:12","modified_gmt":"2021-04-04T13:56:12","slug":"fra-introduces-new-regulations-on-margin-trading","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/04\/fra-introduces-new-regulations-on-margin-trading\/","title":{"rendered":"FRA introduces new regulations on margin trading"},"content":{"rendered":"

The EGX30 fell 1.4% at today\u2019s close<\/strong> on turnover of EGP 789 mn (45.2% below the 90-day average). Foreign investors were net sellers. The index is down 4.0% YTD.<\/p>\n

In the green: <\/strong>Eastern Co. (+1.6%) and Oriental Weavers (+0.3%).<\/p>\n

In the red: <\/strong>Abu Qir Fertilizers (-4.4%), MM Group (-3.7%) and Ibnsina Pharma (-3.6%).<\/p>\n

<\/a> Fund managers licensed by the Financial Regulatory Authority (FRA) are now<\/strong> allowed to engage in margin trading <\/strong>under an FRA decision cited by Al Mal<\/a>. The decision comes after the FRA green-lit a new EGP 1 bn+ fund<\/a> that will be deployedto support margin lending<\/a> through brokerages in a bid to boost trading volumes on the bourse. The decision also comes after brokerages proposed introducing restrictions<\/a> on margin trading, including setting limits on the volume of margin trades allowed for each security as well as the market as a whole.<\/p>\n

\n

EARNINGS WATCH-<\/strong>Ezz Steel reported consolidated net losses of EGP 4.68 bn in 2020<\/strong>, narrowing from EGP 8.11 bn the previous year, according to its latest earnings (pdf)<\/a>. Sales revenue fell 16% y-o-y to EGP 38.6 bn during the year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The EGX30 fell 1.4% at today\u2019s close on turnover of EGP 789 mn (45.2% below the 90-day average). Foreign investors were net sellers. The index is down 4.0% YTD. In the green: Eastern Co. (+1.6%) and Oriental Weavers (+0.3%). In the red: Abu Qir Fertilizers (-4.4%), MM Group (-3.7%) and Ibnsina Pharma (-3.6%). Fund managers […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[7219],"tags":[7106,633,589,76,642,830],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565343","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-debt","tag-enterprisepm","tag-ezz-steel","tag-financial-regulatory-authority","tag-go-with-the-flow","tag-margin-trading","wpautop","entry"],"acf":{"mongo_id":"0f906e72-0324-42d5-a44d-b6115abaf550","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[565334],"teaser":"","voice_url":""},"yoast_head":"\nFRA introduces new regulations on margin trading - 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\/04\/04\/fra-introduces-new-regulations-on-margin-trading\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRA introduces new regulations on margin trading\" \/>\n<meta property=\"og:description\" content=\"The EGX30 fell 1.4% at today\u2019s close on turnover of EGP 789 mn (45.2% below the 90-day average). Foreign investors were net sellers. The index is down 4.0% YTD. In the green: Eastern Co. (+1.6%) and Oriental Weavers (+0.3%). In the red: Abu Qir Fertilizers (-4.4%), MM Group (-3.7%) and Ibnsina Pharma (-3.6%). 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Representatives from a handful of brokerages and custodians called for regulators to put a maximum limit on the volume of margin trades allowed\u2026","rel":"","context":"In "REGULATION WATCH"","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561756,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/20\/beltone-on-board-to-manage-cbe-margin-trading-support-fund\/","url_meta":{"origin":565343,"position":1},"title":"Beltone on board to manage CBE margin trading support fund?","author":"enterpriseam admin","date":"20 April 2021","format":false,"excerpt":"The Central Bank of Egypt (CBE) has reportedly tapped Beltone Financial to manage a new margin trading fund with a preliminary allocation of EGP 1 bn that will be deployed to support margin lending through brokerages, Al Mal reports, quoting what it says are sources in the know. The fund\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561437,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/fra-mulls-caps-on-margin-trading\/","url_meta":{"origin":565343,"position":2},"title":"FRA mulls caps on margin trading","author":"enterpriseam admin","date":"7 April 2021","format":false,"excerpt":"New regs to mitigate margin trading risks: Proposals to rein in margin trading under consideration by the Financial Regulatory Authority (FRA) would introduce caps on how much stock investors can buy with borrowed funds, the regulator said (pdf) yesterday. 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