{"id":573913,"date":"2020-08-24T03:59:26","date_gmt":"2020-08-24T03:59:26","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/"},"modified":"2020-08-24T03:59:26","modified_gmt":"2020-08-24T03:59:26","slug":"fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/","title":{"rendered":"FRA wants private sector to hold ownership stake (and possibly majority) in upcoming futures exchange"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>SMART POLICY- FRA wants private sector to own a chunk (and possibly a <\/strong><strong>majority stake) of the futures exchange:<\/strong> It appears that the Financial Regulatory Authority (FRA) wants the private sector to hold a stake in the long-awaited futures exchange, FRA Vice President Khaled El Nashar told <a href=\"https:\/\/bit.ly\/3jchy9j\">Hapi Journal<\/a> on Sunday. The move is part of the regulator\u2019s plan to tap the expertise of private-sector financial institutions and is meant to privatize the market from the get go, staving off any future calls for privatization, as is the case today with the EGX, El Nashar added. El Nashar also suggested that Misr Clearing and Depository Company (MCDR) should be opened to private-sector ownership. <strong>The FRA could go so far as to sell the private sector a majority stake<\/strong>, he suggested.<\/p>\n<p><strong>Keep an eye on a meeting tomorrow with top players in the finance industry: <\/strong>Plans for the futures exchange will be on the agenda tomorrow when the FRA meets a with number of Egypt\u2019s leading financial institutions. Private-sector commercial and investment banks as well as insurance companies will be at the table along with representatives from the EBRD and the International Finance Corporation. <strong>Joining from the government side: FRA, MCDR, and the EGX<\/strong>, El Nashar said.<\/p>\n<p><strong>This is the first high-level public discussion of the futures exchange <\/strong><a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/02\/derivatives-trading-and-egypts-first-futures-exchange-are-coming-next-year-farid\/\">since EGX boss Mohamed Farid said<\/a> pre-covid that Egypt could launch derivatives trading in 1H2020. We had also heard last year that MCDR and the EGX were finalizing the regulations and infrastructure needed to launch derivatives trading, which would see derivatives trades settled through a new electronic platform, but no updates on that have come out.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SMART POLICY- FRA wants private sector to own a chunk (and possibly a majority stake) of the futures exchange: It appears that the Financial Regulatory Authority (FRA) wants the private sector to hold a stake in the long-awaited futures exchange, FRA Vice President Khaled El Nashar told Hapi Journal on Sunday. The move is part [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":573914,"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":[8572],"tags":[971,72,76,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-573913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-capital-markets-act","tag-enterpriseam","tag-financial-regulatory-authority","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"e5d5e27d-9ad1-4071-909d-602a4eea2142","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/8\/177.jpg","photo_position":"above","related_issue":[573908],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>FRA wants private sector to hold ownership stake (and possibly majority) in upcoming futures exchange - 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\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FRA wants private sector to hold ownership stake (and possibly majority) in upcoming futures exchange\" \/>\n<meta property=\"og:description\" content=\"SMART POLICY- FRA wants private sector to own a chunk (and possibly a majority stake) of the futures exchange: It appears that the Financial Regulatory Authority (FRA) wants the private sector to hold a stake in the long-awaited futures exchange, FRA Vice President Khaled El Nashar told Hapi Journal on Sunday. The move is part [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-24T03:59:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/177.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FRA wants private sector to hold ownership stake (and possibly majority) in upcoming futures exchange\",\"datePublished\":\"2020-08-24T03:59:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\"},\"wordCount\":290,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/177.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Capital Markets Act\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/24\/fra-wants-private-sector-to-hold-ownership-stake-and-possibly-majority-in-upcoming-futures-exchange\/\",\"name\":\"FRA wants private sector to hold ownership stake (and possibly majority) in upcoming futures exchange - 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The working group\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/239.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574559,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/14\/fra-requires-futures-exchange-company-to-separate-ceo-md-chairman\/","url_meta":{"origin":573913,"position":1},"title":"FRA requires futures exchange company to separate CEO, MD, chairman","author":"enterpriseam admin","date":"14 September 2020","format":false,"excerpt":"REGULATION WATCH- FRA requires futures exchange operating company to separate CEO, MD, chairman positions: The Financial Regulatory Authority (FRA) issued a decree yesterday requiring the joint-stock company that will be set up to operate the planned futures exchange to separate the positions of CEO, chairman, and managing director. The decree\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":574085,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/commodity-exchange-structure-is-still-debatable-sources\/","url_meta":{"origin":573913,"position":2},"title":"Commodity exchange structure is still debatable \u2013 sources","author":"enterpriseam admin","date":"30 August 2020","format":false,"excerpt":"The private sector will get a piece of the new futures exchange even as gov\u2019t agencies scramble for their share: Last Tuesday\u2019s meeting called by the Financial Regulatory Authority (FRA) saw the EGX, CBE, and Misr for Clearing, Depository and Registry (MCDR) vie for ownership of the futures exchange, sources\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/237.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591426,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/05\/fra-to-ask-education-ministry-for-clarification-on-school-foreign-ownership-cap\/","url_meta":{"origin":573913,"position":3},"title":"FRA to ask Education Ministry for clarification on school foreign ownership cap","author":"enterpriseam admin","date":"5 December 2019","format":false,"excerpt":"FRA to ask Education Ministry for clarification on school foreign ownership cap: The Financial Regulatory Authority (FRA) is requesting clarification from the Education Ministry on its decision to place a 20% cap on foreign ownership in private and international schools, FRA Deputy Chairman Khaled El Nashar said, according to Al\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":628368,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/02\/fra-raises-minimum-required-ownership-stake-for-mtos-to-50-from-33\/","url_meta":{"origin":573913,"position":4},"title":"FRA raises minimum required ownership stake for MTOs to 50% from 33%","author":"enterpriseam admin","date":"2 May 2018","format":false,"excerpt":"EXCLUSIVE- FRA raises minimum required ownership stake for MTOs to 50% from 33%: The Financial Regulatory Authority (FRA) has approved regulatory amendments that require investors who own more than 50% of a listed company to make a mandatory tender offer to purchase the remaining shares, up from 33% currently, FRA\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":563408,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/30\/our-new-futures-exchange-could-go-live-before-the-end-of-the-year\/","url_meta":{"origin":573913,"position":5},"title":"Our new futures exchange could go live before the end of the year","author":"enterpriseam admin","date":"30 June 2021","format":false,"excerpt":"Derivatives trading is coming to Egypt before the year is out: The Financial Regulatory Authority (FRA) is looking to launch Egypt\u2019s first futures exchange before 2022, FRA Deputy Chairman Islam Azzam told Asharq Business. The long-awaited exchange will initially allow traders to buy and sell index futures contracts, before launching\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/379.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\/573913","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=573913"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/573913\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/573908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/573914"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=573913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=573913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=573913"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=573913"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=573913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}