The Financial Regulatory Authority (FRA) announced reducing the fees for collected and payable services for trading operations on the stock exchange by 20 percent.
The current payable fee on trading operations is 10 percent.
This came during a meeting of the Authority’s Board of Directors this morning, to discuss steps to revive the financial market, which has been suffering from a faltering pace during the past periods.
This is the third time in two years that the FRA has reduced trading fees.
The draft resolution (reducing trading costs) is scheduled to be sent to the Prime Minister to take measures to issue it in order to increase trading volumes on the Egyptian Stock Exchange.
This step comes from the authority’s keenness to develop the capital market in order to attract more investments.
The government and the financial market parties are trying to enhance the trading environment and make it more competitive among its counterparts from the regional and global financial markets, so that it is the least expensive in exchange for services for trading operations charged by market regulators compared to the surrounding markets.
