Egypt's FRA reduces fees for trading operations in EGX by 20%

CAIRO – 17 November 2021: The Financial Regulatory Authority (FRA) announced Wednesday 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 and work to attract more investments, and in response to the stock market support package, in addition to improving the investment environment, which was recently issued by the Prime Minister at the end of last week, and recommended reducing the cost of services received from market institutions (the Financial Supervisory Authority - the Egyptian Stock Exchange - the Central Clearing, Depository and Registry Company - the Continuous Protection Fund) for trading operations on the Egyptian Stock Exchange that take place on securities.

In the same context, 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.