The Financial Regulatory Authority (FRA) held several meetings with market participants to discuss proposals to reduce transaction fees on the Egyptian Exchange (EGX) to encourage investment and create a competitive environment, according to Khaled El-Nashar, deputy chairperson of the FRA.
He said that the Capital Market Advisory Committee discussed during its meeting last week the reduction of costs borne by investors in the stock market. It recommended a reduction in fees for transactions on the EGX, which are charged by all market institutions. The suggestion is to cut the fees paid by 50% to 0.00005%, down from 0.0000625%, and a discount of 20% for the settlements and clearing operations to 0.0001% down from 0.000125%, in addition to reducing 17% of fees paid for the EGX to be 0.0001% down from 0.00012%.
The committee also recommended reducing the expenses of the Investor Protection Fund by 50% to 0.00005%, down from 0.0001%, and cut fees on trading on stocks listed on the EGX by 50%.
The FRA will study the committee’s recommendation and discuss it with market parties before making a final decision.
