November 18, 2019 / 11:00 AM / a month ago

Egypt grants 51 brokerage firms short-selling bourse licence

CAIRO, Nov 18 (Reuters) - Fifty-one brokerages have been granted a licence to offer short-selling on the Cairo bourse, a senior official at the Financial Regulatory Authority (FRA) told Reuters on Monday.

The move came a day after the regulator said it had decided to start allowing short-selling on Dec. 1, a measure officials hope will boost liquidity.

Egypt’s exchange has nearly 128 brokerage companies. (Reporting by Ehab Farouk; Writing by Mahmoud Mourad; Editing by Ulf Laessing and Mark Potter)

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