|
| Regulations
and Framework:
The
primary regulatory body is the Capital Market Authority (CMA). It is
responsible for the issuance of licenses to all financial
intermediaries including the Central Clearing and Depository which is
a company called Misr Clearing Settlement and Depository (MCSD). The
CMA is also responsible for the introduction of and amendments to any
laws and regulations geared towards the efficiency and transparency of
the market. The
Exchange is responsible for market monitoring and trading to ensure
secure and efficient trading as well as the protection of minority
rights. It is the executive arm in charge of implementing the
procedures decreed by CMA as well as those mandated by its board of
directors. The exchange ensures that all listing and reporting
requirements are met by those companies whose shares are listed there.
It is also responsible for the over the counter market (OTC). Clearing
and Settlement lies in MCSD’s domain. The company ensures the
successful clearing & settlement of all trades and intervenes in
the event of failed trades. MCSD is a private company whose
shareholders are primarily comprised of 16 banks, 15 brokerage houses
and the exchange itself. Together,
these three arms work to ensure the market operates in an efficient,
timely and transparent manner. The Capital Market is regulated by law 95 of 1992 and its executive regulations which are available at the following sites: Capital
Market Law
Address:
20 Emad El-Din Street Tel:
+20 (2) 5783904 Mr.
Ashraf Shams El-Din Mr. Abdel
Hamid Ibrahim |