One-Year Fee Exemption Announced for Stock Market Derivatives in Egypt

In a bid to boost the EGX30's recently launched derivatives market, Egypt's Financial Regulation Authority (FRA) has exempted several clearing and settlement services from fees for a period of one year. The decision, which was issued by FRA Chairman Islam Azzam, is part of a broader fee structure greenlighted by the authority to regulate futures trading on the EGX30.

According to the FRA's statement, three services will remain permanently free of charge: opening client accounts, cash deposits and cash withdrawals. Meanwhile, for a period of one year, the following services will be free: trade execution on behalf of clients, final contract settlement, transfers of positions between clearing members, account statement issuance, the addition of system users and automated connectivity to the settlement system.

These measures are aimed at encouraging broader participation in the derivatives market by brokers and investors, and enhancing market readiness as a whole.