October 7, 2019 / 2:42 PM / 2 months ago

Egypt studies plan to cut stock exchange fees

CAIRO, Oct 7 (Reuters) - Egypt is studying a plan to reduce trading fees and commissions to make the stock exchange more competitive, the deputy chairman of the Financial Regulatory Authority (FRA) said on Monday.

Under the plan, which the FRA has yet to approve, trading service fees would fall to 0.005% from 0.00625%, clearing and settlement fees to 0.0100% from 0.0125% and stock market commissions to 0.0100% from 0.0120%, state news agency MENA quoted Khalid al-Nashar as saying.

The cost charged to investors for trading insurance would also fall to 0.005% from 0.010%.

Other regional stock exchanges have similarly been reducing investor costs. These include the Abu Dhabi Securities Exchange, which reduced commissions by as much as 90% on July 1.

Reporting by Ahmed Tolba; Writing by Patrick Werr; Editing by David Goodman

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