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The Financial Regulatory Authority (FRA) has issued a resolution regulating the trading of government securities and financial instruments on the secondary market, as per a statement.
The resolution includes creating a registry at the FRA that encompasses all companies and entities eligible to trade government securities and financial instruments on the secondary market.
It stipulates registering primary and non-primary dealer banks, bond brokers, and investment funds.
However, primary dealers shall submit an acknowledgment that they are able to connect automatically to the Egyptian Exchange (EGX) trading system and settlement system.
Moreover, the issued and paid-up capital of bond brokers and investment funds shall not be less than EGP 15 million for three months.
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