EGX to Resume Sessions Tomorrow at Regular Trading Hours

The board of the Egyptian Stock Exchange (EGX) announced that it will resume its sessions at regular trading hours starting Sunday, May 31.

The trading hours will be as follows:

The daily trading session hours for the Stock Exchange's main index, as well as for small and medium-sized enterprises on the Nile Stock Exchange (NILX) will start at 10 am until the closing bell at 2.30 pm, preceded by the exploratory session from 9:30 am.

The registering of placements for the large-size market will start from 9:15 am to 9:30 am and recording orders in the deals market from from 9:30 am to 9.45 am.

Moreover, Time to pide Omnibus Accounts will be from 2.30 pm to 3.30 pm.

The trading session dates for non-listed securities (out-cabin order market) will be on Mondays and Wednesdays from each week from 12:00 pm to 12:30 pm.

The opening bell of the trading session for non-listed Over-The-Counter Market (OTC)will be at 9:30 AM until 11:00 PM.

EGX activates remote trading

In line with the comprehensive strategy adopted by The Egyptian Exchange to mitigate contagion risk of the pandemic Coronavirus (COVID-19), EGX launched remote electronic systems for its different sectors; coding, membership and omnibus system, in addition to the remote trading system already activated, allowing market participants to work remotely.

Earlier, EGX activated remote working for its employees using smart technology allowing remote business continuity for its employees without any need to attend the workplace.

"These developments goes on pare with the Egyptian government plan for a complete digital transformation” Mohamed Farid Saleh, Executive Chairman of EGX said last March, adding that all actions taken in this regard are being pursued as necessary measures to ensure the safety and stability of the market.

It is noteworthy that the Egyptian Stock Exchange management decided to suspend trading sessions on the occasion of Eid Al-Fitr from Sunday, May 24 until Thursday, May 28, 2020, resuming work on the morning of Sunday, May 31.