Egypt’s Financial Regulatory Authority (FRA) has held its first training program on the new short selling framework, drawing more than 100 participants from 42 brokerages and financial institutions. Delivered by the authority’s Financial Services Institute, the program prepared staff to execute and monitor transactions. Brokerages seeking authorization must have at least one officer responsible for short selling who meets the prescribed qualifications, including passing examinations or training courses specified by the FRA. The training addressed collateral management and coverage ratios, settlement of valuation differences, and procedures for closing positions and returning borrowed securities. It also covered the central lending system and the recently issued model contract governing relationships between brokerages and borrowers, linking staff preparation to the contractual framework already established ahead of launch. Live testing of the central lending system developed and operated by Misr for Central Clearing, Depository and Registry continues alongside work to complete regulatory provisions and practical guidance.
Egypt’s Financial Regulatory Authority trains more than 100 staff from 42 firms ahead of short selling launch
Egypt’s Financial Regulatory Authority has held short selling training for more than 100 participants from 42 brokerages and financial institutions ahead of the mechanism’s launch. Applicant brokerages must have at least one responsible officer who passes the prescribed examinations or training. The program covered collateral controls and position closure while live testing of the central lending system continues.