Egypt’s financial regulator has approved the stock exchange’s decision to reduce trading halt times to 15 minutes down from 30 minutes as of Tuesday’s session, the exchange said on Monday.
The regulator did it in an effort to boost market activity.
The decision will lead to a shortening of the time for which trading can be temporarily halted on a security during a session due to a price change.
The decision will provide the bourse management the flexibility to increase or decrease halt times within a 15 to 30 minute range,” it said in a statement.
The exchange currently suspends trading on stocks that rise or fall by over five per cent for more than 30 minutes.
It said on Monday that the decision to halve the suspension time was aimed at increasing market activity and attracting foreign investors.