Minister of Investment, Dr. Mahmoud Mohieldin issued 2 new decrees; the first entitles companies working in the capital market to undertake market maker activities, while the second adds ''administration services'' to companies working in investment funds management.
A market maker quotes both bid and ask prices on a certain security, and stands ready, willing, and able to buy or sell at these prices if met. It is obliged to buy when there is an excess of sell orders and to sell when there is an excess of buy orders.
''The second decree aims at enhancing and deepening the Egyptian capital market by different investment instruments and products with high liquidity, building on the success in attracting Egyptian and foreign investments.
The decree stipulates that companies performing this activity shall register and settle transactions on unlisted securities of investment funds, and shall keep documents of fund's real estate assets, according to the rules of trading investment securities defined in the second section of the third chapter of the executive regulations of the capital market law.
This decree is expected to allow new activities within the strategy of the Investment Ministry and the Capital Markets Authority which will contribute to the growth of investments in this market''. ''Ministry PR'':
