The Egyptian Exchange's management has released on Sunday the list of the EGX-listed firms qualified to practice a number of bourse systems, notably the same-day trading mechanism (T+0) which is expected to return to the Egyptian market very soon. In the EGX's list, there are around 102 listed firms. The EGX's list for the firms ready to practice the T+0 Mechanism includes; Ismailia National Company for Food Industries (Foodico) (INFI.CA), Cairo Poultry (POUL.CA), Mansourah Poultry (MPCO.CA), Egypt for Poultry (EPCO.CA), International Co. for Agricultural Crops (IFAP) (IFAP.CA), ASEC Company for Mining (ASCM.CA), Arabia Investments, Development (AIND.CA), Delta Construction & Rebuilding Co. (DCRC.CA), Upper Egypt Contracting (UEGC.CA), Giza General Contracting & Real Estate Investment (GGCC.CA), Egyptian for Developing Building Materials (LIFT SLAB MISR) (EDBM.CA), El Nasr For Manufacturing Agricultural Crops (ELNA.CA), Delta Sugar Co. (SUGR.CA), Sharkia National Food (SNFC.CA), Middle Egypt Flour Mills (CEFM.CA), Egyptian Starch & Glucose (ESGI.CA), National Maize Products (NCMP.CA), Juhayna Food Industries (JUFO.CA), Arab Cotton Ginning (ACGC.CA), Arab Polvara Spinning & Weaving (APSW.CA), El Nasr Clothing & Textile (KABO.CA), Rakta Paper Manufacturing (RAKT.CA), Alexandria Mineral Oils Co. (AMOC.CA), Sidi Kerir Petrochemicals (SKPC) (SIDPEC.CA), Universal for Paper and Packaging Materials (Unipack) (UNIP.CA), GlaxoSmithKline (BIOC.CA), Egyptian Chemical Industries (Kima) (EGCH.CA), Misr Chemical Industries (MICH.CA), Extracted Oils (ZEOT.CA), Egyptian Financial & Industrial (EFIC.CA), Kafr El Zayat Pesticides and Chemicals (KZPC.CA), El Ezz Porcelain (Gemma) (ECAP.CA), Ezz Steel (ESRS.CA), South Valley Cement (SVCE.CA), Sinai Cement (SCEM.CA), Egyptian Iron & Steel (IRON.CA), Arab Valves Company (ARVA.CA), Engineering Industries (ICON) (ENGC.CA), El Nasr Transformers (El Maco) (NASR.CA), Electro Cable Egypt (ELEC.CA) On March 12th, the financial regulator chief announced that the same-day trading mechanism which is known as T+0 will return to the Egyptian market very soon, by the end of next June at the maximum. Dr. Ashraf El-Sharkawy - the Chairman of the Egyptian Financial Supervisory Authority (EFSA) – noted that the T+0 settlement mechanism will return amid the relative stability the Egyptian market currently witnesses. Under the T+0 mechanism, traders will be allowed to sell any portion of their available stocks and then buy them again at the same session. Settlement will also be undertaken on the same day. It is worth noting that the Egyptian Exchange (EGX) management halted the same-day trading mechanism following the January uprising in 2011 as uncertainty swept the market. Trading settlement in Egypt's stock market is currently undertaken using a T+1 system for government bonds and a T+2 system for all other securities.
