(MENAFN) The Egyptian Capital Market Association (ECMA) will cut the fees gained by MCDR for settling selling and buying operations using T+1 and T+0 mechanisms.
Furthermore, ECMA wanted a reduction in the charges on all processes carried out using the two mechanisms, in which the ratio of 1/8 per operation would be cut to 1/6 in a thousand.
Accordingly, reason for the rejection is that MCDR puts a high limit of USD 636.65mn for the fees it obtains from each operation, which means that there is a limit.
T+1 is a settling device that permits investors to sell shares the next day after they buy them, whereas the T+0 mechanism is a prompt mechanism that allows trading securities.
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