The Clap
The FRA is working on establishing a company for futures contracts as a first step in creating a market for the securities.
Future Contracts
A future contract is an agreement between two parties to buy or sell an asset for a specified amount at a specified time in the future, regardless of the price of the asset at the time.
The Deets
According to Al Mal, the FRA is planning to make the EGX the main shareholder in the company being established, after it had been determined that its share would be 10% of the company as a maximum.
Why this Matters
Establishing a futures market is an attempt to diversify investment instruments in the Egyptian market.
Futures market on the horizon? 👀
