CAIRO  - Egypt’s stock exchange will reduce the length of time it halts trading in a stock after a major price move to 10 minutes from 15 minutes starting on Sunday, its chairman said.

Mohamed Farid, head of the stock exchange, said the purpose of the change was to “strengthen liquidity and market activity and achieve sustainability and continuity of trading”.

The bourse would allow margin trading and same-day settlement on new offerings immediately after their shares start trading on Sunday, he said.

The stock exchange had reduced trading halt times last year to 15 minutes from 30 minutes. (Reporting by Ehab Farouk Writing by Lena Masri Editing by Edmund Blair)

© Reuters News 2018