Pharos Holding for Financial Investments, a leading Investment Bank in Egypt, announced that it’s brokerage subsidiary has received the license for margin trading on the Egyptian stock market from the Capital Markets Authority (CMA). This comes on the back of the license for Intra-Day trading received on September 21st, 2008. With these two additions, Pharos completes the portfolio of services supporting its securities brokerage clients which include Global Depository Receipt (GDR) trading, an expanding retail brokerage branch network, and a world-class research department. The Capital Markets Authority granted the margin trading license after thorough inspection, evaluation, and testing of Pharos’ procedures, technology and personnel. Only a small percentage of the licensed brokerage firms in Egypt (around 10%) has been granted the license to conduct margin trading by the CMA.
“Receiving the margin trading license complements our product offerings and will allow us to expand our client base and our trading volume significantly” explained Hussein El Sherbiny, Pharos Managing Partner responsible for Securities Brokerage. “There is very high demand in the Egyptian market for both margin and intra-day trading. However, using these tools needs a certain set of skills and qualifications. Our experienced and well-trained team will be able to assist our clients in utilizing these tools in an optimum and secure way. The events of the last period have demonstrated to investors that it is crucial to be dealing with a firm that applies these tools in a responsible manner.”
*Source: ME NewsWire
*View this release online and download high resolution images and logos at:
http://www.me-newswire.com/content/view/387/lang,en/
About Pharos Holding for Financial Investments
Pharos Holding for Financial Investments is an Egypt-based Investment Bank offering a complete range of investment solutions to investors demanding the highest standards of service. The firm was founded by its Chairman, Dr. Mohamed Taymour, in 2006 along with a group of financial industry veterans with vast experience in the Egyptian, Gulf and international financial markets. Today, the firm offers Securities Brokerage, Research, Investment Banking, and Asset Management to institutional and high-net-worth investors in both the region and internationally.
