Cairo – Mubasher: HC Securities & Investment signed a cooperation agreement with Contact Factoring to finance the former's customers conducting margin trading at a value of EGP 400 million.
This partnership provides the first factoring program for financing the activity of buying securities on margin, which will contribute to boosting the trading value on the Egyptian Exchange (EGX) and increasing the number of traders, according to a statement on Wednesday.
This comes in line with the Financial Regulatory Authority's (FRA) decision issued in 2021, allowing factoring companies to finance margin trading by brokerage companies.
