NILEX - Nile Stock Exchange

Trading takes place via an auction session, whereby the brokerage firms are allowed to place their bids and asks, with no price limits. They are also permitted to place bids/asks on the same security at different prices as per their clients' orders.
The auction session is randomly closed anytime within the last 10 minutes of the session. The closing price is determined according to the one that provides the highest liquidity to the mid and small cap market. The closing price is determined according to the following criteria and in case more than one price fulfills a certain criterion, the next criterion is selected. The criteria used to determine the closing price goes in the following order:
- The best price offered during the auction allowing the execution of the highest volume traded.
- The price which leaves the lowest unexecuted amount.
- The closest price to the previous closing price.
- The highest price associated with highest trading value.
The brokerage firms are allowed to amend or cancel their clients' orders during the auction session till the end of the session as per their clients' requests, including either placing, amending or canceling bids/asks or the quantity and the price.

Criteria	Regulations
Session duration	One hour
Session time	12:00 to 1:00
Price Limits	No price limits
Trading Fees	1/10 per thousand of the total value of the transaction with a maximum of L.E 100
Settlement	(T+2)

For Trading, Clearing and Settlement Rules, please click here