Weeks of protests, which culminated in the ousting of President Hosni Mubarak, have left Egypt’s political and economic outlook shrouded in uncertainty.
“The Financial Supervising Authority of Egypt and the Egyptian Exchange implemented some temporary measures that should be used to lower the volatility in our markets and these measures are just temporary,” Mohamed Farid Saleh, Vice Chairman of the Egyptian Exchange told CNBC on Monday.
“In addition to that, we requested some extra disclosure from companies related to their performance and potential implications related to what has been happening recently in Egypt,” he said.
Saleh did not provide further details on the temporary measures that will be taken, but Reuters cited state news agency MENA as saying the bourse will suspend trading for 30 minutes if the benchmark index declines by 3 percent and for the remainder of the session if it falls by 6 percent.
Egypt’s stock market plunged over 16 percent in two days prior to its suspension on Jan. 27, while the Egyptian pound fell to its lowest in six years.
Regulators and exchange officials have been wary of reopening the exchange in the wake of the crisis.
Saleh said that the exchange wanted to make sure of everyone is “on a level playing field related to the information available in the market”.