Muscat Securities Market Announces Day Trading

Muscat Securities Market Announces Day Trading

Muscat Securities Market announced introduction of Day Trading on the 13th of November. Day Trading means buying and selling the same shares in the same trading day, or selling existing shares and buying them back in the same day, through the same broker.
Day Trading is usually used by traders seeking to make profits by taking advantage of small price movements in liquid stocks, for that Muscat Securities Market and Oman Brokers Association selected 30 most liquid companies listed in the MSM and traded at least 50% of trading days in 52 weeks to form the eligible list of companies for day trading.
A cap of 200,000 shares is set for each company, meaning that a trader can do day trading and get commission discount up to this cap in each company. Any day trading after the cap will be considered normal trading and the normal trading commission is applied.
About Introduction of Day Trading Mr. Saqar bin Mohammed al-Khalili, Deputy General Manager of Operations & Surveillance sighted that the introduction of Day Trading will attract more investors and improve liquidity leading to a better investment environment and further market development.
Mr. Al Khalili also noted that investors do not need to sign any contracts or documents with their brokers to be fit for Day Trading, all investors (Except Trust Accounts) will get the commission discount each time they execute Day Trades. It is important to note that a broker has the right to ensure that clients have sufficient cash in their accounts for Day Trading.
Muscat Securities Market and Oman Brokers Association will review the list of companies and the Cap on companies after 3 or 6 months.


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