HC Brokerage signed a cooperation agreement with Contact Factoring for launching the first margin lending factoring program, aimed at financing HC retail clients interested in Margin Trading, with a total value of EGP400mm. This program will contribute in growing the trading volume in the Egyptian stock market and allows easier access to financing for retail and institutional clients.
This HC Contact cooperation comes in line with the decisions of the Financial Regulatory Authority to allow factoring companies to provide quick loans for the retail clients of brokerage companies who offer margin trading. This cooperation conveys Contact’s confidence in HC as one of the biggest brokerage companies in Egypt, based on the trading volume and array of services that HC provide to a large base of clients, both institutions and retail.
Hassan Choucri, Managing Director of HC Brokerage, affirmed that this agreement allows great opportunities for a multitude of stock market investors across all segments, by facilitating the needed financing through the first margin lending factoring program. He noted that HC concluded this deal based on its extended expertise in the stock market, as well as its strong relations with its clients and NBFS companies.
He added that “Brokerage companies mainly depended on their own resources to serve margin traders. Given the current interest in encouraging small retail investors to trade and spread the culture of stock market investments, such agreements offer great opportunities for injecting new money, where clients can trade with larger sums, which in turn increases the market liquidity and creates a better investment environment.”
About HC Brokerage
- HC Brokerage has rapidly developed into one of the top brokerage firms in Egypt. HC Brokerage provides its services to a wide client base of corporate institutions and High Net-Worth Individuals. Since 1999 HC Brokerage has developed a growing client base that has benefited from a multitude of services and a trusted team that aims for the utmost benefit and client satisfaction.
- HC Brokerage is a subsidiary of HC Securities & Investment, one of the most distinguished investment banks in Egypt and the Middle East which was established in 1996 and has fully operational offices in Egypt and the middle east.
- HC Brokerage provides its clients with a wide- array of services, including: Brokerage for securities listed on the Egyptian Exchange and Brokerage for Global Depository Receipts (GDRs) issued by Egyptian companies and listed on the London Stock Exchange. In addition, Brokerage for Sovereign and Corporate bonds, Intermediation for transactions involving unlisted securities in the Egyptian over-the-counter (OTC) market and listing of companies on the Egyptian Exchange. HC Brokerage also provides Online-trading services, bonds and foreign securities trading.