Cairo - Mubasher: The Egyptian Exchange's (EGX) board of directors approved a new methodology for calculating the closing prices of shares, which will be effective as of 1 September. 

The new methodology uses a 30-minute moving-volume weighted average price (Moving VWAP) instead of the current VWAP methodology, which takes into account all the traded volume throughout a daily session to determine the closing prices of shares, the EGX said in a statement on Sunday. 

The EGX will also introduce the trade-at-close session which allows participants, after a closing price is determined, to trade securities at that closing price during the last 30 minutes of the session. 

Moreover, the limit on intraday share price moves has been set at 20% for the main market and 10% for the small- and mid-cap market.

These amendments are expected to improve the accuracy of closing prices and boost institutional investments in the EGX.