IRAQI STOCK EXCHANGE TRADING DAYS & INCREASE IN SHARES TO RAISE 2 TRILLION

Hayat
Posted 28/12/2009 06:00 AM

According to Executive Director of «the Iraqi market for securities» Taha Ahmed Abdul Salam, the market recorded during the current year, a new stage in its investment was to increase the number of weekly sessions of three to five, contributing to the higher rate of cycle stock, at a time when the number of issued shares and included about 400 billion to Trliuni shares, particularly shares of the banking sector, which absorbed electronic trading.

The Salam for the «life» that the market recorded a quantum leap through the transition from manual to electronic trading, as the inclusion of over 90 percent of the companies participating in the electronic trading platform after it was launched in April (April) last year.

He also expressed optimism in the future of the Iraqi Stock Exchange, and added: «We will find the rules governing the work of the Bank of guarantor of the shares deposited, as well as the work of the Center for Innovation and bank electronic clearing and settlement, and to facilitate the trading agents and brokers through more than one station, in the light of the successful experience of trading after» .

And announced the launch of the website of the Iraq market, which transmits market signals immediately.

He predicted the emergence of new shareholding companies in the stock market in 2010, particularly in Iraq's air transport sector and telecommunications companies, and noted to promote the application of acceptance of the companies and the rules regulating the profession of mediation in the stock market using new technologies and new electronic applications to be announced in due course.

He said you need to exchange, approval of the laws of economic fundamentals in general, the new Securities Law in particular, and said that there was two wheels in the direction of nozzles, namely the contrast between the use of primitive patterns and methods of work and the importance of keeping abreast era of technology and scientific advances in performance and the type of services must be achieved in everyday life, such as the use of smart cards and credit cards instead of carrying cash, and reduce administrative red tape with the modernization of laws.

The «Iraqi market for securities» was founded in April (April) 2004 instead of «market Baghdad Stock Exchange» and suffered over the past years of considerable constraints curbed development.

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