12/01/2011Expectations of recovery of the Iraqi Stock Exchange in 2011
بغداد ـ الصباح Baghdad morning
Expect a financial expert to see the Iraqi market for securities relatively advanced during the year 2011, the market is preparing to organize its first congress in April.
He said the managing director of market Taha Ahmed Abdul Salam, the market indicators bode well and this comes at a time when Parliament is preparing to read and approving the budget of the federal 2011.
And presentation of financial expert, and the direct manager of the market, Taha Ahmed Abdul Salam (morning) market indicators and achievements in 2010, where he held the market 237 trading session an average of five sessions per week, and the number of shares traded (25,565,908,500) shares (400 359 889 408) dinars, and corresponding to $ 339 million of during the trading (71 722) a contract was closed the cursor in the last meeting of the year 2010 (10 098) points up from close of 2004, or 0.12 percent, and the index is the number of standard percentage is based on measuring the movement of change in the price of shares of closed joint stock companies traded shares regularly and number of (40) company.
تخفيض العمولات Decrease the commissions
Turning Abdel-Salam for the main activities of the market, characterized by an active electronic trading and central depository, and may work in the market to reduce the commission brokerage firms from trading securities and reduce the commission the market, has also been increasing the capital of brokerage firms list and cancel the vacation brokerage firm did not commit to increase its capital.
اجازات سنوياً 5 vacations a year
He revealed he was awarded five leaves and a new mediation during the year 2010 based on the instructions of the Securities Commission has completed three of them passed the tests and procedures and is now proceed with its business as separate brokerage account for the expense of investors in the bank clearing.
عضوية البورصة الاوروبية الاسيوية Membership of the Euro-Asian Stock Exchange
He noted that the year 2010 witnessed the election of Iraq to membership of the Committee of Executive Directors of the Federation of Euro-Asian Stock Exchanges, referring to Iraq's participation for the first time in the exhibition, the European Asian bourses.
The year 2010 saw the end of the signing of a memorandum of understanding with market Arbil Stock Exchange in order to enable the use of electronic trading mechanisms and the central depository of the market and to give it the required expertise for the exercise of their activity.
The proposal was discussed on the study of market regulation parallel between the Board of Governors and Board of Commissioners of the Securities Commission and work to develop mechanisms for its implementation according to mechanisms of electronic trading.
Revealed Abdel-Salam for the market study instructions and custodian agreement through the work of a local bank is the work of the custody of and was associated with bank-based world to provide the same service internationally. And said: that there is continuity in the acceptance of companies and a new mediation according to the criteria for granting leave and tests at a rate not to exceed five leaves mediation per year as being the inclusion of the joint-stock companies after the availability of new listing requirements, according to the requirements of the law of financial markets and the instructions for listing the securities. The market is currently following up companies that have been traded off for failing to disclose the criteria in coordination with the Securities Commission.
حضور دولي فاعل The presence of an effective international
And on market relations, Taha said that the management of the market as well as the Board of Governors and the Securities Commission are keen to attend conferences and seminars, local, Arab and international and with the active participation of the closer ties of cooperation and development and exchange of experiences.
He concluded by noting that the market seeks to serve the goals of investment and transfer of experience of cooperation with market Arbil Stock Exchange to all Iraqi provinces that you want to order the transfer of expertise, legal and training of staff.
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