Iraq Stock Exchange Electronic Systems Update
The Director of the Iraq Stock Exchange has just announced an agreement with partners to provide support for electronic trading in the ISX. The company provided the support is The OMX Group
The OMX Group is also providing support in Dubai
I believe we are getting close to see the ISX transition to an electronic trading platform soon. Read the memo below.
Messrs. investors
M / resolution of the Board of Governors
Electronic systems in the securities market Iraq
Nhdikm best greetings ...
We are pleased to inform the Board of Governors adopted resolution firmly eighth meeting of the year 2006
19 / 5 / 2006 on the implementation of the draft regulations for electronic securities market of Iraq, which includes :
1-electronic trading system. Electronic trading
2-central depository. Depository System
3-clearing and financial settlements. Clearing and Settlement
Application of the regulations will be provided by the Company (OMX) The Swedish system is to be applied
Horizon System for the Trading System functions and HSBC System for Settlement and Depository functions.
These regulations are used to :
Bourses Cairo and Alexandria Stock Exchange Dubai, Abu Dubai Stock Exchange, the Stock Exchange Doha, Bahrain Stock Exchange and the Stock Exchange of Palestine. This is for the Arab States of the European system is applied in all countries of Northern Europe.
Approved by the Board of Governors firmly eighth year 2006, after extensive negotiations with the company director (OMX) Over on 18 / 5 and 19 / 5 / 2006 paragraphs of the Agreement on the Maintenance Contract for the continuation of the application and updating of regulations for a period of five years commencing from the date of application and operation of the regulations after the final test, with the exemption of this market cost for the first six months of the duration of maintenance.
To see if the Senelmkm later date began the process of training and application as implementation schedules that will be sustained after it is a process updates the initial and final paragraphs of the regulations and commensurate with the requirements of activity in the Iraqi market securities ... With appreciation.
Copy :
1 - Office of the Board of Governors.
2 - All sections of the market.
3 - Bulletin board.
4 - Iraq site market securities on the Internet.
Taha Ahmed Abdel-Salam
Executive Director
Comments
add this to your post, Taha Ahmed Abdul Salam, Iraq Stock Exchange Market's chief operating officer, said Monday that the Iraqi stock market has joined the Arab bourses union.
Taha, in a statement, said the Iraqi bourse received a cable, on Sunday, from the union approving its accession into the federation This step contributed to a revival of the Iraqi market today, adding that the volume of the traded stocks reached about 400 million stocks, at a value of more than 800 million Iraqi dinars.
http://www.kuna.net.kw/home/Story.as...en&DSNO=873354
things that make you go hmmmm!!
Posted by: J | June 5, 2006 8:03 AM