Iraq Dinar Speculation

The Iraqi Stock Exchange, which currently trades on a manual platform, is planning to start trading electonically, starting with these 5 companies: -Al-Mansour Bank

- Al-Mansour Bank

- Ashur International Bank

- Commercial Bank

- Al-Mansour Hotel

- Ishtar Hotel

Source: http://www.isx-iq.net/

Below is the text, as seen on isx-iq.net at 10AM CST (GTM-6) on April 3, 2009.

Dear All,

I had received many questions from Non Iraqi’s Investors which they are interested with knowing information about the Electronic Trading.

So this the ISX answer about those questions:-

1- the Board of Governors had made a plan to transfer the listed companies from manual trading to electronic trading, and we shall start with five companies which they are selected by the Board to be traded Electronically in April 2009:

-Al-Mansour Bank

- Ashur International Bank

- Commercial Bank

- Al-Mansour Hotel

- Ishtar Hotel

off course after we make sure that many of shareholders in those companies had deposit their physical certificate in the Depository before we start the first session , and we are going to have many groups each group have many companies to be transferred from Manual to Electronic

2- We worked in that project since the beginning of 2007, purchase the system from OMX Technology, training for the staff and for brokers, built wide area network in Baghdad and also build trading Floor in ISX, published rules and regulations for the Trading and for the Depository. So we are very optimistic of have new face for the Stock Exchange which is matching with standardization and we also understand that it will make the shares turnover be more than better when we started the Electronic Trading .

3- We are excepting to have approved for the new Securities Law, and its regulation before the end of this year and we put the draft for that Law and regulation in ISX website.

We are very happy to receive any questions from you for every one benefit.

Best Regards.

Taha A. Abdul salam

CEO

April. 01, 2009

Related posts:

1. April 19 2009 – Iraq Stock exchange goes digital!
2. ISX electronic trading considered a success!
3. ISX ran it’s 4th electronic session yesterday..
4. Some thoughts on the ISX…
5. ISX trading 5 days starting November 1st

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