Thursday, April 16, 2009
Iraq begins E-Trading in ISX for the first time
Translated by IRAQdirectory.com - [4/15/2009] It was scheduled that investors to enter the Iraqi bourse next Sunday after preparations continued for nearly 20 months to adopt electronic software and training of managers, employees and intermediaries in the market. The Chief Executive Officer of the Iraqi Stock Exchange, Taha Ahmed Abdul Salam stated on Tuesday that the completion period of this project is considered as a record, that many of the neighboring countries could not implement such project before four years. He explained that the five-stock companies in the market whose shares will begin trading electronically for the first time are (Ashur) bank, (Mansour) bank, (commercial)bank, (Al-Mansour Hotel) and (Ashtar Hotel) in order not to confuse the shareholders, brokers and investors at the start of electronic trading. Taha said that the market is keen to achieve success in the operation of the new system without causing any imbalance in the trading; trading will be accompanied by a manual to electronic trading, until the inclusion of all companies.