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The year 2023.. The stock market trades more than 689 billion shares
January 8, 2024 Last updated: January 8, 2024
The Independent/- The Iraq Stock Exchange witnessed a clear increase in stock trading during the year 2023, by 22% over the year 2022, and
the number of shares traded reached (689,622,894,451) shares with a value exceeding 680 billion dinars, “according to the annual report for 2023 issued by the market.”
The Executive Director of the Iraqi Stock Exchange, expert Taha Ahmed Abdel Salam, said:
The market organized 237 trading sessions on the shares of listed joint-stock companies, which is 0.4% higher than the number of sessions that were organized in 2022. He pointed out that
the number of shares traded amounted to (689,622,894,451) shares, and compared to their number for the year 2022, the number of shares traded (trading volume) in 2023 achieved an increase of 22%, with a total value amounting to (671,809,958,315) dinars, an increase over the value of shares for the year 2022 by 28%. Abdel Salam pointed out that
the number of executed contracts reached (155,920) contracts, an increase of 15% over the year 2022, indicating that the ISX60 traded stock price index closed in the last session of 2023 at (893) points. Compared to the 2022 closing of (585) points, the index for 2023 increased by 52%. He confirmed
the launch of the ISX60 traded stock price index in 2015, starting from the 2/9/2015 session, which is the index of the X-Stream electronic trading system.
The electronic system calculates the ISX60 market index in each session for a sample of (60) listed joint stock companies compared to their prices for the base session of 2014, session 18. March, then the prices of the current session begin to be compared compared to the previous session, and the value of the index is considered a standard value to indicate the directional movement of the market.
He added that the year 2023 witnessed the
Securities Authority amending Regulation No. 16 (insider trading), amending Regulation No. (23) of the undisclosed companies platform, and
amending the Brokerage Firms Licensing Regulations No. (20), and the Authority
issued a new regulation No. (21) for listing, depositing and trading company shares. Not listed, in cooperation with the Central Bank of Iraq and the Companies Registration Department, in addition to the Iraq Stock Exchange, which requires technical procedures on the electronic systems in the market that allowed the addition of these new mechanisms. He explained that
the reasons for the increase in trading indicators for the year 2023 are the
follow-up of the disclosure of joint-stock companies by the Securities Commission with the sectoral bodies, and the
clear interest of shareholders, auditors, sectoral bodies and the Company Registration Department in auditing the results of the work and decisions of the annual joint-stock companies in the meetings of the general bodies, as well as the
commitment The majority of joint-stock companies provide the annual disclosure within its legal timing, and
a number of joint-stock companies distribute the annual dividends. Abdul Salam continued that
among the reasons for the rise in trading indicators were the
implementation of large deals and
a change in the structure of the contributions of a number of banks, which generated interest from investment portfolios in addition to new natural investors in the stock sector, and
not stopping the trading of joint-stock companies depending on the degree of disclosure and
adopting a mechanism to change the company’s standard and classification from A regular platform to the second to the least disclosed or not disclosed, and
success in applying the regulatory regulations and anti-money laundering rules in accordance with the mechanisms of electronic systems in an efficient manner and
holding violators accountable in accordance with these rules,
which created a stable, disciplined market and transparent trading. Abdul Salam stated that
the electronic systems department in the market is working within a committee to negotiate between the Iraqi Stock Exchange and the Securities Commission to
update the central deposit system with a new version,
update the electronic trading system, and
complete a new platform for trading shares of unlisted companies ISX-OTC for trading and transferring ownership of shares and financial and stock settlements.
It is also preparing to implement the development of financial and stock settlement procedures technically and with the T+2 Clearing Bank as soon as the regulatory regulations governing this subject are launched. He stated that
he was part of the committee of the Iraqi government agreement with the Egyptian government signed on 6/30/2023 between the Iraqi Prime Minister and the Egyptian Prime Minister, which approved the minutes of the agreement in paragraph (4) of it on the Egyptian Stock Exchange and the Iraqi Stock Exchange for joint cooperation in
exchanging information. And
expertise for the purpose of developing the performance of non-banking financial institutions (brokerage companies) and
increasing awareness in attracting investors towards establishing new companies,
developing savings and directing them towards investing in securities, as well as
supporting the transition to the digital economy in both countries, and
developing work mechanisms through the exchange of information and legislation. Applicable activities and activities related to securities exchange and legally permitted disclosure in both countries.
Abdel Salam pointed out the organization of several training activities during the year 2023, the most important of which is
organizing an anti-money laundering program for reporting managers in brokerage companies in cooperation with the Anti-Money Laundering Office,
organizing the training program “qualifying new electronic trading authorized persons,” and
organizing a workshop on the electronic trading system for investors OMS & Back. Office Portfolio Management – 10/18/2023 with the Egyptian company EGID via an electronic circuit, as well as
organizing an electronic trading system workshop for investors on OMS & Back Office Portfolio Management – 10/24/2023 with the Arab company DirectFN via the Zoom application.
On the other hand, he indicated that the market pays great attention to training and hosting Iraqi university students from all Iraqi governorates, as
the market has succeeded in training more than 500 students from various universities during the year 2023.
The Executive Director noted the fruitful cooperation with Arab financial markets, especially the
Egyptian Stock Exchange, the
Amman Financial Market, and the
Muscat Securities Market,
in organizing programs to exchange experiences and train brokers and market workers.
And the market’s success in competing within Arab financial market indicators within the Arab Monetary Fund index and database.
[You must be registered and logged in to see this link.]
January 8, 2024 Last updated: January 8, 2024
The Independent/- The Iraq Stock Exchange witnessed a clear increase in stock trading during the year 2023, by 22% over the year 2022, and
the number of shares traded reached (689,622,894,451) shares with a value exceeding 680 billion dinars, “according to the annual report for 2023 issued by the market.”
The Executive Director of the Iraqi Stock Exchange, expert Taha Ahmed Abdel Salam, said:
The market organized 237 trading sessions on the shares of listed joint-stock companies, which is 0.4% higher than the number of sessions that were organized in 2022. He pointed out that
the number of shares traded amounted to (689,622,894,451) shares, and compared to their number for the year 2022, the number of shares traded (trading volume) in 2023 achieved an increase of 22%, with a total value amounting to (671,809,958,315) dinars, an increase over the value of shares for the year 2022 by 28%. Abdel Salam pointed out that
the number of executed contracts reached (155,920) contracts, an increase of 15% over the year 2022, indicating that the ISX60 traded stock price index closed in the last session of 2023 at (893) points. Compared to the 2022 closing of (585) points, the index for 2023 increased by 52%. He confirmed
the launch of the ISX60 traded stock price index in 2015, starting from the 2/9/2015 session, which is the index of the X-Stream electronic trading system.
The electronic system calculates the ISX60 market index in each session for a sample of (60) listed joint stock companies compared to their prices for the base session of 2014, session 18. March, then the prices of the current session begin to be compared compared to the previous session, and the value of the index is considered a standard value to indicate the directional movement of the market.
He added that the year 2023 witnessed the
Securities Authority amending Regulation No. 16 (insider trading), amending Regulation No. (23) of the undisclosed companies platform, and
amending the Brokerage Firms Licensing Regulations No. (20), and the Authority
issued a new regulation No. (21) for listing, depositing and trading company shares. Not listed, in cooperation with the Central Bank of Iraq and the Companies Registration Department, in addition to the Iraq Stock Exchange, which requires technical procedures on the electronic systems in the market that allowed the addition of these new mechanisms. He explained that
the reasons for the increase in trading indicators for the year 2023 are the
follow-up of the disclosure of joint-stock companies by the Securities Commission with the sectoral bodies, and the
clear interest of shareholders, auditors, sectoral bodies and the Company Registration Department in auditing the results of the work and decisions of the annual joint-stock companies in the meetings of the general bodies, as well as the
commitment The majority of joint-stock companies provide the annual disclosure within its legal timing, and
a number of joint-stock companies distribute the annual dividends. Abdul Salam continued that
among the reasons for the rise in trading indicators were the
implementation of large deals and
a change in the structure of the contributions of a number of banks, which generated interest from investment portfolios in addition to new natural investors in the stock sector, and
not stopping the trading of joint-stock companies depending on the degree of disclosure and
adopting a mechanism to change the company’s standard and classification from A regular platform to the second to the least disclosed or not disclosed, and
success in applying the regulatory regulations and anti-money laundering rules in accordance with the mechanisms of electronic systems in an efficient manner and
holding violators accountable in accordance with these rules,
which created a stable, disciplined market and transparent trading. Abdul Salam stated that
the electronic systems department in the market is working within a committee to negotiate between the Iraqi Stock Exchange and the Securities Commission to
update the central deposit system with a new version,
update the electronic trading system, and
complete a new platform for trading shares of unlisted companies ISX-OTC for trading and transferring ownership of shares and financial and stock settlements.
It is also preparing to implement the development of financial and stock settlement procedures technically and with the T+2 Clearing Bank as soon as the regulatory regulations governing this subject are launched. He stated that
he was part of the committee of the Iraqi government agreement with the Egyptian government signed on 6/30/2023 between the Iraqi Prime Minister and the Egyptian Prime Minister, which approved the minutes of the agreement in paragraph (4) of it on the Egyptian Stock Exchange and the Iraqi Stock Exchange for joint cooperation in
exchanging information. And
expertise for the purpose of developing the performance of non-banking financial institutions (brokerage companies) and
increasing awareness in attracting investors towards establishing new companies,
developing savings and directing them towards investing in securities, as well as
supporting the transition to the digital economy in both countries, and
developing work mechanisms through the exchange of information and legislation. Applicable activities and activities related to securities exchange and legally permitted disclosure in both countries.
Abdel Salam pointed out the organization of several training activities during the year 2023, the most important of which is
organizing an anti-money laundering program for reporting managers in brokerage companies in cooperation with the Anti-Money Laundering Office,
organizing the training program “qualifying new electronic trading authorized persons,” and
organizing a workshop on the electronic trading system for investors OMS & Back. Office Portfolio Management – 10/18/2023 with the Egyptian company EGID via an electronic circuit, as well as
organizing an electronic trading system workshop for investors on OMS & Back Office Portfolio Management – 10/24/2023 with the Arab company DirectFN via the Zoom application.
On the other hand, he indicated that the market pays great attention to training and hosting Iraqi university students from all Iraqi governorates, as
the market has succeeded in training more than 500 students from various universities during the year 2023.
The Executive Director noted the fruitful cooperation with Arab financial markets, especially the
Egyptian Stock Exchange, the
Amman Financial Market, and the
Muscat Securities Market,
in organizing programs to exchange experiences and train brokers and market workers.
And the market’s success in competing within Arab financial market indicators within the Arab Monetary Fund index and database.
[You must be registered and logged in to see this link.]
