ISX Shares Purchased Through My Broker In US?

[WishBone]

http://en.aswataliraq.info/?p=107846


Stock market to launch electronic trading
February 10, 2009 - 12:34:46
BAGHDAD / Aswat al-Iraq: The Iraqi stock market by the end of this month will start the process of moving to electronic trading, the market’s executive director said on Tuesday.
“The market will take a number of measures to start electronic trading sessions,” Taha Ahmed Abdelsalam told Aswat al-Iraq news agency.
“The process of checking and testing the market’s electronic systems has been completed,” he said.
“Five companies have been selected to start this transformation,” he added.

[diamondback]

Nice!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!

[tonytz123]

I just might buy some bank stock now..........

[CANMAN]

Okey, which companys????any ideas?

[Larry]

--------------------------------------------------------------------------------

To: Iraq Stock Exchange Investors
Subject: Electronic Trading System Dematerialization Procedures
The Iraq Stock Exchange (ISX) is delighted to inform shareholders that dematerialization will start on February-22,2009 for share records registration of the following five listed companies:

1. Iraqi Investment Bank
2. Iraqi Islamic Bank
3. Ashur International Bank
4. Al-Mansour Bank
5. Al-Mansour Hotel

Thesecompanieshave signed agreements with the Iraqi Depository Center (IDC).Thecompanieswillbeginto transfershareholderData from their shareholder registry to the Depository system at the IDC. Other listed companies will be transferred in the near future.
ISX requests the shareholders of the five companies, mentioned above, to ask their brokerage companies to initiate the required steps of formal registration in IDC depository system on March-07.2009


The registration will require the following forms and credentials:
1. Completing an Investor Account application form.
2. The brokerage account opening Form.
3- If you are already a share holder in one, or more of the above five listed companies, you need to fill the Deposit shares form and attached the following documents:
a. Companies shares ownership certificate.
b. A copy of Iraqi Nationality certificate (for Iraqi shareholders).
c. A copy of passport (for non-Iraqi shareholders).
d. A copy of civil Identity card.

Regards,
Taha Abdul Salam
Chief Executive Officer

[buck74]

Sweetness, I never had any doubts, but it is nice to finally see things moving.



http://en.aswataliraq.info/?p=107846


Stock market to launch electronic trading
February 10, 2009 - 12:34:46
BAGHDAD / Aswat al-Iraq: The Iraqi stock market by the end of this month will start the process of moving to electronic trading, the market’s executive director said on Tuesday.
“The market will take a number of measures to start electronic trading sessions,” Taha Ahmed Abdelsalam told Aswat al-Iraq news agency.
“The process of checking and testing the market’s electronic systems has been completed,” he said.
“Five companies have been selected to start this transformation,” he added.

[stevie]

Is this saying we don't have to go the Iraqi Embassy route? Just a copy of our passports. That would be nice, less expensive.

[stevie]

Nevermind. Looks like "Companies Share Ownership" would mean you have registered with the Embassy. I think.

[iron_mann]

can you still purchase stocks at this time via proxy through warka, even if you have never done so before?

[mailman17]

can you still purchase stocks at this time via proxy through warka, even if you have never done so before?

good question?

[JPmonopoly]

Seems I saw newbies wouldn't be able to use the proxy

Cowpoke?
Posted via Mobile Device

[Luko1234]

What???? Newbies Canot go through the proxy

[Chaka]

it will be a few years before US brokers hop on the ISX for a few reasons

First there needs to be minimum 100 companies--(guideline more than rule)
Second couple years of verifiable financials(verifiable loosely used because even some of the US stock companies fudged their numbers) Basically the quarterly and annual filings

Individual brokers tend to wait until after the larger funds hop in...It took nearly 5 years before large investment funds went into Vietnam. However, they did begin investing few months before online trading but the market had 5 yrs under its belt.

Part is common sense for both broker and individal investment perspectives:
As US Broker-- Are you really going to push an ultra high risk investment still considered war zone with little history or volume?

Individual- With the recent US credit crisis-which many believed was fail safe- how many are ready to invest in an ultra high risk investment with little history or volume?

What ISX investors need is for more Iraqis to invest, work more regional neighbor investors into ISX and expand globally.
I believe once this occurs we will see some US funds/brokers get on board

Be Patient