Thaiville
04-01-2009, 11:48 PM
All:
The ISX website posted a announcement related to the up and coming "BIG BANG" Electronic vs. Manual system about to get placed. I'm having a VERY difficult time copying and pasting the announement which includes 3 banks and two hotels that will go electronic first.
I will attach the pathway though for you to access.
http://www.isx-iq.net/page/index.htm (http://www.isx-iq.net/page/index.htm)
Dear All,
I had received many question from Non Iraqi’s Investor 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 the brokers, build wide area network in Baghdad and also build trading Floor in ISX, published rules and regulation 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 1, 2009
The ISX website posted a announcement related to the up and coming "BIG BANG" Electronic vs. Manual system about to get placed. I'm having a VERY difficult time copying and pasting the announement which includes 3 banks and two hotels that will go electronic first.
I will attach the pathway though for you to access.
http://www.isx-iq.net/page/index.htm (http://www.isx-iq.net/page/index.htm)
Dear All,
I had received many question from Non Iraqi’s Investor 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 the brokers, build wide area network in Baghdad and also build trading Floor in ISX, published rules and regulation 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 1, 2009