usajmg93f
10-21-2004, 05:51 PM
News on the ISX front, I think they could really get things jump started if they would just let us in to the mix.......Anyway enjoy
The euphoria and fanfare surrounding Iraq Stock Exchange when it was first reopened last July has dissipated into gloom and dullness. Including today's trade, the market has been on the retreat for the sixth session in a row. With trade taking place only two sessions per week, the market has managed to loose some 30% of its value in three weeks. Iraqi shareholders, including thousands of pensioners are busy counting their losses. To the dismay of brokers, high expectations of larger volume and bigger business have withered away. The fifty or so brokers licensed by the ISX had to compete today for a slice of in turnover of a miserable half a million dollars. Brokerage business in the ISX is commissioned based and is fixed at 1% for each buy or sell transaction. The ISX takes 20% of this commission. In todays trade this leave $8,000 of commission income to go round 50 brokers; this is $160 per broker which may be enough to buy lunch for their staff.
http://www.isx-aman.com/news/rep_10-20.htm
The euphoria and fanfare surrounding Iraq Stock Exchange when it was first reopened last July has dissipated into gloom and dullness. Including today's trade, the market has been on the retreat for the sixth session in a row. With trade taking place only two sessions per week, the market has managed to loose some 30% of its value in three weeks. Iraqi shareholders, including thousands of pensioners are busy counting their losses. To the dismay of brokers, high expectations of larger volume and bigger business have withered away. The fifty or so brokers licensed by the ISX had to compete today for a slice of in turnover of a miserable half a million dollars. Brokerage business in the ISX is commissioned based and is fixed at 1% for each buy or sell transaction. The ISX takes 20% of this commission. In todays trade this leave $8,000 of commission income to go round 50 brokers; this is $160 per broker which may be enough to buy lunch for their staff.
http://www.isx-aman.com/news/rep_10-20.htm