Dinardreams
12-15-2004, 11:06 AM
Volume slides to rock bottom levels as ISX prepares to close for end of year break, December 15
http://www.isx-aman.com/
To read the entire article, go to the link above....
Today was the first of the last two trade sessions of the year as the ISX prepares to take a 10 day break at the end of the 2004 financial year. Volume slipped in today's trade to rock bottom levels of mere $300,000 and prices went down in very cold trade.
In addition the ISX took some moves to liberalize the market; the most obvious was the removal of ceilings and floors on price movements. Other moves such as opening up trade to non-Iraqis were blocked by the Securities Commission which is a newly established government regulatory agency established by the Interim Securities law promulgated by the Coalition Provisional Authority and endorsed by the then ruling Iraqi Governing Council (interim Iraqi government).
What makes the task of managing the ISX that more difficult is the overall economic environment and the investment climate. Hopefully this will improve over time to facilitate the operation and expansion of the market. A hands off approach by the existing and next government of Iraq will certainly also help. This will be the biggest challenge facing the market.
:huge:
http://www.isx-aman.com/
To read the entire article, go to the link above....
Today was the first of the last two trade sessions of the year as the ISX prepares to take a 10 day break at the end of the 2004 financial year. Volume slipped in today's trade to rock bottom levels of mere $300,000 and prices went down in very cold trade.
In addition the ISX took some moves to liberalize the market; the most obvious was the removal of ceilings and floors on price movements. Other moves such as opening up trade to non-Iraqis were blocked by the Securities Commission which is a newly established government regulatory agency established by the Interim Securities law promulgated by the Coalition Provisional Authority and endorsed by the then ruling Iraqi Governing Council (interim Iraqi government).
What makes the task of managing the ISX that more difficult is the overall economic environment and the investment climate. Hopefully this will improve over time to facilitate the operation and expansion of the market. A hands off approach by the existing and next government of Iraq will certainly also help. This will be the biggest challenge facing the market.
:huge: