Iraq Stock Exchange

The Iraq Stock Exchange (Eng. " Stock Exchange of Iraq ", abbreviation ISX ) is the Stock Exchange of Iraq. It was opened on 24 June 2004 and has its headquarters in Baghdad. Trading on the stock market held on Mondays and Wednesdays between ten and twelve clock. The stock market is a non-profit organization whose owners are the broker. The government of Iraq has no authority, supervision by a Securities and Exchange Commission.

Background

History

As early as 1992 there was in Baghdad a stock exchange. This, however, was completely controlled by the state, which is why today's stock market explicitly does not consider itself as their successor.

The trading took place at the beginning in the back room of a restaurant, but in the meantime it is located in a private gated building.

Trading system

The trading on the Iraq Stock Exchange currently based on a system in which the rate changes are noted even by hand on a blackboard. Funded by international donations totaling 7 million U.S. dollars a trading system of the Swedish-American exchange Nasdaq OMX is currently being implemented, however, intended to take over the electronic trading on the Iraq Stock Exchange in the future.

Market Data

Listed in 2007 were 93 companies, in 2006 there were 80, of which 29 industrial companies, 18 banks, 13 service providers, ten Argrarunternehmen, 10 companies from the hospitality and tourism industry, nine investment companies and four insurance companies.

In 2006, the market capitalization two trillion dinars. The " ISX index " of the stock market had in 2004 a level of 64.996 points, by the end of June 2007, it fell to 25.694 points. Since April 2007, foreign investors may trade on the exchange.