FEDERATION OF EURO-ASIAN STOCK EXCHANGES > YEARBOOK 2002/2003 > PAGE 17
AMMAN STOCK EXCHANGE
Trading
Days
Hours: Pre-opening session: bonds,
mutual funds, third market companies
Trading session: bonds, mutual funds,
third market companies
Pre-opening session: first & second markets
Trading session: first & second markets
Block trades: all markets
Market segmentation
System
Mechanisms
Market maker/specialists
Instruments
Currency
Real time information
Clearing & Settlement
Sunday-Thursday
9:30-9:35
9:35-9:55
9:30-10:00
10:00-12:00
12:00-12:15
First, second and third markets, bonds,
mutual funds, foreign securities allowed
Automated, remote access, intranet,
depository links, WAN
Continuous auction
No
Stocks, bonds, mutual funds
Local
Best bid/ask, last price, last volume,
total volume, price index
Structure & Regulations
Legal
Regulation
Securities market regulations
Trading rules
Surveillance
Corporate actions
Trading halts regulations
Investor protection
Yes, electronic
T+5
Yes
Book entry
Transaction by transaction
No
No
No
No
Banks
Foreign Participation
Special status
Self
Exchange with regulator approval
Responsibility of exchange
Yes, electronic
Managed by issuer
Yes, if necessary
Brokers guarantee fund
Foreign investors
Investment limitations
Repatriation
Allowed, no restrictions
No limitation
No restrictions
Non-Jordanian Ownership
Taxes
Cash dividends
Interest income
Capital gains
Central depository
Period
Registered
Settlement
Clearing
DVP
Clearing institution
Risk sharing
Margin/lending
Custodians
Tax exempted
Assessed for all investors as income
Tax exempted
37%
63%
Non-Jordanians
Jordanians
Minimum Listing Requirements
Requirements
Years of business activity
Capitalization of issue
Free float
Shareholders equity
Minimum # of shareholders
Minimum years of positive financial results
# times dividends distributed in last 3 years
Prospectus required
Special requirements
First
Market
2
Minimum: JD 2 million
10% turnover and 15% of the overall trading days
Not less than 100% of the paid-in-capital
n/a
2 years during the last 3 years
Once
Yes
Yes
Second
Market
1
n/a
n/a
Not less than 50% of the paid-in-capital
n/a
n/a
n/a
Yes
Yes