FEAS Yearbook FEAS Yearbook 2002 | Page 71

FEDERATION OF EURO-ASIAN STOCK EXCHANGES > YEARBOOK 2002/2003 > PAGE 69
PALESTINE SECURITIES EXCHANGE
Trading
Days
Hours: Pre-opening
Regular market
Market segmentation
System
Mechanisms
Market maker/specialists
Instruments
Currency
Real time information
Clearing & Settlement
Monday-Wednesday
9:30-10:00
10:00-11:00
Regular market, odd lot market, sell-out market,
off floor transactions
Fully automated, depository link, remote access,
data dissemination, WAN
Order-driven continuous auction
No
Stocks
JOD and US$
Best bid/ask, last price, last volume, total volume.
Structure & Regulations
Legal
Regulation
Securities market regulations
Trading rules
Surveillance
Corporate actions
Trading halts regulations
Investor protection
Yes
T+3
Yes
Book entry
Netting
Yes
Yes, wholly owned
No
No/Yes
Bank
Foreign Participation
Private company
Self
Exchange with Finance Ministry approval
Exchange
Yes
Centralized (except cash dividends)
No
Yes
Foreign investors
Investment limitations
Repatriation
Allowed
No limitation
No restrictions
Volume by Sector
Taxes
Cash dividends
Interest income
Capital gains
Central depository
Period
Registered
Settlement
Clearing
DVP
Clearing institution
Risk sharing
Margin/lending
Custodians
Exempted
n/a
Exempted
0.3%
3.1%
15.3%
1.3%
80%
Services
Investment
Manufacturing
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
n/a
US$ 750,000
25%
50%
100
n/a
n/a
Yes
n/a
Insurance
Banking