FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT APRIL 2011
DAMASCUS SECURITIES EXCHANGE
The market capitalization of the listed
companies in the DWX at the end of 2010
was US$ 3.21 billion with an increase of
142% from 2009.
Rateb Shallah
Chairman
At the end of 2010 the Damascus Securities
Exchange (DSE) had 19 listed companies,
whereas, the number of listed companies at
the end of 2009 was 12. The index increased
by 71.9% in 2010 since 2009 reaching
1,719.04 points.
The traded value increased from US$36
million (S.P 1,663 million) in 2009 compared to
US$ 197 million (S.P 9,064 million) in 2010, an
increase of 445%. Moreover, the daily average
value of trading in 2010 increased to US$ 1.15
HISTORY AND DEVELOPMENT
Damascus Securities Exchange (DSE) was
established based upon Decree number /55/
for the year 2006, issued by the Syrian
President Dr. Bashar Al Assad, the Exchange
activities are based upon the provisions of this
law and based upon the law of the Syrian
Commission on Financial Market and
Securities number /22/ for the year 2005.
DSE is managed by a Board of Directors
consisting of 9 members and a Chief Executive
Officer who manages the daily activities of the
Exchange and raises his reports to the Board.
DSE was launched on the 10th of March 2009
with 6 listed companies they were divided into
4 companies in the main market and 2 in the
growth market, with 4 brokerage firms that are
licensed to trade in the Exchange.
DSE aims to provide a suitable environment to
facilitate investment, and to provide sufficient
capital expand the economic activity through
creating, fair, clear and stable trade of
securities.
million (S.P 53 million) compared to US$ 0.39
million (S.P 17.88 million) in 2009. In 2010
there were 171 trading days compared to 93
days in the previous year.
The number of traded shares in 2010
increased to 6.89 million shares compared to
1.70 million shares traded over the previous
year 2009, an increase of 304%. Moreover, the
daily average of traded shares also increased
to 40.26 thousand shares compared with18.32
thousand shares in 2009.
• The launching of the Exchange consisted on
setting rules, regulations, and instructions
regarding the work process of the Exchange.
• Finding a suitable building and preparing it
with the suitable equipments, considering the
Exchange environment.
• Verifying "BTS" as a trading system, verifying
"CSD" as a Clearing and Depository System.
These systems were bought according to a
contract with Market Evolution Company.
• Setting the Exchange website and the
information data center of the Exchange.
• Enhancing Investors Awareness through
flyers that were made by the Exchange. The
Exchange also participated in conferences,
giving introducing lectures indoors and
outdoors In addition the Exchange took part in
awareness activities through televisions, radios
and training students from different universities
and institutions.
• In the field of foreign relationships and
foreign cooperation, the exchange Signed a
number of " Memorandum of Understanding"
with the Egyptian Stock Exchange, Tehran
Stock Exchange, Istanbul Stock Exchange,
Syprus Stock Exchange and Abu Dhabi Stock
Exchange, Being a member at the Federation
of Arab Stock Exchanges, Association of
National Numbering Agency (ANNA), and
Federation Of Euro Asian Stock Exchanges
(FEAS).
The number of executed trades icreased to
36,682 trades compared to 6,798 trades in
2009, an increase of 440%.
The market capitalization of the listed
companies in the DWX at the end of 2010 was
US$ 3.21 billion (S.P 147.87 billion) with an
increase of 142% from 2009.
FUTURE OUTLOOK
• The Exchange is improving its strategies in
the awareness through diversifying and
publishing information and by taking part in
conferences, lectures, exhibitions that aims to
give an introduction regarding the Exchange.
• modifying in the rules and regulations issued
by the Exchange according to the local and
regional economic changes, suggesting the
necessary rules and regulations where suitable
and give opinions to the concerned legislative
bodies to improve the work process in the
exchange, to reach integrated legislative
system indoors and outdoors of the exchange
and to ensure high efficiency in the work
process of the exchange.
• The exchange continuously improves the
necessary electronic system which is required
for the work process at the Exchange, which
there by provides qualitative services regarding
the publication of all the information and
simplify the work process in the Exchange for
all the investors, brokerage firms, and listed
companies in the Exchange. The Exchange is
working on setting up an alternative information
database so that it would preserve its
information and a link would be established
between the current temporary building and
the permanent building.
• Increasing the number of sessions to 5
sessions per week, 5 days a week.
• Co-operating with reginal and national
Exchanges and Organizations that relate to
securities Exchanges.
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