Yearbook 2018
Iraq Stock Exchange
Mr. Taha A. Abdulsalam
CEO of Iraq Stock Exchange
About Iraq Stock Exchange
Established: 2004
CEO: Mr. Taha A. Abdulsalam
Address: Al-Karadha Al-Sharqiya / Al-Alwiya District/
sec 903/ St 11, Baghdad, Iraq
Contact Person: Rana A. Abdullah
Email: i[email protected]
Website: www.isx-iq.net
Organization Overview
Iraq Stock Exchange (ISX) is a regulated market (SRO). ISX works according the standards of stock exchanges, established under the law No.74 in 2004, regulate and organize five trading sessions from Sunday to Thursday, implements and monitors the implementation of electronic trading rules and instructions.
- ISX uses NASDAQ OMX electronic systems and platforms for trading and depository.
- There are 104 listed companies including banks, insurances, telecoms, industrial companies, hotels, services, agricultural companies.
- 42 brokerage firms are working from Baghdad with 96 traders and two prances out of Baghdad linked with the market through VPN. The clearing is done by the depository and the settlement is done by an Iraqi bank.
- Clearing & settlement and transition of money from buyer to seller are done at the same day (T+0).
- Using the electronic trading instructions and rules, disclosure, surveillance and financial solvency.
- Using a specialized system: Back office, Shareholders system.
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Future of the market
1. Expand the range of products on the ISX. working to establish a local bond market.
2. Start custodian bank services.
3. Encourage local pension funds to start investing in ISX.
4. Work with the ISC to develop the rule and regulations.