Year in review
On October 5th Palestine Exchange launched activities of the World Investor Week (WIW) 2020 under the slogan “We Invest in Knowledge” by “ringing the bell for financial literacy” ceremony, which comes this year as part of an open day for PEX’s employees children.
The children’s “open day” contained various activities including “ringing the bell for financial literacy”, get the children to their parent’s job at the exchange and many other recreational activities organized in accordance with public safety measures while maintaining social distancing.
Palestine Exchange and the Journalists Association sign a memorandum of understanding to enhance mutual cooperation.
The memorandum aims to enhance public
awareness of investor rights and to develop the capabilities of economic journalists by taking advantage of the training programs launched by the exchange. It also includes partnership between the two parties in future public awareness campaigns.
Yearbook 2020
Palestine Exchange
About Palestine Exchange
Established: 1995
Chairman of the Board of Directors: Mr. Maher Masri
Chief Executive Officer: Mr. Ahmad Aweidah
Address: Trust Co. Build-Amman Street-Nablus
P.O. Box 128, Nablus-Palestine
Contact Name: Mr. Mohammad Khraim
Email: [email protected]
Website: www.pex.ps
81
Sanctions for Regulation Violation
The sanctions list of PEX is applied on both the Brokerage firms and the listed companies in case of violation of any of the following Regulations:
• Listing regulations
• Disclosure regulations
• Trading regulations
• Membership regulations
The sanctions' list treats the violation gradually through five levels according to the severity of the sanction, and it varies between warnings, imposing fines (it could be a percentage with a specified Min./Max. limits, or a predefined fixed amount), suspending companies or individuals related to it from implementing certain activities related to PEX, or it could reach the level of canceling licenses for brokerage firms or delisting for listed companies.
Sanctions' list is approved by both the board of directors of PEX and the Palestinian Capital Market Authority since 2006, also it was amended and approved in 2014.
Settlement of Trades
- The cash settlement is processed through the BURAQ at PMA since 01/03/2013, the procedure requires that each Broker (Participant) has to nominate a Settlement Bank and maintain a cash accounts with this bank, he should fund his account at his S. B. before 9.30am on T+2 (Settlement Day), and the S. B. processes cash settlement on behalf of his broker through BURAQ at PMA at no later than 09:30am on T+2, All eight brokers already nominated six S. Bs., who in their turn will settle the obligations of those brokers on T+2 through the PMA in accordance with the settlement file uploaded by the CDS at BURAQ on T+0.
- However in BURAQ, there is an intermediate cash settlement account whose balance should be zero before and after processing the cash settlement, the settlement banks’ cash accounts are to be debited against the intermediate settlement account and credited by this account in accordance with the settlement file uploaded by the CDS.
- On T+2 at 9.30am at the latest, cash settlement occurs between the settlement account and the appointed settlement banks' accounts with the PMA.
- The CDS gets an automatic notification and a detailed report from BURAQ once the settlement is processed on T+2. Taking into consideration that the CDS follows detailed written procedures that manage all settlement related issues between the CDS and PMA, brokers and S. Bs.
- The (CDS) implements a near-simultaneous DVP settlement as the CDS settles securities immediately after receipt of cash settlement confirmation from BURAQ system at 9.30am SD at the latest.
Once cash settlement confirmation is received, a CSD staff clicks a button to trigger the settlement of securities, which automatically update the ownership immediately.
About Company
Established: 1995
Chairman of the Board of Directors: Mr. Maher Masri
Chief Executive Officer: Mr. Ahmad Aweidah
Address: Nablus /Rafidya-Asal building -7th Floor
Working hours: 08:00 -15:30
Contact Name: Zakia Naser Hanani
Email: [email protected]
Website: www.pex.ps
- Joined FEAS in 2000-
Ahmad Aweidah
Chief Executive Officer
"On the financial front, Al-Quds Index fell 10.40 percent over the year with trading volume falling off more than 30 percent. At year end, the Exchange’s listed company market capitalization fell 8.27 percent to $3.44 billion. Despite trading declines, the Palestine Exchange reduced expenses about 9.3 percent and achieved net after-tax 2020 profits of $283.996. The share of profits reached some $0.028. The Exchange worked closely to toward the launch of its new electronic trading environment.
And new listed companys.
"
FEAS Talks with Mr Aweidah