FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT JUNE 2013
IRAQ STOCK EXCHANGE
-On 2011 ISX price index closed on (103, 11)
points at the end of 1st trading session, and
on (136, 03) points at the end of last trading
session.
On 2012 ISX price index closed on (138, 18)
points at the end of 1st trading session, and it
changed in so many directions, its minimum
value was (113, 99) points on 11/7/2012 trading
session and its maximum was (138, 18) on
3/1/2012 trading session.
ISX price index finished its actions on
25/12/2012 closed session 125.02 points.
The most important factors that affect ISX price
index value are:
A. Capital increases of listed companies were
(638.410) billion shares feature (638.410) billion
ID. which is the largest IPO volume since the
market opening in 2004.
B. Increases in capital through reserves and
profits capitalization were (267.523) billion
shares.
The total number of new shares which were
listed after the capital increases, reserves,
and profits capitalization were (905.033) billion
shares.
C. Activity of many investment portfolios to
develop distinguished investment portfolios and
to increase the volume of the existing portfolios.
D. Listed companies activity
E. Many listed companies achieved a high level
growth to their activities and to the profitability
indicators which reflected positively on shares
value.
F. Iraqi, Arab and International economic and
political developments effected indirectly on
Iraqi and non-Iraqis investors and shareholders
decisions.
ISX index centesimal record is based on
the fluctuation of shares prices for 48 listed
companies.
2. shares price limits:
1. Share price of new listed companies is open
and does not follow any limit in the 1st trading
session only.
2. Up and down fluctuation of share prices must
not exceed 10% of the last closing price.
3. After capital increase, shares are returned
back to trading in ISX the entry price (EP) will
be fixed according to previous capital (CAP*),
previous close price (CP), nominate price (NP)
and the new capital (CAP1) and cash dividend
(CD) to determine the limit of prices for the first
trading session.
EP=(CAP*CP + CAP*NP/ CAP1) - CD
Iraq Stock Plans 2013
1. Trading sessions: Organize (232) trading
sessions in average of five sessions weekly,
and supervised and accurate trading dealings
according to the insiders rules and electronic
trading instructions, and disclosure about
transactions according to the effected ratios,
special orders, financial solvency instructions
and any other global instructions approved by
ISC and ISX BOG.
2. Reports and Publications: Issuing (232)
end-of-session daily reports, weekly trading
report, (12) monthly reports, Annual report and
companies guide on ISX Website www.isx-iq.
net in addition to publishing listed companies
financial statements.
3. Media and News agencies: Publishes daily,
weekly, and monthly reports through Iraqi/ Arab
news agencies continuously. Daily publishes of
tickers on ISX and MUBASHER official websites
during trading sessions which started on
December, 2011. In addition to -End-of-session
prices published by Bloomberg and Thomson
Routers starting from January, 2012.
4. Electronic Systems: Electronic systems
development under the supervision of NASDAQ
OMX through X-Stream and in accordance with
its advanced properties approved by ISX BOG.
5. Trade Monitoring: Monitoring, surveillance
of trading limitations using Cap Formula T+0.
Which is supposed to be changed to new
clearing and settlement Cap Formula T+2
instead of current formula T+0 after the ISC
approval of the Custodian Banks regulations,
despite the issuance of ISC approval we have
not received any request to develop this service.
6. Inspection and Surveillance: Inspection
plans for all brokerage firms to check files and
documents integrity.
7. Brokerage firms Subsidiaries: Electronic
trading between ISX and AL-Rabee firm
subsidiaries in Erbil and Sulaymaniya has been
on a daily basis. To encourage and attract
Key Information Contacts
Iraq Association of Securities Dealers www.iasd-iq.org
Iraq Central Bank www.cbiraq.org
PAGE 48
investment in ISX and in order to make the
company’s public relations office in Istanbul
/ Turkey a regional office of the firm after
obtaining ISC approval, this office is going
to work electronically in accordance with the
registration decision issued by Turkey.
8. Listing Companies: Encouraging the non-
listed companies to be listed.
9. Disseminating Awareness of Investment:
Holding workshops to educate and encourage
investment in ISX.
10. Conferences: Represent ISX in relevant
conferences locally and globally.
11. Erbil Stock Exchange: To start the electronic
connectivity in accordance with the agreement
that have been updated on 17/12/2012, ISX
prepared a detailed plan for the purpose of
training ESX employees and brokers technically
and administratively.
12. ISX Will organize electronic trading through:
A. Regular Market: as currently being on
listed companies shares, according to Listing
instructions No. (6) for 2010.
B. 2nd Market (Non-Regular Market): Also
known as parallel market, will include listed
companies whom non-compliant with
instructions No. (6) for 2010.
These companies are are: AL-Hamraa for
Insurance. AL-Khair for Financial Investment. AL-
Ayaam for Financial Investment. AL-Ameen for
Financial Investment. Bain Alnahrin Investment.
AL-Batek Investment. AL-Khaima for Financial
Investment. AL-Ameen Estate Investment.
Modern Chemical Industries. Kirkuk for
Producing. AL-Ahlyia for Agricultural.
All these companies will be transferred from
regular market to 2nd market because of the
decline in (number of tickets annually executed,
trading volume, and number of trading days
based on instructions No. (15) for 2011.
Brokerage firms
Currently there are a total of 46 licenses brokers
who are active on the ISX. Brokers are licensed
and regulated by the ISC.