FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT JUNE 2013
DAMASCUS SECURITIES EXCHANGE
Damascus Securities Exchange has proved
its ability to face the Syrian crisis in 2013.
Mohammad Ghassan Qala’a
Chairman
Damascus Securities Exchange (DSE) has
proved its ability to face the Syrian crisis in
2013. The trading sessions didn’t stop during
this year and the listed companies continue
their working without any stop, their financial
results were good and made profits. The value
of Damascus weighted index (DWX) was 1,250
points, increased by 480 points compared
to the previous year 2012, with a percentage
change of +62%.
HISTORY AND DEVELOPMENT
DSE was established based upon Decree
number /55/ for the year 2006, has a legal identity
with financial and administrative autonomy.
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.
Damascus weighted index (DWX) has the first
rank between the Arabian Exchange Indexes
according to Arab Federation of Exchanges
Performance at the second quarter of 2013.
The traded value increased from 2.14 billion
Syrian pound S.P in 2012 compared to 2.24
billion S.P at 2013. The daily average value
of trading in 2013 increased to 15 million S.P
compared to 14 million S.P in 2012, through the
same number of trading sessions 148 sessions.
DSE has continued to develop its work, such as:
1. Developing many of market’s regulations
and instructions, e. g. The Internal Law for
Guarantee fund and DSE Membership.
2. Improving the mechanism of trading.
3. Improving the electronic surveillance system.
4. Developing and activating the contingency
plan for trading through reserved market
server.
DSE is managed by a Board of Directors
consisting of (9 members) and a Chief Executive
Officer Dr. Mamoun Hamdan who managing the
daily activities of the Exchange and raising his
reports to the Board. DSE was launched on 10th
of March 2009 with 6 listed companies divided
into 4 companies in the main market and 2 in the
growth market, with 4 brokerage firms. FUTURE OUTLOOK
At the end of 2013 the number of listed
companies was 22 companies divided into 12
companies in the main market, 8 in the growth
market - A, and 2 in the growth market - B, with 7
brokerage firms that were licensed to trade in the
Exchange. 1. Increasing the number of listed company.
2. Enhancing the efficiency and transparency
in DSE.
3. Extending the invested financial instruments
in DSE.
4. Extending researches and studies that aim
to develop DSE work.
DSE works progressively on its attempts to
get rid of the negative economic effects of the
Syrian crisis, through effective cooperating and
coordinating with every relevant authority, in
order to attract a good group of investments,
and to achieve the following prospect projects:
The number of traded shares in 2013 increased
to 18 million shares compared to 11 million
shares in 2012. The daily average of traded
shares also increased to 128 thousands shares
compared with 76 thousand shares in 2012.
The number of executed trades increased to
11,348 trades compared to 8,334 trades in
2012.
At the end of 2013, the market capitalization
of listed companies in DSE was 119 billion S.P
with an increase of 60.63% compared to 2012.
5. The expansion of publication and education
circle.
6. Consolidate the relations with Arabian and
International exchanges, and continuing the
cooperation with FEAS, Arab Federation of
Exchange and Arab Monetary Fund.
7. Developing the electronic systems and
equipments.
8. Developing the working human resources.
9. Continuing the achievement of the new
building for DSE in the eighth gate in
Damascus.
ECONOMIC AND POLITICAL
DEVELOPMENTS
We can not say that the Syrian economy was
good in 2012 due to change in global and
regional circumstances that took place in the
world during 2012, which affected Syria later,
and impacted on the economy significantly,
resulting in bloking and slowing of projects
which was scheduled to be completed localy
during the year.
CONTACT INFORMATION
Contact Name Osama Hasan
E-mail [email protected] Website www.dse.sy
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