MarketIraq Stock Exchange
Company Profile

Iraq Stock Exchange

The Iraq Stock Exchange (ISX), formerly the Baghdad Stock Exchange, is an Iraqi stock exchange located in Baghdad, Iraq. It was established by the Coalition Provisional Authority (CPA) Order No. 74 as a sui generis independent non-profit organization on April 18, 2004. This order also created the Iraq Securities Commission and an Iraq Depositary. The stock exchange was part of the development of the country from a non-transparent centrally planned economy to a free market economy through a dynamic private sector.

Background
Before the 2003 invasion of Iraq, the country's stock exchange was called the Baghdad Stock Exchange and was operated by the Iraqi Ministry of Finance. Now it is a self-regulated organization similar to the New York Stock Exchange, owned by the 50 or so member brokerages. Aswat al-Iraq news agency covers every trading session with reports published on the web in English and Arabic. ==Growth==
Growth
Originally, trading was with pen and paper. Buyers shouted at or called into their brokers, who stood near their whiteboards that listed each company's share buy and sell price. Trading was suspended for several months in 2006 due to violence, and is subject to power outages. In 2006, 92 trading sessions were held (an average of 2 per week), 57 billion shares were traded (at a value of 146 billion dinars), and 38,000 trades were consummated. The trading floor is currently open six hours a week: Sunday, Tuesday, and Thursday from 10:00 a.m. to 12:00 noon. The ISX opened to foreign investors on August 2, 2007. It was unaffected by the 2008 financial crisis. On April 19, 2009, the ISX switched to electronic trading. Currently, only five companies are available for electronic trading, but more will be added over the next few months. In the first quarter of 2018, the ISX became one of the world's top performers due to the influx of investors encouraged by the defeat of the Islamic state. Companies listed on the market increased by 10 percent, anticipating economic recovery due to recent developments. This is particularly notable since the performance defied the violent swings experienced by global markets in the same period. The Iraq stock Exchange is a member of the Federation of Euro-Asian Stock Exchanges. ==See also==
tickerdossier.comtickerdossier.substack.com