ISX Launches New General Indicator

The Iraqi Stock Exchange (ISX) on Wednesday launched its new indicator after the number of appointed companies increased to 40.

“The IEX launched a new general indicator after the increase of the appointed companies to 40, including the seven sectors listed in the ISX,” the ISX said in a statement received by Aswat al-Iraq news agency.

“The former indicator consists of only 19 companies, which was selected in 2009 after the move from manual to electronic trading,” it added.

The Director of the Iraqi Stock Exchange, Taha Ahmed Abdulsalam, said last week that the ISX will launch a new general indicator after the increase of the appointed companies, and also start a new system for the shareholders by next June.

“Electronic trading had been applied by 5 companies by April 9, 2009. This number eventually rose to 30, out of which only 19 had been accounted as the best in performance according to the electronic trade,” he added.

“The Iraqi Stock Exchange registered 84 companies in the electronic trading, and it has become a necessity to increase the size of samples in accordance with the increase of the capital of the companies,” Abdulsalam said, pointing out that “the Board of Governors have decided to increase the number of companies within the index in order for the indicator to give the true value of the exchanged shares in the electronic trading for both general and sectoral categories.”

( Aswat Al Iraq )

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