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FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT APRIL 2011
PALESTINE EXCHANGE
Ahmad Aweidah
CEO
A major achievement in 2010 is the
transformation of the Palestine Securities
Exchange into a public shareholding
company.
For nearly 14 years, the Palestine Exchange
(PEX) has maintained its presence under
challenging political and economic conditions.
The PEX was able to position itself among
emerging markets as a robust exchange on
the international investment agenda.
A major achievement in 2010 is the
transformation of the Palestine Securities
Exchange into a public shareholding company
responding to the principles of transparency
and good governance. As a result, PEX
launched its new corporate identity; “Palestine
Exchange” is the new brand name and
“Palestine of Opportunities” is the slogan
which reflect the rewarding investment
opportunities in Palestine.
Three new companies were listed in 2010 and
a fourth one in early 2011, a total of 41
companies are now listed on the exchange
with a total market cap of 2.8 USD billon. In
spite of the local and global economic
challenges and the current political situation in
Palestine, most listed companies on the PEX
improved their performance and achieved
good profits in 2010 with 100% disclosure
compliance. This positive performance of most
listed companies contributed to the stability of
our Al-Quds index which closed at the end of
2010 with a slight decline of 0.69%, PEX
therefore maintained its middle position
amongst regional stock exchanges.
HISTORY AND DEVELOPMENT
1995: Established as a private shareholding
company to promote investment in Palestine.
1997: First trading session (18 February).
2005: The Al-Quds Index had increased by
306% compared to 2004, recording the highest
amongst the world Stock Exchanges.
2006: Launch of the Investor Education
Program.
2007: Launch of E-Trade Service.
2009: Ranked 33rd amongst International
Stock Exchanges and 2nd in the region in
terms of investor protection.
2010: Became a public shareholding
company. New corporate identity.
Only equities are traded on the PEX.
Accomplishments
• Four New Listings:
- The National Towers Company (ABRAJ), April
2010.
- Palestine Insurance (PICO), May 2010.
- Ramallah Resorts (RSR), May 2010.
- Wataniya Mobile (Wataniya), January 2011.
• Events
- Road Show to London, March 2010.
- Road Show to Abu Dhabi, May 2010.
- Fourth Annual Palestinian Capital Market
Forum entitled: “Investor Relations... An
Effective Practice to Mitigate Crisis”, November
2010.
• Publications
- Listed Companies Guide.
- The bimonthly Souq El-Mal Magazine (a
specialized magazine in capital markets).
- Monthly Investor Newsletter.
- Book on the proceedings of the Fourth
Annual Palestinian Capital Market Forum.
- PEX Annual Report.
• Investor Education
- Convened the third round of the Stock
Simulation competition in five national
universities with the participation of 140
students.
- Several training courses and seminars were
held to increase investor awareness about
issues relevant to capital markets.
- Schools and universities visits to PEX
premises to learn about PEX, its functions and
mandate.
• Other
- The PEX and the Palestine Capital Market
Authority (PCMA) adopted SMARTS
surveillance solutions.
- PEX applied annual and semi-annual
disclosures of Member Brokerage Companies.
- CDS Issued the investor number for investors.
- CDS Issued (ISIN) for listed companies on
PEX.
- Launched new version of PEX website and
Market Watch.
FUTURE OUTLOOK
• Quality listing of new companies and
targeting private shareholding companies
including family owned companies businesses
to turn public and list on the PEX.
• List PEX on frontier indices for MENA
region.
• Attract foreign investors & Palestinian
Diaspora.
• Continue to promote public awareness on
investment in securities.
• Seeking WFE full membership.
• Continue to improve the legal environment,
disclosure, transparency and listing and
trading regulations.
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