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FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT JUNE 2010MUSCAT SECURITIES MARKETAhmed Saleh Al-MarhoonDirector GeneralWe believe that exchanges that adhere togood governance, greater transparency andgreater accountability, are able to fosterinvestors’ confidence as well as creatingattractive investment environment.We are continuously working on developingand operating an efficient and transparentsecurities market to the best standardexpected by our local and foreign investors.We believe that exchanges that adhere togood governance, greater transparency andgreater accountability, are able to fosterinvestors` confidence as well as creatingattractive investment environment.We at Muscat Securities Market (MSM),however, have devised a comprehensive roadmap that enables us to build capacity andpromote sustainable capital marketdevelopment strategy specifically aimed atimproving access to the regional andinternational capital markets.In view of the above MSM recently revised itslegislation with respect to listing, trading andclearance and settlement regulations to enableMSM to cater for what our market demands.We are endeavoring to strengthen ourexperience for a more scientifically built stockmarket.HISTORY AND DEVELOPMENTThe Muscat Securities Market passed throughtwo stages; the first started when the exchangefirst established as independent governmentalentity in 1988 up to 1998.In the beginning of this first stage there were48 public shareholding companies listed andsix brokers; the market cap was around R.O.414.7 millions (One Rial=2.59781 US$).However, the government encouraged theestablishment of new public companiesthrough various incentives especially in theindustrial sector. This resulted in rapid growthin the exchange in terms of the number ofstocks listed reaching the peak at the end of1996 with 97 listed companies. Thus themarket cap scored R.O. 1.62 billion during thisperiod.The second stage from 1998 till today duringwhich the MSM has been re-restructured uponthe establishment of three independent organsthe Capital Market Authority (Regulatory) theMSM for listing and trading and the MuscatDepository Company as a central depository.Many reformatory measures have been made,administratively, technically and legislatively. Ineffect the market continued movingprogressively.The MSM 30 Index posted the bestperformance amongst Arab Capital Marketsduring the last two successive years 2006 and2007. It closed higher by 62% to register9035.48 points. It was the only Gulf index,which did not retract during 2006.During the last view years the MSM crossedthe regional boarders to enhance moreprofessionalism in securities industry when itsigned an agreement for the issuance ofcomposite indices with Dow Jonesinternational. The agreement stipulates for theissuance of two indices the first, DJ MSMComposite Index, relates to measuring theperformance of listed companies, while theother, DJ MSM Chip Index, relates to the mostactive companies.At the regional level the Muscat SecuritiesMarket is a member of the Arab Union ofExchanges and participated in severalmeetings of the Arab, regional conferences,and forums.At the international level the MSM is aneffective member at the Federation of Euro -Asian Stock Exchanges. Our Exchange is nowchairing the Task Force Committee forInformation and Awareness at <strong>FEAS</strong> and ithosted the <strong>FEAS</strong> general Assembly on the year2006.The MSM is a correspondent member at theIOSCO and an affiliate member at the WFEand there is an ongoing process for obtainingfull membership in this latter internationalorganization.FUTURE OUTLOOKDevelopment of procedures and rulesgoverning the activity of market makers.Updating the MSM regulations andorganizational structure.Working to satisfy the requirements of theWorld Federation of Exchanges for obtainingfull membership.The MSM is currently working to be certified onthe following fields:-• ISO 9001 - Quality Management• ISO 27001 - Information Security• BCM 25999 - Business Continuity PlanInstalling new screens in the investors tradinghall and a tape ticker for displaying sharesprices outside the building.Continue working with Muscat Depository forthe installation of new systems for the CentralDepository.Implementing procedures for updating theelectronic trading system and its accessories.Providing Technical Training to manage Linuxsystem, which is used in the operation of newissues of the electronic trading system.Developing the Market Internet Website.Providing instantaneous news broadcastingservice for companies using RSS.Linking brokerage companies with the MPLSnetwork of Omantel.Maintaining all the annual reports of the marketsince inception and until 2009 in (PDF) files forinjecting them at MSM website.Creating a database for Gulf, Arabic, Asian andEuropean exchanges with the reports andconducting comparisons between the stockexchange.Translating the necessary regulations andorganizational structure of the market.In 2009 were assigned the design work and theestablishment of the site for a host of e-commerce is expected to be completed in2010, and will be marketing the site throughvarious marketing channels.PAGE 128
FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT JUNE 2010MUSCAT SECURITIES MARKETOFFICIAL 6 MONTH STATISTICSUS$ millions# Shares millionsTotal Volume Average Daily Volume Total Volume Average Daily VolumeStocksJul-09 453.64 21.60 426.35 20.30Aug-09 557.90 25.36 562.21 25.56Sep-09 631.11 37.12 697.68 41.04Oct-09 78.12 3.72 57.59 2.74Nov-09 263.67 13.18 246.57 12.33Dec-09 286.55 15.08 334.94 17.63TOTAL 2,270.99 19.35 2,325.33 19.93BondsJul-09 1.87 0.00 0.73 0.00Aug-09 0.49 0.00 1.29 0.00Sep-09 2.49 0.00 0.98 0.00Oct-09 19.12 0.00 1.31 0.00Nov-09 7.86 0.39 2.96 0.15Dec-09 5.58 0.29 2.37 0.12TOTAL 37.41 0.11 9.63 0.05OtherJul-09 0.00 0.00 0.00 0.00Aug-09 0.00 0.00 0.00 0.00Sep-09 0.00 0.00 0.00 0.00Oct-09 0.00 0.00 0.00 0.00Nov-09 0.00 0.00 0.00 0.00Dec-09 0.00 0.00 0.00 0.00TOTAL 0.00 0.00 0.00 0.00MarketCapitalization(US$ millions)IndexMONTHLY STOCK VOLUME VS INDEX(US$ millions)StocksIndexMONTHLY MARKET CAPITALIZATION(US$ millions)Jul-09 22,509.83 5,846.22Aug-09 23,424.80 6,345.06Sep-09 24,053.37 6,572.25Oct-09 23,705.52 6,354.92Nov-09 23,580.77 6,357.23Dec-09 23,615.96 6,368.80CONTACT INFORMATION70060050040030020010007,000 25,0006,00020,0005,0004,00015,0003,000 10,0002,0001,0005,00000Jul Aug Sep Oct Nov Dec Jul Aug Sep Oct Nov DecContact Name Mr. Al Taib Shaigoog E-mail altyeb@msm.gov.om Website www.msm.gov.omPAGE 129
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