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FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2008IRAQ STOCK EXCHANGETaha Ahmed Abdul SalamCEOMarket index has closed at the last sessionin 2007 at 34,590 points. With the closing inthe last session of the month of June 2008,the current value is 38,145 points.The Iraq Stock Exchange (ISX) conductedelections. For a new board of governors inMay 2008. The ISX is very close to going livewith trading automation this year, and webelieve that we will start that process inNovember 2008.The ISX signed an agreement with theMubasher company to design a new web sitefor the ISX and Mubasher is hereby grantedthe exclusive world wide right by ISX todistribute the ISX market data and accordinglyenable its subscribers to have access to thedelayed and real-time market information viaInternet, satellites and other communicationnetworks. Mubasher shall disseminate thedata in Arabic and English in real time ordelayed basis through its online and offlinenetwork.The ISX statistics for 1H 2008:• Number of listed companies: 94• Number of companies traded: 81• Number of trading sessions: 72• Number of shares traded: 94,582 billionshares• Trading volume: US$ 175 million• The number of contracts executed: 16,498• No. of shares traded for non-Iraqis: 6,213billion shares.• Trading volume for non-Iraqis: US$ 8,743million• Market index has closed at the last sessionin 2007 at 34,590 points and closed at the lastsession of the month of January 2008 at34,020 points. With the closing in the lastsession of the month of June 2008, the currentvalue is 38,145 points.FUTURE OUTLOOKIn 2008, the ISX plans to:• Hold daily trading sessions in addition tocompleting all related auditing and clearancework. Publish timely information regardingtrading activity.• Continue to list more companies as theymeet listing requirements.• Participate in conferences and internationalsymposiums.• Initiate development and training programs incooperation with other exchanges, especially inthe Middle East.• Install and begin operating the automatedelectronic trading system. (We are planning todo that in December 2008.)• Assist in the eventual privatization of stateowned enterprises.• Join other regional and global stockexchange associations.• Support the adoption of the new SecuritiesLaw in cooperation with the ISC.• Hold meetings and symposiums with financialinvestment companies and investors.• Publish trading data and information aboutthe ISX in order to encourage investment inIraq.• Publish an Iraqi Company Guide which willpresent information and data to enableinvestors to evaluate company share prices.• Open regional branches that will beelectronically linked to the exchange inBaghdad. After going live with the automation.• Contract with a satellite channel to makeavailable trading session information to allinvestors.CONTACT INFORMATIONContact Name Mr. Jimmy Afham TomaE-mail jimmy-afham@yahoo.comWebsite www.isx-iq.netPAGE 52
FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2008IRAQ STOCK EXCHANGEOFFICIAL 6 MONTH STATISTICSUS$ millions# Shares millionsTotal Volume Average Daily Volume Total Volume Average Daily VolumeStocksJan-08 43.7742 3.6479 20,307.76 1,692.31Feb-08 13.4899 1.2264 10,121.19 920.1078Mar-08 18.2908 1.6628 12,842.35 1,167.49Apr-08 8.6018 0.6617 7,225.44 555.8033May-08 8.4274 0.7023 7,288.15 607.3461Jun-08 80.7317 6.2101 36,797.32 2,830.56TOTAL 173.32 2.35 94,582.21 1,295.60BondsJan-08 0.00 0.00 0.00 0.00Feb-08 0.00 0.00 0.00 0.00Mar-08 0.00 0.00 0.00 0.00Apr-08 0.00 0.00 0.00 0.00May-08 0.00 0.00 0.00 0.00Jun-08 0.00 0.00 0.00 0.00TOTAL 0.00 0.00 0.00 0.00OtherJan-08 0.00 0.00 0.00 0.00Feb-08 0.00 0.00 0.00 0.00Mar-08 0.00 0.00 0.00 0.00Apr-08 0.00 0.00 0.00 0.00May-08 0.00 0.00 0.00 0.00Jun-08 0.00 0.00 0.00 0.00TOTAL 0.00 0.00 0.00 0.00Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08Market Capitalization (US$ millions) 1,759.07 1,808.10 1,859.32 1,809.12 1,881.15 1,937.00Index 34.02 36.1 37.51 37.3 38.35 38.15PRACTICES & PROCEDURESTradingDaysHoursMarket segmentationSystemMechanismsMarket-maker/SpecialistsInstrumentsCurrencyReal time informationClearing & SettlementCentral DepositoryPeriodRegisteredSettlementClearingDVPClearing InstitutionRisk SharingMargin/LendingCustodiansSunday-Tuesday-Thursday10 am - 12 amData not availableData not availableData not availableData not availableStocksIraqi Denar (ID)Data not availableWork in progress, there is a request for proposalfinished November 2005.Data not availableData not availableData not availableData not availableData not availableData not availableData not availableData not availableData not availableTaxesCash DividendsInterest IncomeCapital GainsStructure & RegulationsLegalRegulationSecurities marketregulationsTrading rulesSurveillanceCorporate actionsTrading halts regulationsInvestor protectionForeign ParticipationForeign investorsInvestment limitationsRepatriationData not availableData not availableData not availableSpecial status within the LawSelfExchange, Regulation Authority(NGO), Non ProfitExchangeYesEquityYesYesNot YetData not availableNo RestrictionsPAGE 53
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