JUNE 2013 - FEAS

FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT JUNE 2013DAMASCUS SECURITIES EXCHANGEThe market capitalization of the listedcompanies in the DWX at the end of 2012was US$ 952 million.Mohammad Ghassan Qala’aChairmanThe year 2012 witnessed many events thathad impacts on DSE, Desbite that DSE triedto reduce the impact of these events that thecountry is going through it. So at the end of theof 2012 DSE witnessed an apparent recoveryon significant amount of listed stocks.The wighted price index of DamascusSecurities Exchange (DWX) at th end 2012which reached (769.60 point) marking adecrease by (99.91 points) than the previousDecember 2011 with a percentage change of(-11.49%).The traded value decreased from (140million US$) (7.8 billion syrian pound) in 2011compared to (27.6 million US$) (2. 14billionsyrian pound) in 2012. The daily average valueof trading in 2012 decreased to (186 thousandUS$) (14.48 million Syrian pound) comparedto (0.7 million US$) (39 million Syrian pound)in 2011. In 2012 there were (148 trading days)compared to (202 trading days) in the previousyear.The number of traded shares in 2012decreased to (11.20 million shares) compared(17.79 million shares) traded over the previousyear 2011. The daily average of traded sharesalso decreased to (75.7 thousand shares)compared with (88.1 thousand shares) in 2011.The number of executed trades decresed to(8,334 trades) compared to (41,132 trades) in2011.The market capitalization of the listedcompanies in the DWX at the end of 2012 was(952 million US$) (74.04 billion syrian pound)with an decrease of 35.63%.HISTORY AND DEVELOPMENTDuring 2012 a new Board of Directors has beenformed, where Mr. Mohammad Ghassan Qala’abecame the chairman.Damascus Securities Exchange (DSE) wasestablished based upon Decree number /55/ forthe year 2006, issued by the Syrian PresidentDr. Bashar Al Assad, the Exchange activitiesare based upon the provisions of this law andbased upon the law of the Syrian Commissionon Financial Market and Securities number /22/for the year 2005.DSE is managed by a Board of Directorsconsisting of (9 members) and a Chief ExecutiveOfficer Dr. Mamon Hamdan who manages thedaily activities of the Exchange and raises hisreports to the Board. DSE was launched on the10th of March 2009 with (6 listed companies)they were divided into 4 companies in the mainmarket and 2 in the growth market, with (4brokerage firms) that are licensed to trade in theExchange.At the end of 2012 the number of listedcompanies reached 22 companies, they aredivided in to 9 companies in the main market,12 in the growth market - A, and 1 in the growthmarket - B, with (8 brokerage firms) that arelicensed to trade in the Exchange.FUTURE OUTLOOKAs always DSE seeks for improve its strategiesin the awareness through diversifying andpublishing information and by taking part inconference, lecture, exhibitions that aims to givean introduction regarding the exchange. And itwill foucus on:• Develop some new indices.• Continuing to upgrad the technicalinfrastructure• Develop internal processes.• Work on developing it’s human resources;DSE will continue to attract more listedcompanies, and will also seek more cooperationwith stock exchanges worldwide, with the aimof exchanging information and expertise. Inaddition, DSE will pursue strategic partnershipsin many different areas that we hope to addvalue to all parties involved.ECONOMIC AND POLITICALDEVELOPMENTSWe can not say that the Syrian economy wasgood in 2012 due to change in global andregional circumstances that took place in theworld during 2012, which affected Syria later,and impacted on the economy significantly,resulting in bloking and slowing of projectswhich was scheduled to be completed localyduring the year.CONTACT INFORMATIONContact Name Lubana Abdo E-mail labdo@dse.sy Website www.dse.syPAGE 39