Iraqi Stock Exchange announces circulation of more than 41 billion dinars during the last month

[yota691]

Iraqi Stock Exchange announces circulation of more than 41 billion dinars during the last month

18/02/2012 | (Voice of Iraq) - Add Comment - Sumerian News / Baghdad said the Iraqi market for securities, Saturday, from trading in more than 24 billion shares traded amounted to more than 41 billion dinars during the month of January and an average of five sessions per week . and trading of the market during the month of January 24 billion and 473 million shares trading value reached 41 billion and 186 million dinars, the equivalent of $ 34 million a session low by 32.4 percent from last December, while the number of companies traded 59 companies out of 87 listed companies electronically on the market. and record stock market index in the first its opening for the month of January 138.18 points, up 1.58 percent from the last session of his last December and was up by 12 percent from the last meeting it for the month of January. amounted to contracts traded, investors in the market 11 thousand and 255 contract at a rate of 563 was held up by 9.6 percent from the total of contracts for the month of December, values ​​were the number of sessions the market for the month of January 20 meeting and an average of five sessions per week. It is noteworthy that the Iraqi market for securities was established in June 2004, and was accredited by the manual trading, and in April 2009, adopted electronic trading in part by some companies, and is now trading electronically to companies registered in 2010, and traded in the market, 85 companies belonging to the seven sectors are banking, industrial, hotel, tourism, agricultural, investment, insurance and services.

Read more: http://www.sotaliraq.com/business.php?id=5828#ixzz1mm1bfpNS

[J769]

This is one of the reasons the ISX is a questionable investment. 34 million dollars worth of trades in one month.

Now pick a stock in the US market, just one stock, and see how much they trade. I picked HL, a relatively small scale mining company. Their average volume is about 7.2 million shares per day, and the stock is worth about 5 bucks a share right now. That's 36 million a day. So one small company in the US is traded more in ONE DAY than the entire ISX trades in an entire month. This one small company will trade more in two weeks than the ISX will trade for the ENTIRE YEAR.

That is the very definition of illiquidity. Easy to buy, tough to sell. And I've seen people that have tried to sell on the ISX confirm this, people that have been trying to sell out for months and months and still haven't managed to do so. They've made gains on paper, but until they can manage to sell, that's where those gains will remain, only on paper.

[Joker017]

This is one of the reasons the ISX is a questionable investment. 34 million dollars worth of trades in one month.

Now pick a stock in the US market, just one stock, and see how much they trade. I picked HL, a relatively small scale mining company. Their average volume is about 7.2 million shares per day, and the stock is worth about 5 bucks a share right now. That's 36 million a day. So one small company in the US is traded more in ONE DAY than the entire ISX trades in an entire month. This one small company will trade more in two weeks than the ISX will trade for the ENTIRE YEAR.

That is the very definition of illiquidity. Easy to buy, tough to sell. And I've seen people that have tried to sell on the ISX confirm this, people that have been trying to sell out for months and months and still haven't managed to do so. They've made gains on paper, but until they can manage to sell, that's where those gains will remain, only on paper.

J769, I for one appreciate you pointing this out. I don't know much about buying and selling stocks and plan to educate myself post RV. Thanks again!

[20MillionDinar]

This is one of the reasons the ISX is a questionable investment. 34 million dollars worth of trades in one month.

Now pick a stock in the US market, just one stock, and see how much they trade. I picked HL, a relatively small scale mining company. Their average volume is about 7.2 million shares per day, and the stock is worth about 5 bucks a share right now. That's 36 million a day. So one small company in the US is traded more in ONE DAY than the entire ISX trades in an entire month. This one small company will trade more in two weeks than the ISX will trade for the ENTIRE YEAR.

That is the very definition of illiquidity. Easy to buy, tough to sell. And I've seen people that have tried to sell on the ISX confirm this, people that have been trying to sell out for months and months and still haven't managed to do so. They've made gains on paper, but until they can manage to sell, that's where those gains will remain, only on paper.

This is very true!

[pluMmet]

This is one of the reasons the ISX is a questionable investment. 34 million dollars worth of trades in one month.

... I've seen people that have tried to sell on the ISX confirm this, people that have been trying to sell out for months and months and still haven't managed to do so. They've made gains on paper, but until they can manage to sell, that's where those gains will remain, only on paper.

I have never seen so much of the world in agreement on an issue as Iraq... The forgiving of debt by so many and the pouring of resources into Iraq infrastructure is happening by all major parties..

Inspiring for sure. I have lots of anticipation of the faltering world economy but in Iraq my confidence is high due to it being high for the collective world. Even if it's "The delusion we all share" it does not matter as the world is in harmony on this idea and isn't that the true idea behind Babylon?

peace.

[TrinityeXchange]

This is one of the reasons the ISX is a questionable investment. 34 million dollars worth of trades in one month.

i am confused not at the isx but at the basis of who ever told you that the isx was highly liquid??? of all the research i've done before jumping into the isx brought me to the understanding that this market was an infant. i never had the notion that the isx was fully developed and operating on all cylinders.....did you? please help me understand how what you are saying is a new revealing fact? the reason why this risky investment might be a huge opportunity toward wealth is because we are able to get in BEFORE it becomes the exchange of choice for heavy investors. if the poor man waits for the rich man to approve an investment, it is already too late for the poor man. the poor man has to steal the opportunity before the rich man stakes his claim. the poor has to take higher risk to see high reward because gaining 10% on my $15K is meaningless to the wealthy gaining 10% on their $20M.

knock the isx if you want but a brother like me is all in!

[moneysoon]

Trinty +1 and i'm in it to win it too! To much is given, much is required.

[Sowhat]

This is one of the reasons the ISX is a questionable investment. 34 million dollars worth of trades in one month.

Now pick a stock in the US market, just one stock, and see how much they trade. I picked HL, a relatively small scale mining company. Their average volume is about 7.2 million shares per day, and the stock is worth about 5 bucks a share right now. That's 36 million a day. So one small company in the US is traded more in ONE DAY than the entire ISX trades in an entire month. This one small company will trade more in two weeks than the ISX will trade for the ENTIRE YEAR.

That is the very definition of illiquidity. Easy to buy, tough to sell. And I've seen people that have tried to sell on the ISX confirm this, people that have been trying to sell out for months and months and still haven't managed to do so. They've made gains on paper, but until they can manage to sell, that's where those gains will remain, only on paper.

Also, a small Iraqi company may have hundreds of billions of shares and people think a 1-1 rv would make this company worth hundreds of billions of dinars equivalent to hundreds of billions of dollars making every company in Iraq more valuable than say Apple.

[matthew6:19-21]

I will say this, if someone can explain that is fine, I to am trading on the ISX but I do not fully understand how the rv will effect the stock exchange. If you care to explain please use a 1:1 example for ease of understanding. Thanks I do back up TRINITYS thoughts though. We are basically buying penny stocks with the hopes of them becoming dollar stocks if you know what I mean.

[TrinityeXchange]

We are basically buying penny stocks with the hopes of them becoming dollar stocks if you know what I mean.

...and we aren't the only ones hoping my friend. as a matter of fact WE do not even rank as a small minority. the isx has received millions from foreign investors and i do believe that those millions did not add up on account of the little man pitching a few pennies. we have jumped into a very tiny market with huge upside potential. the sooner we place our capital the higher it will rise as more and more investors enter the market hence pushing our money skywards. its is very simple actually. i have pasted information from this link it hopes that it continues to encourage the few of us investing on the isx to hold fast what we have:

According to a report from Reuters, with better regulation and the expected listing of the country’s three main mobile phone firms, foreign investors are increasingly choosing Iraq’s stock market as a lucrative investment.

Iraq’s bourse is still tiny in comparison with other regional or international stock markets, but a drop in violence since the peak of sectarian fighting in 2006-2007 and the scope for quick growth is lifting interest....Foreign trading was almost non-existent a few years ago.

Russian-based 55 North Company is a bold example of foreign appetite in the ISX.

The firm plans to establish an investment fund worth $25 million, its managing director Paul Collison said, the maximum it can invest right now due to the low level of liquidity in Iraq’s stock market.

“It is important to start early on… it is a fantastic opportunity for a small fund to get established,” he said.

Panu Saukkonen, a senior partner at Finnish Virtus Capital Oy Company which started investing in the Iraqi bourse three years ago, said Iraq was a great choice to invest in as there is no serious competition and market values are still low.

The three mobile phone operators, Asiacell, Korek Telecom, and Zain Iraq, are required by the terms to their licences to list shares on the local bourse, and this could see the ISX’s current market capitalisation of $4 billion double, Abdulsalam told Reuters last week. .

Oliver Emanuel, executive director of Middle East and North Africa sales and trading at Morgan Stanley, said the initial public offerings by Iraq’s mobile phone firms would give a great boost to the local market.

“The upcoming telecom IPOs will no doubt act as a catalyst for the Iraq stock market precipitating greater focus by international and regional investors, helping improve liquidity,” Emanuel said.

Investors said the implementation of some regulations such as custodian bank services and share trading settlement could further open the market for more foreign capital.

A share trading settlement would allow non-Iraqi investors up to two days to arrange their payment after making a trade, compared with currently having to pay before conducting a trade.

Saukkonen said having a custodian bank could boost its investment by at least 10 times within three years.

The head of the Iraqi Securities Commission (ISC), Abdulrazaq al-Saadi, said custodian regulation would be issued in November.

The ISX moved from manual to automated trading in 2009 and is open for trading for two hours a day, five days a week. Each trade takes around 8 seconds to process.

The banking sector is the largest on the bourse, which also lists industrial, insurance, hotel and agriculture firms.

Collison said he expected the ISX to grow quickly once an international bank takes on the custodian role but said the market would need to be closely monitored.

“The risk is you get a very quick bubble and it will lose 50 percent and that is exactly what happened in places like Russia,” said Collison.

[rico]

I got in the ISX through Warka KNOWING that it is a huge risk....with POSSIBLE huge potential. As they say, don't put in more than you can afford to lose. I'm feeling a little jittery now that I've heard rumors about Warka....anyone know anything I should know? All I've heard is "rumors" and "Warka" in one sentence and now I'm concerned.

Rico

[DinarDana]

i am confused not at the isx but at the basis of who ever told you that the isx was highly liquid??? of all the research i've done before jumping into the isx brought me to the understanding that this market was an infant. i never had the notion that the isx was fully developed and operating on all cylinders.....did you? please help me understand how what you are saying is a new revealing fact? the reason why this risky investment might be a huge opportunity toward wealth is because we are able to get in BEFORE it becomes the exchange of choice for heavy investors. if the poor man waits for the rich man to approve an investment, it is already too late for the poor man. the poor man has to steal the opportunity before the rich man stakes his claim. the poor has to take higher risk to see high reward because gaining 10% on my $15K is meaningless to the wealthy gaining 10% on their $20M.

knock the isx if you want but a brother like me is all in!

I was just thinking of you when I opened this post and here you are. Thanks for sharing this insight. I do hope I get to the point where I can invest in the ISX before too long. I have copied many of your advisement posts regarding the ISX to use in the future. Thanks again TrinityeXchange!

I got in the ISX through Warka KNOWING that it is a huge risk....with POSSIBLE huge potential. As they say, don't put in more than you can afford to lose. I'm feeling a little jittery now that I've heard rumors about Warka....anyone know anything I should know? All I've heard is "rumors" and "Warka" in one sentence and now I'm concerned.

Rico

I think if you go to TrinityeXchange posts you might find some good information how to invest without Warka. I believe he found an investment broker in Iraq. I'll try to dig that post up if you are interested.

[Frank61]

At an exchange rate of 1166 of course the ISX is low.........!!! This is the whole point of getting into the ISX now.