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Iraq Stock Exchange new online trading system calls to provide offers


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Hey everyone I stumbled upon this awesome article about changes coming to the ISX.  If I am reading this right, soon (forgive me using that term) brokers' clients will have the ability to access realtime trading information online.  This will level the playing field SIGNIFICANTLY between non-iraqi and iraqi investors.  The only problem is that I can't find the official article.  The article below is from another dinar site without proper links.  However the information is corroborated by the Rabee Security report that came out, "ISX has asked to produce offers for online stock trading system according to the investing instructions through an exclusive contract with a technical specification." Read more: http://dinarvets.com/forums/index.php?/topic/206208-iraq-stock-market-report/#ixzz3hp5wO7YE

 

So it looks as if the ISX is requesting proposals for a 3rd party to install and manage a new online trading system.  I am trying not to get too excited right now because I know how Iraq operates.  We may not see this completed until 2 years from now. 
 
ps.  looks like there is a pdf file out on Mubasher's site that looks official.  I got a link to this from Recaps.  
 
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Iraq Stock Exchange new online trading system calls to provide offers
Posted on July 29, 2015 by TRC
 
lraq Stock Exchange Automated Systems Department Invitation JulY 2015 On-Line Trading System We are inviting you to offer your offers of On-Line Trading System to perform the following functions:
 
l- The System Hosting in Iraq Stock Exchange, and All the Equipment and Applications of this Project will be inside the Iraq Stock Exchange.
 
2. The; system must be compatible with the ISX X-Stream System
 
3. System consists of two Modules, the First Module is for Investor Services, and the Second Module is for Brokers Services’
 
4. The Investors Services include : View market Data feed in Real time ‘ View their portfolios in the market, and their shares in the CSD ‘ Get all specific data, studies and news that are generated by ISX
 
5. The Brokers Services include: Ensure feeding market data to clients and investors Trading service via the Internet in real time to its investors Ensure open a handling account in the csD and in the Broker. Granting the ability to investors to view their portfolios and data Financial transfers between banks and the clearing bank and brokers Technical Analysis of the problems
 
6. The System must be compatible with IBM WebSphere Portal
 
7. The system must be compatible with IBM Mobile solution
 
8. The System Providing the Services vi Internet , Mobil App , SMS , Email ‘ Bid Conditions:
 
l- – Offers (commercial and technical) should be delivered within the next 15 days after the announcement date
 
2. The company bears the cost of the system and the costs of operating the equipment . system, with an exclusive contract for the company to manage service
 
3. The company must give a technical support, And Training the ISX Technical Staff.
 
Mubasher.info
Edited by TrinityeXchange
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i think things are becoming more clear to me now why the ISX upgraded their trading platform.  now i am convinced that this had nothing to do with the isx coming onto the nasdaq.  instead it has everything to do with the isx becoming more robust allowing investors better insight to their portfolios and the possibilities of online trading.  the upgraded system allows for brokers to directly access and transfer funds from the investment bank into the clearing house after investor/clients place online orders.  they are looking to completely do away with the current system whereby clients have to fill out a paper form, scan the form into electronic format and email the order to their broker in hopes that they receive it timely enough to place the order.  by today's standards, this is slow and cumbersome.  the platform upgrade allows for a more streamlined approach to trading but it was only the first piece put in place to bring the trading platform up to modern standards.  the next piece we are witnessing is online trading.  this will allow for seamless and speedy interactions between client, broker, and exchange.  

 

next i believe we will see the ISX begin hosting other capital markets in the region.  the ISX will act as a hub and provide exchange services.  if iraq can ever stabilize their country and prove safety to foreign investors, the sky is literally the limit.  

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Sorry My Friend for Missing Your Post

 

As you know I have been a little miffed about the BBOB dividend issue and have simply not been reading much on here lately. I have checked by periodically, unbelievably it is not, but this news should be blowing up the thread. This new system will still involve our Iraqi Broker but with the training that took place a couple years ago ....the system will use the Broker as an intermediary, after the fact per se. If they stay true to the training, when or should they go on NASDAQ, the same mechanism would still be in effect. Namely, the Iraqi Broker will still be utilized with every order processed most likely once we log-in to the Bourse.

 

By design they have designed a system where all monies will touch the Iraqi economy 4-5 times before it leaves the Country....priceless!!!

I agree that the design is for the ISX to be a major hub. Actually, I could see the ESX surpassing the ISX as we have already seen what Dubai is looking to see happen on the ESX.

 

Again, My Apologies- What is interesting is we still appear to have similar perspectives on this monster.

 

Blessings Bro.

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no apology necessary Money!  and i knew you were still reeling from the whole bbob thing, i was picking that up in the Spirit brother.  i was wondering though why i was the only one hyped about this and was happy to see your post today in all caps.  it made me say, "thank you!  somebody else is feeling this thing like me."

 

btw, here is the confirmation from our broker (i always like a confirmation when it comes to iraqi news):

you are correct about the article in Iraq Business News on online trading on the ISX . On 28 July 2015 , the ISX website announced a tender to make offers to provide an online trading system on the ISX . This information is available in Arabic and English at link :  http://www.isx-iq.net/isxportal/files/story0_115_7_2_10_42_24.pdf
Edited by TrinityeXchange
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Notice the timing My Friend? I think we see the wheel beginning to move.

true!  rabee securities executive chief put out a great interview a while back concerning the isx.  the article was titled something like "economic crisis not all bad for the isx" or something like.  in it he stated that the significant drop in oil prices forced the goi find value in other mechanisms.  that the goi could no longer continue neglecting the maturation of its capital markets.  iran is coming online at full speed and economists project the influx of more oil will drive down the markets to approximately $30 bpd.  this forces iraq to tap other revenue streams since 90% of its economy is supported by oil.  

 

iraq no longer has a choice and stands at the brink of economic destruction if they don't make changes immediately.  investment laws must be modified to support foreign inflows, banking laws and infrastructure must be modernized, capital markets have to get up to speed with the rest of the region.  so i feel you Money.  the wheel is beginning to move.  i try to contain my excitement about custodian banks bro.  if iraq gets its house in order and prove a stable environment, foreign investment and custodian banks will lift the bourse well past 300%.  heck, as i look at the history of stocks trading the bourse, it is easy to conceptualize significant recovery to where stocks that use to trade at over double today's price just 2-3 years ago.

 

in a nutshell we are sitting at ground zero right now and there is literally nowhere to go but up.

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