Iraq Stock Exchange switches to electronic trading

[ISXme]

(NECN/APTV) - The Iraq Stock Exchange on Sunday made the switch to electronic trading from paper, a move that officials say will save time and increase local and foreign investments. Stock Exchange Chief Abdul-Razaq al-Saadi also hoped that electronic trading will help boost Iraq's cash-strapped economy. Iraq has escaped much of the world's banking crisis because it has limited trading. But plunging oil prices have hurt Iraq's economy. Five companies out of the 91 trading on the Iraq Stock Exchange have been listed to trade electronically. Al-Saadi says the others will be added in coming months. Traders and financial experts welcomed the move. Wadee Nouri, Head of Board of Directors of Ashur International Bank said that with electronic trading, a certificate of shares could be obtained in less than five minutes, while with manual trading, this took two weeks or more. In the past, investors and brokers crowded the floor as transactions were written using colored markers and erasers on white bulletin boards. The following story and video is from APTV.

http://www.necn.com/pages/landing?blockID=147782&tagID=22956

[Circlewood]

I'm pretty sure they did this last year...

[Li$a]

interesting!!

[retep2010]

http://isxwatch.com/

thats the link ........... its real nice.

[jehu]

Wonder what Sunday that was as it is now Friday pm in Bagdad...perhaps an old article

[retep2010]

it is an old one that was back in 2009 i remember it ..... but its all electronic now.....

[precious1970]

I missed so much not being here!

[beaver]

Yep they went electronic in July 2009

here is the link:: http://en.aswataliraq.info/?p=116764

Edited February 20, 2010 by beaver
Added an old LINK

[Joe P]

Yeah...that's great news

[Dinarinator]

with electronic trading, are the Iraqis more or less likely to corrupt the system?