Under the sponsorship of Iraqi Securities Commission, Iraq Stock Exchange has signed a strategic agreement to update trading mechanisms in collaboration with the Egyptian Company for Information Dissemination

In a step aimed at developing and improving the investment environment in Iraq, and under the sponsorship ofIraqi Securities Commission, Iraq Stock Exchange (ISX) signed a cooperation agreement with the Egyptian Information Dissemination Company on Tuesday. This follows intensive discussions that lasted for more than six months. The agreement includes the licensing, use, and maintenance of the remote trading system for investors (OMS), the broker management system (Back Office), and investor portfolio management, for a period of five years.

In this context, the Chairman of Iraqi Securities Commission, Mr. Faisal Al-Haimus, stated Signing this agreement represents a significant step in developing the Iraqi securities market. We are committed to providing the latest technologies to investors, which will contribute to enhancing confidence and attracting more investments into the Iraqi market.

For his part, the Executive Director of the Iraq Stock Exchange highlighted the importance of this step, saying: "The remote trading system is a vital addition to our ongoing efforts to develop the market infrastructure. The system’s successful track record in the Egyptian Stock Exchange over the past five years has proven its effectiveness, and we are excited to see its positive impact on our market.

It is worth noting that the new system includes smart applications aimed at facilitating trading operations and improving the investor experience, reflecting the commitment of the involved parties to develop the financial sector in Iraq and achieve sustainable growth.

Government Media and Communications

14/08/2024