In collaboration with an Egyptian company, Iraq signs a strategic agreement to update trade procedures

INA-  BAGHDAD


The signing of a strategic agreement to update trading procedures in conjunction with an Egyptian company was announced by the Iraq Securities Exchange-ISX on Wednesday.
 
 "The Iraq Securities Exchange signed a cooperation agreement with the Egyptian Company for the Dissemination of Information, under the auspices of the Iraqi Securities Commission, in a step aimed at developing and improving the investment environment in Iraq, after intensive discussions that lasted for more than six months," according to a statement from ISX that the Iraqi News Agency (INA) obtained.
 
The statement went on, "The agreement covers licensing, using, and maintaining the investors' remote trading system (OMS).
 
"Iraq is committed to providing investors with the latest technologies, which contributes to enhancing confidence and attracting more investments to the Iraqi market," the statement read. "The signing of this agreement represents a qualitative leap in the development of the Iraqi stock market."
 
"The importance of this step, as the remote trading system is a vital addition to our continuous efforts towards developing the market infrastructure," stated Faisal Al-Hims, CEO of the Iraq Securities Market. "The Egyptian Exchange's experience with the system over the past five years has proven its efficiency, and we are excited to see its positive impact on our market."

"The new system incorporates intelligent applications targeted at enhancing the investor experience and streamlining trading operations, which reflects the commitment of stakeholders to develop the financial sector in Iraq and achieve sustainable growth," he noted.