Baghdad – IA
The Iraq Stock Exchange announced today, Tuesday, the imminent launch of a new stock trading index.
A statement by the Commission received by the (INA) stated that, “The Securities Commission and the Iraqi Stock Exchange, after studying, analyzing and measuring the market index for traded stock prices, are preparing to launch a new index that operates under the title ISX15.”
The statement added, “The work and analysis team at the Securities Commission and the Iraqi Stock Exchange focused on measuring the new index and testing it on the experimental environment, and then starting the test on the real environment according to the most important principles, the most important of which is selecting a sample of companies for the best 15 companies in terms of continuing daily trading, as well as choosing the company’s weight.” Based on the market value of the free float shares, provided that the effect does not exceed 20% at best for a single company as a maximum, and adopting the same prevailing base session for the ISX60 index after adjusting its weight based on the free float shares, as well as other additional variables that will be presented in the index guide.
The statement indicated that “the launch of a new index, ISX15, aims to adopt free stocks in dealing and trading for the purposes of measurement and influence, and the interest of the financial markets in launching a total index and a partial index to measure the impact on the movement of continuously traded stock prices, and to attract new investors and national and foreign investment portfolios,” indicating that “The Authority and the market continue to issue indicators and updates, in addition to positive follow-up and disclosure.”