He pointed out that the draft is "complete" in the form that meets with the requirements of modern investment, electronic circulation, outside link, stock exchanges, the Arab and regional economies.
Electronic trading: Implementing electronic trading expected to begin early next year. Abdulsalam said that this system has important results in strengthening its ability to activate the potentials of investors and shareholders to benefit from its advantages. It will provide the possibility of opening the Iraqi bourse rooms in Kurdistan region as well as the central and southern governorates. He pointed out that the market has a plan that would include the possibility of registering non-Iraqi companies in the Iraqi Stock Exchange and Iraqi companies in Arab Stock Exchange.
Abdulsalam returned to Baghdad after an observation trip in Amman with a delegation from the bourse presided by Head of Trustees Talib Tabatabai. There, he observed the phases of implementing the electronic system by an international company. He considered the issuance of the new investment law which allows non-Iraqis to trade on the Stock Exchange as well as applying and using electronic systems, encourages and stimulates non-Iraqi circulation in the Iraqi market. This means the rise of market value of the shares due to the high demand and the increase of investors' incomes in the market as well as their wealth.
The executive director of the market said that the manual circulation adopted at the Stock Exchange, holding two sessions a week for two hours each and the continuing process of changing ownership from seller to buyer that takes two or four weeks, all prevent the buying investor from selling until after this period, while the electronic circulation allows the agents to trade through their offices in Baghdad and elsewhere. The Exchange could also be done during ten sessions within five days a week, divided into a morning session and an evening one, for two hours each. He pointed out that the investor who buys the shares in the morning session can sell them in the evening and visa versa.
He anticipated that the number of executed contracts, now 350, will increase hundreds of times after adopting the electronic system. This means achieving high fluidity of the circulated shares by perhaps up to 100%.(Source)Dar AlHayat