Page 31 - ISX Year Book 2023 EN

Iraq Stock Exchange’s Annual Report 2023

Eighteenth: ISX’s Plans for 2024

The Exchange Board of Governors and management formulated annual plans in cooperation
with the Iraqi Securities Commission according to the following principles:

A. Regarding securities trading activity and supervision
1. Implementing the objectives stated in Law No. 74 of 2004.
2. Organizing 235 sessions to trade in shares of joint-stock companies and
government bonds.
3. Executing financial clearance and share settlement processes, in cooperation
with the Clearing Bank.
4. Following up on listed companies’ annual, quarterly and extraordinary
significant events disclosure statements, and the decisions made by their general
assemblies.
5. Supervising trading of brokerage firms in response to the types of orders issued
by dealers, in accordance with specifications of electronic systems and prices of
traded shares.
6. Launching online trading for investors through new brokerage companies that
are equipped with an advanced system.
7. Exercising oversight and inspection pursuant to relevant regulations.
8. Monitoring the implementation of procedures pertaining to anti-money
laundering and financing of terrorism.
9. Implementing supervision and inspection plans associated with brokerage
companies’ activities.
10. Pursuing listed companies’ disclosure statements and timings of suspension,
resumption or launch of their trading on the ISX-adopted electronic systems,
and updating changes to their financial positions on the IDC’s system, in
accordance with applicable regulations.
11. Changing classification of a listed company and transferring its trading between
platforms, according to its degree of compliance with the terms of the trading
markets adopted by the Iraq Stock Exchange.
12. Listing the Sukuk Al-Imar GBs and launching them for trading.
13. Following procedures and mechanisms of listing new companies on the ISX.
14. Conducting investigational hearings to examine possible violators, be they
joint-stock companies, brokerage firms or investors, and referring them to the
Disciplinary Committee.

B. Regarding Technical and Technological Development, and Training
1. Studying modernization of the X-stream electronic system under the plan
presented by the Nasdaq Technologies’ Company.
2. Examining plans to upgrade the X-stream Central Depository System.
3. Launching the ISX-OTC platform pursuant to the regulations governing the
transfer of ownership of shareholders’ securities to the Over the Counter Market
of the Exchange.

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