Page 8 - ISX Year Book 2023 EN

Iraq Stock Exchange’s Annual Report 2023

First: Objectives of ISX

The Iraq Stock Exchange was established as a financially-independent, not-for-profit, member-
owned and self-regulatory organization pursuant to Order No. 74: Interim Law on Securities
Markets of 2004, exercising its activity in accordance with the objectives set out in Section 2
of the above-mentioned Law, which was published in Issue No. 3983 of the al-Waqa'i' al-
Iraqiya (the Official Gazette of Iraq) on June 2004 in Arabic and English versions. It is subject
to the supervision of the Iraqi Securities Commission.

The Exchange aims to achieve the following:

1. To operate and regulate its members and listed companies.

2. To promote the interests of investors in efficient, reliable, competitive, transparent and
honest markets.

3. To organize and facilitate fair, efficient and orderly transactions in securities, including
the clearance and settlement of such ones.

4. To regulate its members' dealings in securities-related transactions and define the rights
and obligations of parties concerned and the means to protect their legal interests.

5. To develop the capital market in Iraq, in the interest of the national economy, and assist
in raising necessary investment capital for companies.

6. To educate potential Iraqi and non-Iraqi investors about opportunities for investment in
the Exchange.

7. To collect, analyze and publish statistics and information necessary to achieve the goals
stipulated in the Interim Law.

8. To establish and support contacts with the stock exchanges of Arab and international
markets that may be beneficial to the development of the Exchange.

9. To undertake other services and activities necessary to support its objectives.

Five trading sessions are organized per week, from Sunday to and including Thursday – except
on public holidays. A session usually takes place utilizing the adopted electronic systems,
namely:

1. The X-stream electronic trading system, which was prepared by the Nasdaq
Technologies’ Company, to deal in shares and bonds.
2. The X-stream Central Securities Depository system.

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