Page 9 - ISX Year Book 2023 EN

Iraq Stock Exchange’s Annual Report 2023

Second: Trading Timings & Platforms

Based upon the regulations applicable for securities trading and decisions made by the Iraqi
Securities Commission and Board of Governors of the Iraq Stock Exchange, trading takes place
technically and administratively on electronic systems, according to the timings shown below:

• 9:30-10:00 Pre-Open Session: the period during which orders to buy or sell
securities are entered, modified or cancelled.
• Opening Bell.
• 10:00-13:00 Opening of Trading Session, and Orders on the continuous book.
• 13:00-13:30 Block and Cross Trade Session, Closing Bell.
• 13:30-14:00 T+0 Share Settlement and Financial Clearing.

The Exchange executes trading through brokerage firms, utilizing the adopted electronic
platforms, as follows:

▪ The Regular Market platform
Pursuant to Regulations No. (6), where the rate of change in share price at the end of a
session is 15% compared to its previous closing price.
▪ The Second Market platform
Pursuant to Regulations No. (15), where the rate of change in share price at the end of
a session is 20% compared to its previous closing price.
▪ The Third Platform (of Undisclosed or Poorly Disclosed Companies)
Its inauguration was in 2022. Within it, the rate of change in share price at the end of a
session is 5% compared to its previous closing price.
▪ The Platform of Trading Government Bonds
Its inauguration was in 2019, with listing of all categories of the ‘Binaa’ (Construction)
Bonds. The year 2024 will see listing of the ‘Sukuk Al-Imar’ (Reconstruction) Bonds
pursuant to the budget law of their issuance and the regulations that control their
trading.
▪ The Over-the-Counter Platform (of Unlisted Companies)
nd
Its inauguration will be on Jan. 2 , 2024, after enactment of Regulations No. (21) for
registering, updating, and maintaining shareholder register for unlisted joint-stock
companies.

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