Amman Stock Exchange

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Amman Stock Exchange
Type Stock Exchange
Location Amman, Jordan
Founded 1999
Owner Autonomy
Key people Mohammed Hourani Chairman
Bashir Al-Zoubi Vice-Chairman
Currency JOD
No. of listings 247 (2011)
Market cap JOD 19.3 billion (2011)
Website www.ase.com.jo

Amman Stock Exchange (ASE) is a stock exchange private institution in Jordan. It is named "Amman" after the country's capital city, Amman.

History[edit]

The ASE was established in March 1999 as a non-profit, private institution with administrative and financial autonomy. It is authorized to function as an exchange for the trading of securities. The exchange is governed by a seven-member board of directors. A chief executive officer oversees day-to-day responsibilities and reports to the board. The members of ASE are Jordan's 68 brokerage firms.

The ASE is committed to the principles of fairness, transparency, efficiency, and liquidity. The exchange seeks to provide a strong and secure environment for its listed securities while protecting and guaranteeing the rights of its investors. To provide this transparent and efficient market, the ASE has implemented internationally recognized directives regarding market divisions and listing criteria.

To comply with international standards and best practices, the ASE works closely with the Jordan Securities Commission JSC on surveillance matters and maintains strong relationships with other exchanges, associations, and international organizations. The exchange is an active member of the Arab Federation of Exchanges, Federation of Euro-Asian Stock Exchanges (FEAS), a full member of the World Federation of Exchanges (WFE), and an affiliate member of the International Organization of Securities Commissions (IOSCO).

The ASE is charged with: providing enterprises with a means of raising capital by listing on the Exchange, encouraging an active market in listed securities based on the effective determination of prices and fair and transparent trading, providing modern and effective facilities and equipment for trading the recording of trades and publication of prices, monitoring and regulating market trading, coordination with the JSC as necessary, to ensure compliance with the law, a fair market and investor protection, setting out and enforcing a professional code of ethics among its member directors and staff, Ensuring the provision of timely and accurate information of issuers to the market and disseminating market information to the public

Vision, Mission and Objectives[edit]

Vision: Advanced financial market distinguished legislatively and technically, regionally and globally; rising to the latest international standards in the financial markets to provide an attractive investment environment.

Mission: Provide an organized, fair, and efficient market for trading securities in the Kingdom, and secure a transparent, strong, and safe environment for trading securities to deepen trust in the stock market.

Objectives:

Creating an attractive and safe environment for investment.
Developing processes and methods of trading securities in the stock market.
Meeting the latest international standards
Disseminating trading information to the largest possible number of dealers and interested parties.
Enhance the public awareness of all segments of society, while devoting especial attention to dealers of   securities.
Transparency and credibility in the dealings of the stock market.

Core Values:

Fairness.
Transparency.
Outstanding.
Creativity.

Board of Directors[edit]

Mr. Mohammed S. Hourani Chairman Dr. Bashir Al-Zoubi Vice-Chairman Mr. Azzam Yaesh Member Al-Amal Financial Investments Mr. Jawad Kharuf Member Aman For Securities Mr. Tawfiq Najjar Member Arab Co-operation For Financial Investments Mr. Moataz Marakah Member Business Women Trading Securities Mrs. Taghrid Nafeisi Member

Future Outlook[edit]

The Amman Stock Exchange will embark on a number of key projects that will ensure maintaining the lead that the ASE has amongst Arab and regional stock exchanges. These projects can be summarized as follows:

Establishing Jordan National Financial Center. This center will contain: the ASE, Securities Depository Center (SDC), Financial Studies Center, Brokers' Offices, Investors' Gallery, and many other facilities. The external design of the building is inspired from the Siqq of Petra which is considered an ancient symbol in Jordan's history. Launching new indexes. Activating a new marketing strategy which is based on awareness, marketing and media. Launching new financial instruments.

Operations[edit]

The ASE operates a bond market and a stock market. The equities market is divided into a First Market and a Second Market. The exchange has pre-opening sessions from 10:00 am to 10:30 am, continuous trading sessions from 10:30 am to 12:30 pm, pre-closing session from 12:30 pm to 12:40 pm, trading at last session from 12:40 pm to 12:50 pm and block trades session from 12:50 pm to 13 pm, from Sunday to Thursday, except for holidays declared by the Exchange in advance.[1] The ASE's stock indices include the ASE Unweighted Index, the ASE Market Capitalization Weighted Index and the ASE Free Float Index.

Daily Bulletins[edit]

http://www.ase.com.jo/en/bulletins/daily/new

See also[edit]

References[edit]

External links[edit]