Cairo Amman Bank’s custody team visited the Amman Stock Exchange to discuss the new developments and upcoming future plans.
The meeting with ASE’s CEO Mr. Nader Azar, and Mr. Bassam Abu Abbas the new deputy CEO appointed recently at the ASE focused on three main upcoming progresses for the Amman stock exchange, the First is the new trading system, Mr. Azar mentioned that the ASE of Jordan in addition to the exchanges of Oman, Tunisia and Lebanon are going to buy a new trading system that will be especially designed for these countries by NYSE Technologies. The new “Hybrid” trading system- planned to be implemented during 2016, will introduce further enhancements to meet requirements and best serve market participant’s needs.
The second update involves a new surveillance system that will be introduced in cooperation with the Jordan Securities Commission. The new surveillance system will help enhance the performance of the market participants as it will raise the levels of follow up and observation of market practices.
The third major update involves the conversion of the legal entity of the Amman Stock Exchange from a public utility institution formed by virtue of the Securities Law, into a Public Shareholding Company, owned by the Government and others, allowing it to issue securities that shall be listed and traded in the exchange, this new study will be presented duly through the concerned official channels, and it requires amendments to the Jordanian Securities Law in force.