Stock market investors are demanding the "liberation" of the meetings of the prices of electronic trading

Iraqi investors demanded, on Sunday, the management of the Iraqi market for securities trading electronic editing sessions, and allowing prices to rise for more than 20% of assessments, said the ****utive Director of the Stock Exchange to control prices is to ensure "the integrity of trading and traders are not subjected to any harm."

The Secretary of the Commonwealth of investors in the stock market Salman Hassan Salman, told Voices of Iraq (VOI) that it was important for the management of the stock market to "the liberation of the percentage rates of price increase during the first meetings, owing to the fact that the five companies listed electronic trading trading manual for more than a month, without have the opportunity to increase the value of the same companies that continued trading."

The Iraqi Stock Exchange began the introduction of electronic trading for the first time in Iraq last Sunday (4-19) and to five companies, three of them, a bank Ashur Mansour and international trade and the bar are two Vendeghitan and Mansour, have been identified as a proportion of 20% higher at each meeting an acceptable electronic and set them on Sunday every week only, to continue trading in the hand Tuesday and Thursday sessions.

The Stock Exchange suspended trading manual from 23 February last bank Ashur, Al-Mansour, in addition to Al-Mansour Hotel, and was stopped trading manual hotel bar on the company as of the second of March last, and to stop the trading manual for a commercial bank as of the fourth month of the same, for the purpose of the creation of records by shareholders of the company and submitted to the Center for deposit.

Salman said that "the transition from manual trading system to the electronic means to achieve great speed in the buying and selling at the same meeting," which "was missing from the Iraqi investor, because the completion of the conversion process required a week minimum, an issue important to any investor or a speculator any place of the world because it means the possibility of transfer of shares to the liquidity and vice versa very rapidly. "

Salman said, saying that "this significant shift in the meetings, creating a strong demand compared to the decline of the presentations, and this is not due mainly to the desire of traders Balaanfad only, as it has grown to have no concerns about their ability to compete in electronic trading as a mystery for many of them, because most of the Aegedon dealing with computers, "which is" to create additional demand, "and that" all expectations, refer to the high price of their shares when they turn into electronic trading, and this leads to higher prices of companies that are trading manually."

Said Mohammed al-called investor was also "the liberalization of prices, rates of electronic trading," he said, "a 20% increase of non-profitable for the companies listed therein, in view of the exit at a time when prices have grown considerably, especially including the hotel," adding that "there is a technical problem, such rate ", hitting the ideals of" hotel companies that have not been traded during the two electronic trading, because the sale price set by the ratio unfair to the investor, but did not have purchase orders, has not been provided any offer."

He said that al-"in the absence of contracts, the rate will revert to the latest contract was concluded at the previous meeting, whereas it must be taken to buy the latest display of the new percentage is calculated, otherwise, this means the stability of price and the company suspended trading on."

He told al (Voices of Iraq) that "There are also a number of observations for us as investors, including the issue of medium of communication within the chamber to provide trading instructions from investors," and with "the current weakness of time, either the mediator out of the room, or use ****** ******, The cases dealt with missed opportunities to sell or buy, because they need the time with poor quality of service of ****** ******, "and urged" the provision of internal communication to continue the rapid and intermediary between the investor."

Take it as an intermediary, who declined to be named said "The liberation of prices in the first meetings of electronic trading is important for companies, especially the hotel, to have seen it during the months of February and March last, the increase in high ratios could not be gained to stop trading until the deposit is in the status of deposit ", which led to" the existence of offers to sell at prices greater than the allowable height and is 20%."

The broker added that "the solution may turn to another to avoid the suspension of transactions, and continued to rise, is to sell small amounts for the adoption of a final sale price, so that these companies return to negotiations because it would have remained without the conclusion of the contract, this will halt trading for investors locked in order to preserve the Bashmanm real value which is usually much higher. "

For his part, said ****utive Director of the Iraqi market for securities of the Agency (Voices of Iraq) that "there are several reasons to prevent the liberalization of prices by 100% as demanded by many investors," where there was a "possibility of the fact that some operations to mislead the price in order to obtain a higher price for their shares, "and that through the" request a price greater than the true value, and this is not easy to control because the contracts carried out at high speed through the electronic trading, and not, as was the case previously. "

He said Taha Ahmed Abdul Salam, "The process of liberation, means that there may be affected by the outcome, because the selling price in the first meeting of the ending to find that the price has doubled for example, this means he was a lot of damage." Therefore, the stock market "and found that the percentage of 20% increase in just one meeting at this time between the meeting and the other" and, on the second "typographical errors may occur by the mediator, which are obtained at the beginning of each stage of technological development, especially since many people are unaccustomed to electronic trading."

The Abdel-Salam said: "This was our reliance on price controls, which guarantees the safety of transactions," he said, "It might be stable while the practice, it will be possible to examine the issue of the liberalization of prices, but at the present time, we feel it is not in the public interest to do so."

The market place for the Iraq Stock Exchange (KSE) three sessions weekly, one of which is an electronic five-stock companies on Sunday every week, with hand-held trading sessions on Tuesday and Thursday at 86 listed companies out of 91 companies.