Millionday News 6/20/14 Part 2
Welcome To Friday Night News Time With Millionday!
[millionday] For his part, Chairman of the Securities Commission, Dr. Abdul Razzaq al-Saadi: it is certain that the conditions experienced by Iraq and the region affect the global stock markets, because investing in the stock market in all the world's fast-moving and possible to be the fastest types of investment for the transfer of money from the state to the other .
He said al-Saadi in a press statement: that the affected exchanges of heart or disturbing news in the region, especially in free markets is not a permanent state, indicating that it is normal to fall when you hear the news and worrying rise when there is stability and financial gain.
[millionday] He said al-Saadi that the Iraqi Stock Exchange has grown at high rates since recovered the pre-five sessions and is a natural phenomenon, correct and positive for investment in securities, pointing out that the collapse of the Arab stock markets will not affect the Iraqi Stock Exchange as it would not affect the country's economy
[millionday] so he is saying that it actually is showing a normal reaction and the economy will not be affected -- also the stocks are holding strong smile
[millionday] now lets look at where we are with the expected launch of the global platform -- brb
millionday] here is the old report that told us about the launch of the nasdaq platform this year -- this was planned and this was sent to me and is exactly what we are seeing happen by the first of july
millionday] The NASDAQ OMX Group (Nasdaq:NDAQ) has entered an agreement with the Iraq Stock Exchange (ISX) to upgrade its current trading platform.
Under the terms of the agreement, ISX will replace its existing NASDAQ OMX platform (Horizon) with one powered by the renowned X-stream technology. The upgrade is expected to be rolled out by mid-year 2014.
[millionday] note -- this was a great find -- thank you my friend -- love it
[millionday] "We are committed to becoming one of the most innovative and groundbreaking exchanges, in the Middle East and across the world," said Taha A. Abdulsalam, CEO, Iraq Stock Exchange.
"Upgrading our trading technology and continuing our partnership with NASDAQ OMX is a clear indication to investors, regulators and other exchanges that Iraq will continue to become a financial center for more regional and global businesses."
[millionday] note -- this is what will come of this change
[millionday] The upgrade to X-stream will provide ISX with a widely deployed high-end, multi-asset trading platform that complies with international standards. The migration to X-stream is a step in ISX's ambition to become a Middle Eastern hub, able to host and facilitate other regional markets.
NASDAQ OMX has delivered trading technology to ISX since 2007. "We congratulate the Iraq Stock Exchange on their commitment to a trading platform that is certain to put them at the technology forefront of exchanges in the Middle East," Lars Ottersgard, Senior Vice President, Market Technology, NASDAQ OMX.
"The upgrade to X-stream technology will equip ISX with a sophisticated and robust trading platform that increases investor involvement both in the Middle East and internationally."
[millionday] note -- obviously this change will bring them to international recognizing --
[millionday] In less than a decade, traded shares in ISX increased almost 10-fold, to more than 1.2 billion traded shares expected in 2013, while market capitalization increased more than seven times over the same period to over $12,170 billion USD in the first six months of 2013 alone.
"We are extremely proud to support ISX's positive development and their vision to provide a well-recognized marketplace in the region," said Michèle Carlsson, Head of Business Development, Middle East and Africa, NASDAQ OMX.
"ISX recently implemented one of the most successful IPOs in the Middle East and by upgrading to our X-stream technology, ISX will be running a resilient market place that will attract both Iraqi and international investors."
[millionday] NASDAQ OMX's X-stream technology is currently used by over 25 exchanges globally.
millionday] note -- the move to nasdaq OMX platform will connect ISX to all that Nasdaq is connected to and is within the market with
[millionday] note -- here is what was also included as an explanation of what the OMX platform is
[millionday] note -- this is extremely informative
[millionday] The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing.
In the U.S. and Europe, we own and operate 26 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products.
Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions.
[millionday] note -- this platform of course will put ISX as an active international trading stock exchange that will also allow the trading to be done as we see in our own nasdaq floor --- very fast and accessible
[millionday] Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today.
Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century.
[millionday] note -- notice -- ACCESS TO CAPITAL -- LOVE THAT TERM -- we would love access to capital please
[millionday] To enable companies to trade electronically, Electronic trading was introduced to the market for the first time in the history of Iraq by using NASDAQ OMX platform in April 2009, The White boards have been replaced by Electronic trading workstations.
ISX operates 5 trading sessions on Sunday, to Thursday every week. According to the regulation rules, ISX tasks include: Regulating, controlling, disclosing, and launching continuous trading on listed company's shares, in addition to controlling both trading operations and activities of Brokerage Companies financial solvency.
millionday] disclaimer : DINARUPDATES IS MAKING NO GUARANTEES THAT ISX WILL BE SUCCESSFUL OR WILL BE OF ANY SUCCESSS --- THESE STOCK MARKET STATEMENTS ARE BEING MADE BY SOMEONE ELSE AND ARE TO GIVE YOU NO INFORMATION TO INVEST OR ANY FUTURE ADVICE ON ANY STOCK EXCHANGES --
[slh5282] Is the ISX still on course to be active July 1? ] by way of the NAS system, that is? NASDAQ
[millionday] the isx is active now -- they are stating that they are working on moving to a global platform OMX that is internationally used by july st of the year 2014 --- i have seen nothing anywhere that says there is a hold up and have seen in what i have brought that they are moving forward so we will have to wait and see as everyone says i say a lot -- lol
[quicktolegit96] when at the earliest, will the new PM be seated? It seems that is what CBI is waiting on or am i wrong?
[millionday] i dont see anything that states they are waiting on maliki to leave except the massive emails i get -- many say he is but what comes from CBI is that they are prepared with the banks and also with the compliance with the international banks -- so i would say he is doing his job with or without maliki -- however if he is waiting it is not in ink
[millionday] but it certainly is in many opinions so we shall see
[millionday] let me see what we have from iraq on what is going on security wise brb
[quicktolegit96] In your opinion, what is left to be done?
millionday] according to what i have seen if all of this does not blow the country up -- we have to wait for the rates to be set and changed
[millionday] brb with more
[millionday] fox news is doing a iraq special for the next hour -- directly from iraq
[millionday] with all the leaders we spend a lot of time discussing
[millionday] note -- food imports moved to a calculation of supply and demand -- that is the definition of market economy
[millionday] National Authority for Investment and professional associations, commercial and industrial mechanisms for the formation of a crowd of economic aimed at supplying the local market with various goods and services and achieve a balance in supply and demand.
said board member of the Baghdad Chamber of Commerce Alaa Al-Nouri in an interview for the "morning": that the proposal made by the Chamber received interest government agencies and the private sector, pointing out that he expected the formation of the body during this week.
[millionday] pointed out that the authority aims to form an operation room specializes in the import of basic food items and what you need government institutions, indicating that the mechanisms of action will be exceptional and shorten the time and organize as needed actual and shorten episodes of excess where import directly without organizing tenders and measures need time to time.
pointed Nouri said the agreement came from several government agencies and the private sector represented by National Authority for Investment and Baghdad Chamber of Commerce and the Federation of Iraqi Industries and Businessmen Union and the Iraqi National Business Council.
[millionday] i have to watch this special on Iraq