Market Closed Date 28/03/2017
2013

December

Reformation the Board of Directors of the Amman Stock Exchange (ASE)

The Board of Directors of the Amman Stock Exchange (ASE) has elected in its meeting held on Sunday, November 24, 2013 Mr. Marwan Batayneh as the Chairman of the Board of Directors of the ASE and Dr.  Abdulhadi Al-Alaween as Vice Chairman.

The Board of Directors includes in its membership Dr. Ashraf Al Edwan and the brokerage companies - which are elected as Members of the Board in the last General Assembly meeting- represented by Mr. Naser Al-Amad for the United Fianancial Investments Company, Mr. Nizar Al-Taher for the Ahli Brokerage Company, Mr. Hadi Abu Suad for the Mubadala Fianancial Investments Company and Mr. Samer Saeid for the Global Investment House-Jordan.

It is worth mentioning that the Jordan Securities Commission has appointed Dr.  Abdulhadi Al-Alaween as a Member of the Board of the ASE, as of November 19, 2013.

 

 November

The Companies' Third Quarter Reports for the year 2013

The Acting chief Executive Officer  of Amman Stock exchange (ASE), Mr. Nader Azar, said that according to the listing Directives of securities for the year 2012; all companies listed at the ASE should submit their quarterly reports reviewed by their auditors within one month of the end of the said quarter. Azar added that "  (212) companies representing (90%) of the overall  listed companies at the ASE submitted their audited quarterly reports  reviewed by their auditors within the time limit of receiving their quarterly reports ended on Thursday 31/10/2013".

Azar declared that the ASE circulates these reports to the brokerage firms, and post them on the ASE website (Arabic Version) www.exchange.jo

in circulars and disclosures/quarterly reports window.

On the other hand, Mr. Azar said that a number of listed companies - mentioned below- did not submit their reviewed quarterly reports within the time limit, where Jordan Emirates Insurance Company provided the ASE with its un- reviewed quarterly reports within the time limits violates the provisions of Article (17) Listing Directives at the ASE.

 It's worth mentioning that companies that didn't provide the ASE with the required data in the time limit will be subject to the penalties stipulated in Listing Securities Directives.

 

Companies that didn't provide the ASE with the required data

 

October

 

Amman Stock Exchange (ASE) Participate in the Meeting of the OIC Member States' Stock Exchanges Forum and IIFM Seminar

The Acting Chief Executive Officer of the Amman Stock Exchange (ASE), Mr. Nader Azar, represents the stock exchange in the 7th meeting of the Organization of the Islamic Cooperation (OIC) which has been held in Istanbul/ Turkey on September 19, 2013. The meeting was attended by representatives of the securities exchanges and post-trade institutions of OIC member states.

The Forum meetings bring together integration and harmonization between securities markets, accelerating regulatory convergence, prospects of mutual investments developing debt and capital markets instruments and sukuk. Mr. Azar has held a number of meetings on the sidelines of the conference in purpose of strengthening the cooperation between the ASE and the securities exchanges of the Islamic Cooperation (OIC) member states.

The International Islamic Financial Market (IIFM) seminar entitled "Islamic Collateralized Liquidity Management Tool and Islamic Real Estate Investment Trusts" is organized on September 20, 2013 in cooperation with IIFM, attracted participants from the securities exchanges and post-trade institutions of OIC member states as well as Turkish intermediary institutions and investment funds. This seminar comes up with signing a Memorandum of Understanding (MoU) between Borsa Istanbul and IIFM.

It is worth mentioning that the Organization of Islamic Cooperation (OIC) represents the collective voice of the Muslim world having 57 members all over the world covering 1.5 billion Muslims.

 The International Islamic Financial Market (IIFM) is the international Islamic Financial Services Industry's standard setting organization focused on the standardization of Islamic financial products, documentation and related processes at the global level.

 

A Delegation from Muscat Securities Market Visits the ASE

Amman Stock Exchange (ASE) received  Mr. Jouma' Bin Obeid Alsa'di from Muscat Securities Market(MSM), where Mr. Alsa'di was briefed on the  ASE' experience on inspection, surveillance and  listing as well as the latest legislative and technical developments witnessed by the Jordanian capital market.

Mr. Alsa'di also visited Jordan Securities Commission (JSC) and Securities Deopsitory Center (SDC). This visit comes within the framework of cooperation between the two exchanges.

 

Amman Stock Exchange (ASE) Receive Student Delegations

Amman Stock Exchange (ASE) received a student delegation from Al-Fareed Model Schools. The ASE briefed the delegation about its work and its investments basics and the technical and legislative developments witnessed by Jordan capital market. They also visited the Investor's Gallery in the housing Bank Complex and toured a number of brokerage firms.

 

August

Awareness Lecture entitled "Corporate Governance & New Markets  Segmentations at the ASE"

On Tuesday July 2, 2013 the Acting CEO of Amman Stock Exchange (ASE) Mr. Nader Azar opened an awareness lecture entitled "Corporate Governance and new markets segmentations at the ASE" and in the presence of a number of the officials of the departments at the ASE.

Mr. Azar said that holding such lectures goes in line with the ASE's policy of strengthening its ties with the local community and spreading the investment culture and raising awareness among citizens and investors, this  lecture is part of the ASE' awareness lectures series which is held to foster the continues communications links  with the local community. Where this lecture was presented by the head of Listing Division at the Listing & Operations Department at the ASE Mr. Moayyad Tahtamouni . It's worth mentioning that the lecture witnessed a remarkable attendance from those who are interested in securities and brokerage firms.

 

Launching a special application for Trading Watch program through mobile phones

July 2013 Amman Stock Exchange (ASE) launched a special application for Market Watch (ASELIVE) to run through mobile phones - using Android system- which the ASE has internally developed .

The application aims to enable investors and those who are interested in securities to follow up their investments lively and directly on mobile phones, also it serves the strategy and the work programs of the electronic government (E-Government) through improving the level of the applied services for people and the business sector, and providing the required data in a high accuracy and in an accurate time.

Within this framework, the application provides many advantages  and services for those are interested in  securities which  will help them in taking their investment  decision, these advantages are:- Show  live trading data for 15 companies all at the same time, so the user can  select companies that want to follow-up, the application also enable the user to add a (12) different lists contains  companies that want to follow-up, Summary of the market performance in general in terms of trading volume, number of traded shares and the market index, and Shows the market depth through providing the five best prices for buy and sell orders for security, in addition to a Chart shows the behavior of the share price during the session (Intraday).

It is worth  mentioning, that  the above mentioned application can be downloaded  by searching for (Amman Stock Exchange or ASELIVE) on the Google Play store, or by logging on the Internet through the following link

https://play.google.com/store/apps/details?id=ase.com.aselive

Note that the user can use the same user name and the password used in the Market Watch program and it should be in English Language to enter the mentioned program.  

 

July

 

ASE participated in the Annual Conference of the Union of Arab Stock Exchanges

Amman Stock Exchange (ASE), represented by Mr. Nader Azar the Acting CEO of the ASE participated at meetings of the Union Council and the General Commission / of the Union of Arab stock exchanges in its thirty-eighth session, which was held in Tunis, Where the meeting was chaired by Mr. Ahmed Saleh Al Marhoon the current Chairman of the Union of Arab Stock Exchanges, and in the presence of the General Secretary of the Union, Dr. Fadi Khalaf.  During the meeting, they approved the previous meeting which was held in Muscat - Sultanate of Oman on April 2012, and they listened to the report of the Chairman of the Executive Committee. They also  approved the recommendation of the Executive Committee of the Union regarding statements and reports for the fiscal year 2012 and the discharge of the General Secretariat for the fiscal year 2012, in addition to confirm the recommendation of the Executive Committee regarding the estimated budget and the appointment of the auditor of the Union for the year 2013. They also approved the transfer of the presidency of the Union for the next meeting to the host country Tunisia, represented by Mr. Mohamed Bisho - chairman of Tunis Stock Exchange. These meetings witnessed a wide participation from the Stock Exchanges, the Securities Commissions,  Depository Centers and brokerage firms.

On the margin of this meeting, ASE participated as a member of the Executive Committee of the Union of Arab Stock Exchanges, represented by Mr. Azar in the third meeting held by the Executive Committee in the presence of all Committee members. During the meeting they approved the previous meeting of the Executive Committee, which was held in Muscat - Sultanate of Oman on March 3, 2013. Also, they presented the results of Arab Stock Exchange Linkage meeting, which was held in Dubai on April 24, 2013, and the initial contacts conducted by the General Secretary of the Union regarding the development of its website of and the addition of an electronic gate to collect statistical information and building a database specialized to the Union. They also oversaw the financial situation of the Union for the first quarter of 2013 and discussion the preparations for the annual conference of the federation for 2014 to be held in Morocco.

It is worth mentioning that the Union attended by a representatives of Arab stock Exchanges in addition to (19) Depository Centers, so as the Union seeks in its periodical meetings to discuss many issues and aspects related to the development of Arab Stock Exchanges, upgrading them and encourage them to approach international practices, as well as take advantage of the experiments of some members to spread the benefits and take advantages of successful experiences. 

 

American Student Delegation Visits the ASE

The Acting CEO of the ASE Mr. Nader Azar in the presence of the Head of the Legal  Department Mrs. Abla Al-Najdawi received an American student delegation from Law Faculty/Aiwa University at USA accompanied by the Professor Adrian Wing the International Lawyer at Law Faculty, this visit comes within a framework of a field visit to the Hashemite Kingdom of Jordan where Mr. Azar briefed the delegation about the operations at the ASE and the basic investment principles in the exchange. They also had an overview on the latest legislative and technical developments of Jordan capital market and the trading system of the ASE.

 

A Delegation from Khartoum Stock Exchange Visits the ASE

 

Amman Stock Exchange (ASE) received Mr. Salah  Awad   , from the Inspection & Survillance Department - Khartoum Stock Exchange(KSE), where he was briefed on the experience of ASE in the fields related to inspection, monitoring, and  surveillance,  he also tackled  the latest  technical and legislative developments witnessed by the Jordanian capital market.. so as this visit comes within the framework of cooperation and exchanging experiences between the two exchanges.

 

June

 

The Training program for inspection systems on entities subject to the Commission's monitoring and management methods

The Chairman of the Jordan Securities Commission HE Mr. Mohammed Saleh Al-Hourani in the presence of Mr. Nader Azar, Acting Executive Officer of Amman stock Exchange, and Mr. Jalil Tarif, the  General secretary of the Union of Arab Securities Authorities has opened the training program for inspection on entities subject to the Commission's monitoring and management methods, investigation and implementation, which was  held in cooperation with the Union of Arab Securities Authorities and with  a participation of a number of Arab countries, including Iraq, Kuwait and the United Arab Emirates , Palestine , Oman, Saudi Arabia and capital market institutions in Jordan.

Where Mr. Azar addressed the ASE' experience in the field of surveillance and inspection, stressing on the importance of applying successful surveillance and inspection systems to save time, money and effort on the securities commissions later.

A number of topics were discussed related to brokerage firms, and inspection on brokerage firms, and the legal aspect of the inspection , investigation methods and implementation, compliance officers and their role in the inspection of brokerage firms, in addition to the presentation and discussion of a practical cases.

It is worth mentioning that Union of Arab Securities Authorities is an Arab institution based in the city of Abu Dhabi and was established in 2007, the Union represents a professionally gathering includes Arab countries that have securities commissions on the stock exchanges, namely Egypt, Tunisia, Morocco, Algeria and the Gulf Cooperation Council (GCC), including Saudi Arabia, Bahrain, Qatar and the UAE, Oman and Kuwait, in addition to Jordan, Iraq, Palestine, Syria and Lebanon.

 

 

A Delegation from Khartoum Stock Exchange Visits the ASE

Amman Stock Exchange (ASE) received a delegation from the employees of the information Techniques in Khartoum Stock Exchange, where the delegation was briefed on the mechanism of work of the  Information and telecommunication Department and the Listing and Operations Department, The delegation also visited the Jordan securities Commissions(JSC) and Securities Depository Center(SDC), This visit comes within the framework of cooperation and joint work, which aims to exchange the experiences between the Amman Stock exchange and the Khartoum Stock Exchange. 

 

ASE Receives Student Delegations
Amman Stock Exchange (ASE) received student s from the University of Jordan - Aqaba Branch / Business Administration Faculty and from Al-Abayt University, where Awareness & Public Relations Department presented an explanation of the nature of the work of the ASE, its basics investment, and other legislative and technical developments witnessed by the Jordanian capital market. 


May

The Companies' First Quarter Reports for the year 2013

The Acting CEO of the ASE, Mr. Nader Azar, said that according to the listing securities Directives which was approved last year; all companies listed at the ASE - for the first time historically -should  submit their quarterly reports reviewed by their auditors within one month of the end of the said quarter. Azar added that the number of companies which submitted their reviewed quarterly reports reached 193 companies representing (80%) of the overall companies within the time limit of receiving their quarterly reports ended on Tuesday 30/4/2013,  While a single company provide the ASE with the required data after the time limit.

Azar added that the ASE circulates these reports to the brokerage firms, and post them on the ASE website (Arabic Version) www.exchange.jo

in circulars and disclosures/quarterly reports window.

On the other hand, Mr. Azar said that a number of listed companies - mentioned annex- did not submit their reviewed quarterly reports within the time limit, breaching the provisions of Article (17) of Listing Directives at the ASE, where Jordan Commercial Bank, Arabia Insurance Company-Jordan, Arab Life & Accident Insurance, Mediterranean Tourism Investment submit the ASE with their un-reviewed quarterly reports within the time limits.

It is worth mentioning that companies that didn't provide the ASE with the required data in the time limit will be subject to the sanctions stipulated in Listing Securities Directives.

 

A Delegation from Libyan Capital Market Visits the ASE

Amman Stock Exchange (ASE) received a delegation from the employees of the information systems management in Libya capital market, where the delegation was briefed on the mechanism of work of the  Information and telecommunication Department, The delegation also visited the Jordan securities Commissions(JSC) and Securities Depository Center(SDC), This visit comes within the framework of cooperation and joint work, which aims to exchange the experiences between the Amman Stock exchange and the Libyan capital market.

 

Stop Printing ASE News Letter

Amman stock Exchange (ASE) as of June 2013 will stop printing ASE News Letter hardcopy, and the ASE will resume designing the newsletter and uploading it on the ASE website www.exchange.jo. Within the library and publications window. 

 

April

ASE Fourteenth General Assembly Meeting

Amman Stock Exchange (ASE) held its Fourteenth  General Assembly Meeting on Thursday, March 28, 2013, the meeting headed by Dr. Safwan Toukan the Chairman of the Board of Directors, in the presence of the members of the Board of Directors,  the Acting CEO of the ASE Mr. Nader and a representatives of Jordan Securities Commission(JSC). During the meeting, they discussed the report of the Board of Directors on the activities of the ASE for the year 2012 and its future plan; the participants listened to the Auditor's Report including the balance sheet, final statements of account, and the financial position. Moreover, they also discussed the annual balance sheet, the account of revenues and expenditures, and the cash flow fir the ASE. The financial statements for the year ending December 31st, 2012 also endorsed. 

 

Challenge Initiative for Research Companies in Jordan

Under the patronage of Amman Stock Exchange (ASE), Chartered Financial Analysis Institute (CFA), and CFA Jordan launched the Challenge Initiative for Research Challenge in Jordan. Teams from five local leading Jordanian universities competed with a chance to participate at the regional and global levels.

This challenge is an  original imitative devised   to teach university students in Jordan  best practices  in equity research, valuation, and ethics and as a means for  leading industry professionals to train students  in researching and reporting on public companies.  Arab Potash Company was selected as the subject company for the challenge.

The five participating universities are: Yarmouk University, Jordan University, The Hashemite University, The German Jordanian University, and the University of Applied Sciences, the four arbitration committee including the active CEO of the ASE Mr. Nader Azar chose The German Jordanian University as the winner of Local Challenge so as it will participate in the Regional Challenge which will be in London, with a chance to compete at the Global level if the team win at the regional level.

 


March

ASE' Fourteenth General Assembly Meeting

Amman Stock Exchange (ASE) will hold its Fourteenth  General Assembly Meeting on Thursday, March 28, 2013, the meeting will be Chaired by Dr. Safwan Toukan the Chairman of the Board of Directors, in the presence of the members of the Board of Directors,  the Acting CEO of the ASE Mr. Nader and a representatives of Jordan Securities Commission(JSC). During the  meeting, they will discuss the report of the Board of Directors on the activities of the ASE for the year 2012 and its future plan; the participants will listen to the Auditor's Report including the balance sheet, final statements of account, and the financial position. Moreover, they will discuss the annual balance sheet, the account of revenues and expenditures, and the cash flow fir the ASE. The financial statements for the year ending December 31st, 2012 will be endorsed.

 

 ASE participated in the Annual Conference of the Union of Arab Stock Exchanges 2013

Amman Stock Exchange (ASE), represented by the Chairman of the Board of the Directors Dr. Safwan Touqan  and the Acting CEO of the ASE Mr. Nader Azar, participated in the Annual conference of the Union of Arab stock exchanges which  was organized by Muscat Securities Market(MSM), and was held in Muscat / Sultanate of Oman on March 3-4, 2013.The conference witnessed a wide participation of stock exchanges , Securities commissions, Clearing and settlement, brokerage firms and investment banks in addition to a number of the world's leading experts in the field of financial markets.

During the meeting, a number of  important issues were discussed regarding the Union and some Arab members countries that applied the trading system NSC,  as : NYSE EURONEXT trading system which is a complement of the discussions of the meeting- which was held in Paris on January 15 - 16, 2013- and to take the necessary decisions concerning a NYSE EURONEXT Stock Exchange' proposal to provide regional stock exchanges- which used the above mentioned trading system- an updated copy of this system. In addition to the discussion of a framework connection between stock exchanges in Gulf area   and invite   all the exchanges members in the union to discuss the possibility of circulate an interconnection project to all Arab stock exchanges in a second phase

In Parallel to that meeting a side meeting was held with the NASDAQ OMEX company to overview the latest developments on trading systems in the region and in the world. They also held a training course on Islamic instruments attended by (25) trainees from different Arab countries.

 

February

ASE Participates in NSC Trading System Users Meeting

Under the patronage of the New York Stock Exchange (NYSE) Euronext, Amman Stock Exchange (ASE) represented by Mr. Marwan Bataineh, the Deputy Chairman of the Board of Directors, and Mr. Nader Azar / Acting Cheif Executive Officer, and Eng. Mohammed Al- Khatib, the Head of the of Information and Communications Technology Department at the ASE participated in the Arab Stock Exchanges meeting using the electronic trading system (NSC), which was held in Paris.

During the meeting, they reviewed the international developments at the level of trading systems and the needs of Arab Stock Exchanges for a new trading system during the next two years, Whereas the company presented a conception of a new system that will be specially developed for emerging markets recognized as "Hybrid System" inasmuch be able to deal with securities in the cash market of stocks and bonds as well as other financial instruments such as derivatives and forward contracts.

Moreover, the system has a mechanism to monitor the trading procedure and surveillance   in addition to the possibility of the development of the system technically in terms of performance, capacity and trading screen

The ASE will conduct review of the new system upon its update and examine the available options in accordance with Jordan Capital Market needs.

 

ASE Considered as The Fourth Best Performance among 14 Arab Financial Markets

Amman stock Exchange (ASE) attained the fourth best performance among fourteen Arab financial markets during January 2013, with a 4.5% increase .The financial analysis-conducted on the performance of Arab Stock Exchanges revealed that Dubai Financial market has achieved the best performance with (16.3%), Abu Dhabi Securities Exchange ranked the second with (9.4%) , Kuwait Stock Exchange rank the Third with (5.2%),  whereas Amman Stock exchange (ASE)  ranked the fourth with (4.5%), up from the average performance of the Arab markets which recorded (4.2%). As it turns out that Qatar Exchange was ranked fifth with (4.4%), then Tunis Stock Exchange ranked sixth with (3.7%), and Saudi Stock Exchange ranked seventh (3.6%), and Beirut  Stock Exchange came in  rank eighth  (2.8%). Based as it has been published in the Alarab alyawm daily newspaper on Feb. 11, 2013.

 

January

ASE Held a Lecture Entitled "Fundamental and Technical Analysis and Price Map Reading

Under the patronage of the Chairman of the Jordan Securities Commission (JSC), Mr. Mohammed S. Al-Horani, in the presence of the Acting chief Executive Officer (CEO) of Amman Stock Exchange (ASE) Mr. Nader Azar, ASE started holding a series of awareness lectures aims to aware and educate those who are interested in the stock exchange on the basics of investment, these lectures concentrates on topics relevant to Jordan Capital Market, and dealing with securities, the first lecture which was presented by Dr. Waseem Haddad from awareness &Public Relations Dep. entitled "Fundamental and Technical Analysis and Price Map Reading" , with a total duration of  10 hours over five days.

It is Worth mentioning that  holding such lectures goes in line with the ASE's policy of strengthening its ties with the local community and spreading the investment culture and raising awareness among citizens and investors.

Also,  the first awareness lecture  witnessed a remarkable attendance from those interested in the securities , brokerage firms and capital market institutions as the number of participants reached about (130) participants.

 

New Indices Pertain to First, Second and Third Markets

Amman Stock Exchange (ASE) -as of  the beginning of January 2013- has started calculating new indices for each individual market of the three equity markets on which the listed companies have been distributed on - under the new Listing Directives- whereas the work on the new distribution has been started on November 1st, 2012.z

The ASE will publish  the closing values ​​of these indices after the end of the trading session through its bulletins, which are posted on its website www.exchange.jo, Moreover, the value of said indices will be published throughout the daily statistics being prepared and published on its website .

Notice that the mechanism of calculating the new indices will adopt the methodology applied by Standard & Poor's Dow Jones (S&P Dow Jones), leading in indices. The methodology considers the market capitalizations of the free float shares in calculating the index, note that there is a capping factor of 10% on any company in the index. The methodology also depends on market capitalization and trading activity in choosing the sample of the index, it is the same methodology currently used by the ASE in calculating the general index and sectoral indices, also used by S&P Dow Jones to calculate the index Dow Jones ASE 100 of the ASE.

"As in other world indices, the ASE will have a periodic quarterly review of the indices sample coincide with a review of the general index sample", added Azar. It is worth mentioning that the closing of the year 2012 will be adopted as the base year with (1000) points' base value to the three indices. 

 

ASE receives a Student Delegations

 Amman Stock Exchange (ASE) has received student delegations from Yarmouk University, Philadelphia University, German Jordanian University and from Zarqa National College, Where they received an explanation of the nature of the  work of the ASE and its basics investment principles. Also, they briefed on the latest legislative and technical developments of the Jordan capital market at the legislative and technical level.