#IraqProgress : Iraq Stock Exchange Announces a New Stock Index for National and Foreign Investors
On Tuesday, March 2, 2024, the Iraq Stock Exchange announced the imminent launch of a new stock index.
According to "Economy News", the Securities Commission and the Iraq Stock Exchange are preparing to launch a new index entitled ISX15 after studying, analyzing, and measuring the market index of traded stock prices.
According to the statement, the work and analysis team at the Securities Commission and Iraq Stock Exchange used a new index that was first tested in an experimental environment before being implemented in the real market. This process followed important criteria for selecting the top 15 companies with active daily trading. The weight of each company was determined by its market value of free float shares, with a maximum impact of 20% per company. The ISX60 index will also use the same base session and adjust weights based on free float shares and other variables outlined in the index guide.
According to the statement, the purpose of launching a new index, ISX15, is to include free float shares in trading and measuring their impact on financial markets. Additionally, the market plans to introduce both a total index and partial index to monitor share price movements and attract new investors, including national and foreign portfolios. The authority and market will also continue to release updates and closely monitor disclosure processes in a positive manner.
