History of Iraq Stock Exchange in Timeline

The Iraq Stock Exchange (ISX), formerly the Baghdad Stock Exchange, was established on April 18, 2004, by the Coalition Provisional Authority (CPA) Order No. 74 as an independent non-profit organization. This order also established the Iraq Securities Commission and an Iraq Depositary. The ISX was created to facilitate Iraq's transition from a centrally planned economy to a free market economy driven by a vibrant private sector.

2003: Baghdad Stock Exchange Operation

Prior to the 2003 invasion of Iraq, the country's stock exchange, then called the Baghdad Stock Exchange, was operated by the Iraqi Ministry of Finance. It is now a self-regulated organization, owned by member brokerages.

April 18, 2004: Establishment of the Iraq Stock Exchange

On April 18, 2004, the Iraq Stock Exchange (ISX), formerly the Baghdad Stock Exchange, was established by the Coalition Provisional Authority (CPA) Order No. 74. The order established it as an independent non-profit organization and also created the Iraq Securities Commission and an Iraq Depositary.

June 24, 2004: Incorporation and Start of Operations

On June 24, 2004, the Iraq Stock Exchange was incorporated and began operations under the oversight of the Iraq Securities Commission. June Reed is noted as an American advisor to the stock exchange.

2004: Opening of Iraq Stock Exchange

The Iraq Stock Exchange (ISX) opened in 2004 with 15 companies listed.

2005: ISX as Iraq's only Stock Exchange

As of 2005, the ISX was Iraq's only stock exchange with more than 100 companies listed. Turnover of shares in 2005 was approximately $5 million USD per trading session. Major stocks included Bank of Baghdad, Baghdad Soft Drinks Co, Iraqi Tufted Carpets Co, Hader Marble, and Altherar Agriculture.

2006: Trading Sessions and Volume

In 2006, 92 trading sessions were held on the Iraq Stock Exchange (ISX), with 57 billion shares traded at a value of 146 billion dinars, and 38,000 trades were consummated. The trading floor was open six hours a week.

2006: Trading Suspension and Challenges

In 2006, trading on the Iraq Stock Exchange (ISX) was suspended for several months due to violence, and was subject to power outages.

August 2, 2007: Opening to Foreign Investors

On August 2, 2007, the Iraq Stock Exchange (ISX) opened to foreign investors.

2008: Unaffected by Financial Crisis

In 2008, the Iraq Stock Exchange (ISX) was unaffected by the global financial crisis.

April 19, 2009: Switch to Electronic Trading

On April 19, 2009, the Iraq Stock Exchange (ISX) switched to electronic trading. Initially, only five companies were available for electronic trading, with plans to add more.

2018: Top Performance and Challenges

In the first quarter of 2018, the Iraq Stock Exchange (ISX) became one of the world's top performers, with listed companies increasing by 10 percent. The ISX still faced challenges, including political instability and the price of oil.