The Iraq Stock Exchange (ISX), formerly the Baghdad Stock Exchange, was established in Baghdad on April 18, 2004, by CPA Order No. 74 as an independent non-profit organization. This order also established the Iraq Securities Commission and an Iraq Depository. The creation of the ISX was part of Iraq's transition from a centrally planned economy towards a free market economy through a dynamic private sector. It plays a vital role in the country's economic development and financial landscape.
On April 18, 2004, the Iraq Stock Exchange (ISX) was established by the Coalition Provisional Authority (CPA) Order No. 74. The order established the ISX as a sui generis independent non-profit organization, along with the Iraq Securities Commission and an Iraq Depositary.
On June 24, 2004, the Iraq Stock Exchange was incorporated and began operations. The exchange operates under the oversight of the Iraq Securities Commission, which is modeled after the U.S. Securities and Exchange Commission.
In 2004, the ISX opened with 15 companies listed.
As of 2005, the ISX had 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.
In 2006, 92 trading sessions were held, 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: Sunday, Tuesday, and Thursday from 10:00 a.m. to 12:00 noon.
In the first quarter of 2018, the Iraq Stock Exchange (ISX) became one of the world's top performers due to the influx of investors, encouraged by the defeat of the Islamic state. Companies listed on the market increased by 10 percent, anticipating economic recovery due to recent developments. However, the ISX still faced challenges including political instability, sporadic conflicts, and the price of oil.
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