MARKET INFORMATION
Amman Stock Exchange (ASE)
http://www.ase.com.jo/

 

 

 

Trading Hours

 

First & Second Markets

Pre-opening session

10:00 – 10:30

            

Continuous Trading

10:30 – 13:30

            

Close

13:30

            

 

Third Market

Pre-opening session

10:00 – 10:15

            

Continuous Trading

10:15 – 11:00

            

Close

11:00

            

The main difference between the three markets depends on the company’s net shareholder equity and earnings. (Please contact us for more details)

            

Time Zone

 

GMT+3

 

 

Trading Days

Sunday – Thursday

            

Trading Currency

Jordanian Dinar (JOD)

 

 

 

 

 

 

 

Main Index

Amman Stock Exchange General Index

            

Reuters code

.AMGNRLX

            

Bloomberg code

JOSMGNFF

            

Exchange Code

Reuters

AM

            

Bloomberg

JR

            

Trading ID/ Trading Requirements

Securities Depositary Center Number (SDC number), custody account number and Acc name

            

Settlement Cycle

T+2

Current Index Status

MSCI FM - FTSE FM

            

Market Cap

$24.9 bn

            
Average Daily Value Traded
YearAVG VALUE TRADED
2023 $8.3mn
2024 $6.8mn
MARKET DYNAMICS

Stock Limit
Up/Down


First Market +/-7.5%

Second Market +/-5%

Third Market +/-10%
from previous close

Tick Size

JOD 0.01

Board
Lot

No board lots except on Arab Bank that trades in multiples of 18 shares.

Crosses

Crossing can be done in market spread during the regular trading hours

Off- Market
Crosses


There is a market for block trades with the following criteria
1) Trading Hours: 13:30 – 13:45 2) Value of the trade should at least be JOD 200K per leg.
3) Regulatory approval must be obtained prior to trading
4) Crossing should take place either +/-5% from the day’s closing price incase the stock is listed in the second and +/-7.5% in case the stock is listed in the first market.
5) off market crosses are not available for the stocks listed in the third market

Official
Closing Price

Last traded price

Iceberg
Orders

Available

MARKET REGULATIONS
Foreign Ownership Restriction
No foreign ownership restrictions apply. Foreign investors may own up to 100% of most of the stocks. However, they are restricted from trading in stocks specialized in strategic activities and projects.
Disclosure Rules
At 5% ownership of any listed company and at every additional 1% ownership,
a disclosure is required post trading until reaching 10% ownership where a public disclosure and regulatory approval must be announced prior to trading.
Before reaching a 10% ownership of any listed bank, the Central Bank approval
is required.
In case the investor is a board member, then a disclosure of any sort of activity is required even if it’s below 1%
Securities Lending
Not permitted
Short selling
Not permitted
Crossing Restrictions
Same NIN crossing through the same broker is not permitted
Timeline for New NIN Setup
One business day
Failing Trades
Sales (same for short selling)
If a sell trade, same for short selling, does not match by 3:00 PM (local time) on T+1, it will be subject to a mandatory buy-in on T+2 during the official buy-in session (from 9:30 till 9:35 local time).
* Buy-in session
- The buy-in session has no price ceiling
- If any sell offer is available, the buyer is obliged to accept it to complete the buy-in
- cannot re-trade for same end client NIN in the buy-in session
* The client will bear the loss (paid by local broker then claimed from the client):
- A 10% penalty on the gross trade value
- All applicable market and clearing fees: Market and local broker fees charged on the failed trades and a market commission of 1 JOD per print.
- Any price difference resulting from the buy-in, any realized gains, including cash dividends, securities dividends, or other rights arising from the buy-in process, are retained by the market.

Purchases
If a buy trade fails to settle , it will remain in failing status until the broker takes action, either by:
- Completing the settlement, or Cancelling the trade in the market. Local broker will bear All applicable market and clearing fees & Any price difference resulted from the cancellation and then claimed from client
- Interest charges apply from T+3 onwards until the trade is resolved, (9% PA charged by the local broker)
MARKET FEES & TAXES
Market Fees 14 bps
(breakdown available)
Withholding Tax None
Capital Gain Tax None
Dividend Tax None
Trading Tax 8 bps