EFG HERMES Trading Guide

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 – 12:30
		Close		12:30
	Third Market	Pre-opening session		09:45 – 09:50
		Continuous Trading		09:50 – 10:15
		Close		10:15
	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	Summer	GMT+3		Trading Days	Sunday – Thursday
	Winter	GMT+2
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	$23.9 bn

Average Daily Value Traded

Year	AVG VALUE TRADED
2022	$10.8mn
2023	$8.3mn

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: 12:30 – 12:45 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: subject to a buy-in on T+2 in the Buy-in session if trade fails to settle by 3:00pm (local time) on T+1

Purchases: Trades stay in failing status till an action is taken by the broker, either by trade settlement or by trade cancellation in the market
Failing Purchase orders are subjected to interest claim from T+3 onwards

Short selling Penalty: 10% of gross amount of the trade + markets fees + any price differences

MARKET FEES & TAXES

Market Fees	14 bps (breakdown available)
Withholding Tax	None
Capital Gain Tax	None
Dividend Tax	None
Trading Tax	8 bps