The Amman Stock Exchange (ASE) on Sunday launched an updated version of its electronic trading system, Optiq, as part of its ongoing efforts to advance digital transformation and upgrade its technological infrastructure and electronic systems in line with international best practices and standards adopted by financial markets.
The launch also comes as part of the ASE’s efforts to support the objectives of Jordan’s Economic Modernization Vision and implement projects outlined in its strategy to strengthen the market’s readiness to keep pace with rapid developments in financial market technology and enhance the reliability and operational performance of the national capital market’s trading environment.
ASE Executive Director Mazen Al-Wazifi said the updated system includes a range of technical and functional features designed to improve the efficiency of trading operations and the quality of services provided to investors and exchange members, in line with efforts to continuously modernize the market and adopt advanced technological solutions that support its competitiveness and development.
Al-Wazifi added that the Amman Stock Exchange has also begun implementing a new mechanism for determining the closing prices of securities, based on an auction during the pre-closing phase.
The mechanism allows broader participation by market participants in determining the closing prices of traded securities, helping promote fairer and more efficient pricing, enhance transparency and reduce the possibility of influencing closing prices.
He explained that the indicative equilibrium price calculated during the pre-closing phase will be adopted as the security’s closing price if the opening of the security directly results in executed trading volume of at least JD1,000.
If the trading volume executed at that price does not reach the required minimum, the indicative price will not be adopted as the closing price for that day.
Instead, the closing price will be the security’s last traded price during the continuous trading session, or its previous closing price if the security was not traded.
Al-Wazifi also commended the efforts of all relevant parties and institutions that contributed to the testing and technical trials conducted ahead of the launch.
These efforts helped complete the necessary technical and operational requirements and ensure the system was fully prepared to operate efficiently and reliably.
He reaffirmed that the Amman Stock Exchange will continue implementing its development plans, upgrading its technological infrastructure and electronic services, and keeping pace with the latest developments in financial market technology.
These efforts aim to enhance services for investors and market participants and further establish the Amman Stock Exchange as a modern financial institution capable of keeping pace with the rapid digital and technological transformation taking place in global financial markets.
