The Amman Stock Exchange (ASE) launched an upgraded version of its electronic trading system, Optiq, on Sunday 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 global financial markets.
The launch is part of the exchange’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 country’s capital market trading environment.
ASE Chief Executive Officer Mazen Al-Wazifi said the upgraded version includes a range of technical and functional features designed to improve trading efficiency 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 ASE has begun implementing an updated mechanism for determining the closing price of securities. The mechanism uses an auction during the pre-closing phase, allowing broader participation by market participants in determining closing prices, enhancing pricing fairness and efficiency, increasing transparency and reducing the potential for manipulation of 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 security opens directly with a trading volume of at least JD1,000. If the executed volume at that price does not reach the required minimum, the price will not be adopted as the closing price for that day.
In such cases, the closing price will be the security’s last traded price during the continuous trading session, or its previous closing price if no trading takes place.
Al-Wazifi praised the efforts of all relevant parties and institutions that contributed to the testing and technical trial phases ahead of the launch, helping complete the technical and operational requirements and ensuring the system was ready to operate efficiently and reliably.
He stressed that the ASE will continue implementing its development plans and upgrading its technological infrastructure and electronic services to keep pace with the latest developments in financial market technology, improve services for investors and market participants, and strengthen the exchange’s position as a modern financial institution aligned with the digital transformation and rapid technological advances taking place in global financial markets.
