Amman, Aug. 23 (Petra) — The Amman Stock Exchange (ASE) launched
Sunday an updated version of its Optiq electronic trading system as
part of its ongoing efforts to advance digital transformation and
upgrade its technological infrastructure and electronic systems in
line with global best practices and standards adopted by financial
markets.

The launch is part of the ASE’s efforts to support the Economic
Modernization Vision’s objectives and implement projects outlined in
its strategy to enhance the market’s readiness to keep pace with
rapid developments in financial market technology and improve the
reliability and operational performance of the trading environment in
Jordan’s capital market.

ASE Chief Executive Officer Mazen Wathaifi said the updated 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. He said the upgrades are consistent
with efforts to pursue continuous modernization and adopt advanced
technological solutions that support the market’s competitiveness and
development.

Wathaifi added that the ASE has begun implementing an updated
mechanism for determining the closing price of securities, based on
an auction mechanism during the pre-closing phase. The mechanism
allows broader participation by market participants in determining
closing prices, contributing to fairer and more efficient pricing,
greater transparency, and reduced potential for 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 security’s opening results directly in executed trading volume
of at least JD1,000 ($1,410).

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. Instead, the closing price will be the security’s last traded
price during the continuous trading session, or its previous closing
price if it was not traded.

Wathaifi praised the efforts of all relevant parties and entities
that contributed to the testing and technical trials preceding the
launch, saying their work helped complete the technical and
operational requirements and ensure the system was ready to operate
efficiently and reliably.

He stressed that the ASE will continue implementing its development
plans and upgrading its technological systems 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 capable of keeping pace with digital transformation and
rapid technological advances in global financial markets.

//Petra// AF