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What is the Palestine Exchange PEX?
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Following an initiative by the Palestine for Development and Investment Company (PADICO), the Palestine Exchange (PEX) was established as a self-regulating private shareholding company. The PEX was fully automated upon establishment- a first amongst the Arab Stock Exchanges. It became a public shareholding company in February 2010 responding to principles of transparency and good governance. The PEX operates under the supervision of the Palestinian Capital Market Authority.
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When was the PEX established and why?
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Palestine Exchange (PEX) was established in 1995 to promote investment in Palestine. The operation agreement was signed with the Ministry of Finance at the end of 1996. The PEX held the first trading session on 18 February 1997. It was the first Arab exchange to automate all of its operations; including: trading, depositing, securities exchange and other information systems/applied programs.
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What does the PEX seek to accomplish?
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It seeks to be a model for Arab and regional financial markets through providing innovative services, proposing investment opportunities in the capital market, attracting investment, the use of state of the art technology, compliance to the rules of corporate governance and establishing constructive relations with Arab, regional and global markets.
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What kind of mission does the PEX hope to achieve?
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To provide a fair, transparent and efficient market for trading securities that serves investors, protects their interests, contributes to creating an enabling environment that attracts local and foreign investments, and interacts with local and Arab relevant institutions in a manner that serves the national economy and enhances the culture of investment in financial markets.
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What are the objectives of the Palestine Exchange PEX?
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The PEX aims to:
1. provide a safe and enabling trading environment characterized by efficiency, fairness and transparency
2. increase the investment awareness of the local community
3. enhance PEX relations with local, Arab and international economic institutions and forums
4. develop domestic investments and attract Palestinian Diaspora & foreign capital,
5. increase the depth of the exchange by continuously listing new companies and providing new and diverse financial tools and services
6. create a proficient working environment within the PEX by investing in human capital, and maintaining an up-to-date technologies of stock markets.
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How does the Palestine Exchange strive to achieve its objectives?
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The Palestine Exchange provides trading systems, control, settlement, transfer and ownership-transfer of securities in such a way that guarantees efficiency and accuracy in completing buying and selling transactions. It also facilitates in finding out fair prices through enhancing factors of supply and demand. The PEX is committed to putting good trading codes into practice and delivering information to assure fairness among all securities traders, regardless of their relative geographical regulations, so that all investors have equal exposure to gains and losses.
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Which government department controls the work of the PEX?
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In 2005, with the development of the legal structure of the securities sector in Palestine, particularly the issuance of the Securities Law No. (12) of 2004 and the Capital Market Authority Law No. (13) of 2004, the Palestine Capital Market Authority (CMA) took over the responsibility of supervising the PEX and issuing securities by the public shareholding companies.
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