The ASE Issues a Circular to its Members Regarding the Resumption of Trading Tomorrow, Sunday 10/5/2020

The CEO of the Amman Stock Exchange (ASE), Mazen Wathaifi, issued a circular to the members of the ASE, in which he clarified the procedures related to the trading session decided by the ASE Board of Directors to resume trading on Sunday 10/5/2020.

The daily percentage of allowed price limits for trading and block trades for all securities traded will be 2.5% of the reference price, taking into account that the minimum tick size of 0.01 JD (one Piaster) will be the allowed price limits for instruments, in case of the calculated limits were lower than the above-mentioned tick size. The trading hours will be as follows:

Mr. Wathaifi asked members to take into account the procedures and decisions taken by the Jordan Securities Commission (JSC), aimed to provide brokerage firms with adequate flexibility in dealing with their margin clients in a way that would not affect the shares prices. These procedures include the reduction of maintenance and the initial margins, and the ease of certain restrictions related to the permitted financing ceilings related to the broker's net equity, which are indicated in the press release issued by the JSC in this regard.

The CEO of the ASE also referred to the restrictions that the JSC has relaxed on companies wishing to purchase shares issued by them (treasury shares), according to the press release issued by the JSC in this regard. He also indicated that the ASE will cancel valid live selling and buying orders in the morning of Sunday, May 10, by virtue of Article (13/a/6) of the Directives of Trading in Securities.

Mr. Wathaifi emphasized the necessity of compliance with public safety procedures and social distancing instructions.