Capital Markets

The Damascus Securities Exchange (DSE) was started on March 2009 following the Presidential Decree no. 55 (Stock Exchange Act) issued on January 10, 2006 to establish a securities trading market. The decree aims to facilitate the investment of financial resources and channels to secure the capital required to expand economical activities by implementing an appropriate trading environment for the trading of securities.

Membership in the DSE is mandatory for Financial Intermediary Companies licensed by the Syrian Commission on Financial Markets and Securities (SCFMS) to provide financial intermediary services on the Exchange, as well as for Joint Stock companies approved for listing on the Exchange.

In 2011, the DSE includes 21 listed stocks within 5 sectors, namely the banking, agricultural, industrial, services and insurance sectors, totaling a market capitalization of around SYP 100 billion.

  • Trading, clearing and settlement

Trading currently takes place at the DSE Sundays through Thursdays from 10:30 a.m. to 1:15 p.m. but this window is set to increase as the market develops. Trading in equities will be carried out by continuous auction whereas exchange in equities will be order-driven and the governmental bonds market will be quote-driven. Margin trading, future contracts and short selling are forbidden in the exchange for now.

All trading activities are conducted on a central trading floor in Damascus and remote order entries from brokers’ offices are also available.

Settlement will take place on T+2, the Exchange will use the Central Bank of Syria as the single settlement bank through which all brokers will be required to settle the net position of their transactions.

  • Audi Capital Syria Ltd.

Operating under the umbrella of the successful and proven record of its mother company, Bank Audi Syria sa, and with a capital investment of SYP 270 million, Audi Capital Syria Ltd. is fully equipped to serve the thriving economic growth of the Syrian financial market at present and into the future.

In anticipation of the growing activities of the Syrian Exchange Market and the strength of the Syrian economy, Audi Capital Syria Ltd. has assembled its full resource potential and plans to develop and expand its network of products and services in equal harmony with the local, regional and international developments. To date, the company has initiated a series of business lines addressing the critical needs of the Bank’s institutional and private clients, namely: Investment Management, Consulting, Brokerage and IPO Management.

With a solid scope of services geared for the advancing roles of corporations, public and private, local and multinational, the objectives of Audi Capital Syria Ltd. will be to join the Bank’s vision with that of its clients to develop the interests of small, medium and large enterprises, and ensure their quality.

(Go to "Audi Estishari" page)

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