Damascus-SANA
Damascus Securities Exchange, in cooperation with Alpha Capital Financial Services Company, launched today the electronic trading service for the first time in Syria through its digital application “Alpha Capital” to keep pace with the digital transformation process, at the market’s headquarters in Damascus.
The electronic trading service is a qualitative leap, according to a market press release, due to the characteristics and features that it enjoys from the ease of dealing that investors will witness while using the application and by enabling customers to enter buy and sell orders to the market through the trading system, follow the market movement in real time, view the movement of shares and the ability to monitor A specific share or group of shares and follow-up of the client's portfolio with utmost confidentiality and security, and will also increase the number of transactions and trading volumes and reach the largest segment of investors.
In a statement to reporters, Finance Minister Dr. Kinan Yaghi explained that the electronic trading service has been working on for more than a year and is considered a qualitative leap in the work of the market and the mechanism of stock investment and the transformation of order management and sending them from a traditional paper-based mechanism to an electronic mechanism on a mobile application or on the “website”.
In a similar statement, the Chairman of the Securities and Markets Authority, Dr. Abed Fadliah, confirmed that the electronic trading service is followed in many countries of the world and constitutes a qualitative step that facilitates the trading process, speeds it up and increases its volume, and allows the savers with hoards who are in their homes to trade with ease and wherever they are.
For his part, Dr. Abdul Razzaq Qassem, director of the Damascus Securities Exchange, indicated that electronic trading will increase the possibility of collecting savings that are outside the framework of banks and the economy, considering that the introduction of electronic trading would encourage the establishment of more public shareholding companies.
For his part, Chairman of the Board of Directors of Alpha Capital Elias Shaheen explained that electronic trading is part of the digital transformation and is faster than traditional trading and shortens the time period for executing a single request to become a part of a second, which allows the investor to seize investment opportunities quickly, pointing to the adoption of the latest technology in relation to services Provided to be fast and at the same time honest and high protection for the investor.
Fadi Jalilati, Vice Chairman of the Board of Directors of the Damascus Stock Exchange, said in a statement to a representative of SANA that a system has been established to control trading in the market in order to examine the order entered by the investor and its fulfillment of all legal conditions and according to the instructions and regulations. Intervention from the broker and it must be linked with the brokerage company because the financial settlement of buying and selling operations is done through brokerage companies.
The financial analyst, Dr. Muti’ Abu Marra, explained that the brokerage company’s role today has become to secure the necessary infrastructure and a transit channel to the Damascus market. This application has provided access to a wide range of investors regardless of their geographical location. In return, it has provided an investment opportunity for the investor who has small savings to increase and become large investments. .
Nour Youssef