Electronic trading in the Damascus Securities Exchange contributes to attracting investors

Damascus-SANA

The electronic trading service enables clients to trade in securities by entering buy and sell orders into the Damascus Securities Exchange trading system themselves, through a special electronic platform.

Chairman of the Board of Directors of “Alpha Capital” for financial services Elias Shaheen Bin told SANA that Alfa is the first company to provide electronic trading service in the Damascus market and the latest electronic trading is a qualitative leap in the concept of trading in the market and comes in line with the government’s orientation for the digital transformation project in Syria.

Shaheen pointed to the increasing demand for the use of electronic trading, especially among customers who follow and deal in the market periodically, as it provides Syrian expatriates with an opportunity to trade from abroad in accordance with the regulations and controls established by the Securities Commission easily and easily, and this trading depends on it in the next stage in attracting capital to some expatriates Syrians wishing to invest in the Damascus market and encourage Arab and foreign companies to enter the Syrian market.

Shaheen pointed out that the culture of electronic trading needs time to expand and spread, as is the case at the beginning of the spread of other banking and financial services, and today, after years, this culture has become essential in financial work and helps to expand the customer base, which contributes to increasing the volume of trading in the Damascus Securities Exchange.

And between Shaheen, the most important advantages of electronic trading are the harmony with digital transformation, in addition to the safety factor when using the application, real-time access to the market situation, the most important data and data related to traded stocks and the latest news related to them, so that the investor can make the right investment decision, in addition to flexibility and ease of entering, modifying or canceling orders. Immediate follow-up without the need for an intermediary and speed in processing requests without the need for human intervention at any stage, but the role of the human cadre is limited to addressing any problems that may occur with the customer, such as communication interruption or repeated entry of the process, and low costs are one of the most prominent advantages.

Shaheen referred to the controls established by the Damascus Securities Exchange and the Syrian Financial Markets and Securities Authority, which protect the savings of dealers from speculation and reduce potential risks when investing in the market, pointing to the difficulties faced by financial services and brokerage companies by working to increase the number of joint stock companies listed in the Damascus market. And finding an easy mechanism for transferring funds from abroad to open investor accounts under the conditions of the siege, with strict controls and the need to issue decisions and facilities that attract foreign investors, especially with regard to transferring funds and obtaining profits, noting that the number of companies listed in the market today is very few, only 27 companies, considering that the timing Very suitable for investing in stocks.

It is worth noting that Alpha Capital is a private joint stock brokerage and financial services company, headquartered in Damascus Governorate, with a paid-up capital of 300 million Syrian pounds.