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Muscat Securities Market

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Muscat Securities Market

Muscat Securities Market
Type Stock Exchange
Location Muscat, Oman, Sultanate of Oman
Founded 1988
Key people Ahmed S. Al Marhoon Director General
Currency OMR
No. of listings 116 companies (2011)
Market cap US$ 20,239.74 million(2010)
Volume 3,024.49 million Securities Traded (2010)
Indices MSM 30
Website msm.gov.om
Muscat Securities Market

The Muscat Securities Market (MSM, }

}}: سوق مسقط للأوراق المالية ‎) is the only

Market classification

The regular market has strict listing requirements. For listing on this market, companies must have a solid record of profitability.

The parallel market has relatively fewer requirements, and is therefore easier for companies to list on, especially the newly established ones. The third market consists of companies that are facing financial difficulties.

Market sectors

MSM listed companies are from three sectors: Financial, Industrial and Services.

Legislative structure

From its inception, Muscat Securities Market has issued instructions and regulations as required to ensure that it attains its objectives and performs its duties and responsibilities with the utmost efficiency and fairness, and in conformity with technical platform of the new electronic trading system, with intensive working on solid infrastructure enabling trading through the Internet.

MSM-30 index

Muscat Securities Market Index was established in 1992, and the base date was June 1990. The number of companies included in the index sample has changed overtime to reach currently 30 companies, the most liquid in the market.

The main objectives of the MSM 30 are to represent the price movement of the listed shares objectively and to be a benchmark for individual and institutional investors which guides them through their investment processes. To achieve these objectives, the MSM 30 has the following features:

1. Freely available shares for trading are included only. Any shares which fall under the following will be excluded: Founders (exclusion ends when the company issues two balance sheets for two consecutive financial years); Government holdings; Strategic holdings (10% or more); Locked-in shares, which are not tradable for at least 3 months.

2. A 10% capping (CAP) is set to ensure wider representation of smaller companies in the index.

3. The free float and capping has been revised (re-set) on a quarterly basis. The revision is conducted quarterly, by end of March, June, September and December. The index sample amendment, on the other hand, takes place in the beginning of July of each year. The sample is selected based on the applicable selection criteria (market capitalization, liquidity, and earnings per share). The MSM 30 index contains three-sub indices representing the three sectors (Banking & Investment, Industry & Services, and Insurance).

Technology

Muscat Securities Market outdoor ticker.

In the area of information technology, the Market finalized the procedures with regard to the replacement of the present trading system, which has been operating since 1998, with a more efficient system from Atos Euronext France, which is a very sophisticated system used in many developed markets. The new system ensures provision of the data and information immediately for the supervisory authorities, to enable them activating the regulatory role in trading. The new system broadcasts the trading data immediately to all users and enables the market to add many investment instruments in the future and to make an easy link with the other stock markets in the GCC and other countries. The new system is also expected to make the information dissemination more efficient.

Certification

ISO 9001:2008

Muscat Securities Market has been awarded ISO 9001:2008 certification for "Trading of Securities"

Muscat securities Market has been awarded ISO 27001:2005 certification for "INFORMATION SECURITY MANAGEMENT SYSTEM".

Hours

Normal trading sessions are from 10:00 to 13:00 every day except Fridays, Saturdays and official holidays.

See also

External links

  • Muscat Securities Market
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