His Excellency Dr. Hassan Abu Lebdeh, Chairman of the Board and Chief Executive Officer of the Palestine Securities Exchange (PSE) announced today the official launch of “e-trading” (the buying and selling of PSE stocks via the Internet) in the Palestinian Capital Market effective Tuesday, April 24, 2007. His Excellency Dr. Abu Libdeh stated that the inauguration of e-trade in
is expected to attract new investors to the PSE from abroad. The e-trading system is expected to greatly reduce the impediments to trading on the PSE which existed for foreign investors.
His Excellency Dr. Abu Libdeh stated that e-trade is the latest step in continuing trend of progress and service improvements for PSE investors. The PSE team has worked diligently to ready the internal and external technical support systems to ensure 100% secure online trading activity. According to Dr. Abu Libdeh, “The PSE provided all necessary technical support for the introduction of e-trading systems to our capital market. We have thoroughly examined and tested the safety and security of the e-trading software”.
He further stated that the PSE intends to launch a 2-month marketing campaign to publicize the PSE’s e-trade initiative, with the assistance of Ramallah-based Zoom Advertising, a public relations and advertising firm which will work with the PSE to actively promote the value of e-trade to Palestinian investors and investors abroad.
Prior to its announcement, the PSE completed a comprehensive testing phase of the e-trade online software with a target group of PSE clients. The PSE ran the online trading software on its own web site using preliminary test transactions to assure the security and efficiency of the system. Now that the system has been fully tested by the PSE as a regulatory body, Dr. Abu Libdeh urges member brokers of the PSE to launch e-trade services for their clients as quickly as possible.
E-trading is widely used by investors in most foreign financial markets and on other stock exchanges in the Arab World.