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Based on an earlier entitlement released on September of last year 2015 and within the annual review conducted by the Group, The Financial Times Financial Indicators group (FTSE Indices) has upgraded Palestine Exchange from the list of markets on the "Watch List" to a Frontier Market status effective from 19/09/2016.
Commenting on this, the CEO of the PEX Mr. Ahmad Aweidah stressed out that this upgrade was expected particularly in light of the recent review conducted by the group in September of last year 2015. The PEX won a frontier status as a result of the efforts within the international adopted parameters or those adopted by the FTSE group for markets classification. This is a new development as a step towards the being global and the clear vision of the PEX in order to position itself on the international investment map.
As for the companies listed on the PEX and their inclusion on the FTSE indices, Mr. Ahmad Aweidah considered that the upgrade of the stock market to a Frontier Market will open the path for it to go through that particular stage, especially that it is committed to all the required standards of disclosure and corporate governance, laws and regulations and its activities in the field of relations investors.