Beirut Stock Exchange
| Beirut Stock Exchange | |
|---|---|
| legal form | Private |
| founding | 1920 |
| Seat |
Beirut , Lebanon
|
| Website | www.bse.com.lb |
The Beirut Stock Exchange (BSE) is Lebanon's main stock exchange . It is located in Beirut and is chaired by a committee composed of a chairman, a vice-chairman and eight members appointed by decree of the Council of Ministers on the proposal of the Minister of Finance. All BSE members are Lebanese Public Limited Companies (SAL) with a capital greater than £ 500,000 Lebanese and are registered with the Secretariat of the Commercial Register in Lebanon. Members also include holding companies and offshore companies.
history
The Beirut Stock Exchange is the second oldest stock exchange in the region and was founded in 1920 by a decree of the French commissioner. Trading at the time was focused on gold and foreign exchange transactions. However, there was an influx of French, Syrian and local Lebanese investment in the 1930s that allowed the BSE to flourish, particularly through the creation of mixed Lebanese-French public companies that were simultaneously listed on the Paris and Beirut stock exchanges. Activity increased in the 1950s and 1960s, with various banking, industrial and service companies trading and 50 publicly traded bonds.
Trading ceased in 1983 during the Lebanese Civil War . After 11 years, a new administrative committee (in collaboration with the Bourse de Paris ) has restructured the BSE with a new internal statute and streamlined the mechanisms and trading systems. A new automated brokerage system has been introduced based on the fixed price instead of the traditional OTC voice brokers. On November 22nd, 1996 the BSE officially resumed trading in its hall. BSE and Bourse de Paris signed a cooperation agreement in June 1999 and the new European system NSC-UNIX-Euronext was introduced. In 2000, new types of securities such as GDR (Global Depository Receipt), mutual fund shares, preferred stocks and other tradable derivatives were listed. At the end of 2006, the BSE introduced a new remote trading system that allows brokers to trade "remotely" in securities listed on the BSE from their own offices.
Individual evidence
- ^ Will Kenton: Beirut Stock Exchange (BSE). Retrieved December 23, 2019 .
- ↑ Beirut Stock Exchange | The BSE | History. Retrieved December 23, 2019 .