Amman Stock Exchange

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Amman Stock Exchange

Name Amman Stock Exchange (ASE)
Country Jordan
Number of listed companies 167
Domestic market capitalization 24668.55 million US$
SSE Partner Exchange Yes
Has annual sustainability report Yes

ASE started to issue the sustainability from the year 2020 as integrated into the annual report:

2020

2021

ESG reporting required as a listing rule Yes

ASE has mandatory sustainability reporting as a listing rule for companies listed on ASE20. (source)

See also article 9.4 from the Listing Securities Directives.

Has written guidance on ESG reporting Yes

In 2022, ASE published a guidance on ESG

Offers ESG related training Yes

In 2021, ASE held training for companies listed on the ASE20 index, and held a roundtable for CEOs and Chairpersons on sustainability.

In 2022, ASE launched the Corporate Climate Disclosure Initiative with IFC. More details can also be found here.

In 2023, ASE participated in an event entitle “DEMYSTIFYING ESG: What regulated companies and their advisors need to Know”

Market covered by sustainability-related index No
Has sustainability bond listing segment No
Has SME listing platform No
Women on boards mandatory minimum rule No
Additional information
  • Hosted 3rd annual “Ringing Bell for Gender Equality Stock Exchange Initiative” in March 2017, in cooperation with the IFC, to celebrate Women’s International Day.
  • The exchange launched two sustainability brochures in 2018: Sustainability 1 focuses on Sustainable Development and the UN’s Sustainable Development Goals, with information for companies on sustainability reporting and sustainable business practices. Sustainability 2 dives deeper into sustainability reports and reporting frameworks.
Organizational model of stock exchange
  • A for profit public shareholding company completely owned by the government.
Regulatory bodies
  • The ASE is governed by a seven-member board of directors appointed by the council of ministers and full-time chief executive officer. The ASE is supervised by the Jordan Securities Commission (JSC).
Regulatory model
Limited Exchange Self-Regulatory Organization (SRO) Model

  • The Amman Stock Exchange is able to administer and implement its own rules, however the Jordan Securities Commission oversees the activities and rule making of the exchange itself. Thus, although the exchange does indeed possess this self-regulatory ability, the ultimate decision falls upon the Jordan Securities Commission. Because of the level of supervision implemented upon the exchange by the Jordan Securities Commission, the exchange is classified as a ‘Limited Exchange Self-Regulatory Organization (SRO) Model’.
About the stock exchange
Location: Amman, Jordan

  • The Amman Stock Exchange (ASE) was established in March 1999 as a non-profit independent institution; authorized to function as a regulated market for trading securities in Jordan. On February 20th 2017, the ASE has been registered as a public shareholding company completely owned by the government under the name “The Amman Stock Exchange Company (ASE Company).” The ASE Company shall be the legal and factual successor to the ASE. The ASE Company is governed by a seven-member board of directors appointed by the Council of Ministers and a full time chief executive officer oversees day-to-day responsibilities. The ASE Company aims to operate, manage and develop the operations and activities of securities, commodities, and derivatives markets inside and outside Jordan. The ASE membership is comprised of Jordan’s 59 brokerage firms. (Source).

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.

Field

Criteria Considered
Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.