AMMAN - Prime Minister and Minister of Defence Omar Razzaz has decided to resume trading in the Amman Stock Exchange (ASE) as of Sunday.

The decision comes in line with the government’s decision allowing all economic sectors to resume work as of Wednesday, after discussions with stakeholders and upon a recommendation from the Board of Commissioners of the Jordan Securities Commission, the Jordan News Agency, Petra, reported.

The prime minister has approved identifying the trading rules that will be applied upon resuming activities at the ASE, including lowering the continuous trading time to one hour, Petra reported.

The daily percentage of increase and decrease allowed for trading and signing deals has been set at 2.5 per cent for all securities traded at the ASE. The prime minister also agreed to amend margin financing regulations in order to give the brokerage firms enough flexibility to deal with their margin financing clients.

These new regulations include lowering the minimum rate for the maintenance margin to 10 per cent instead of 15 per cent for the first and second markets and lowering the minimum level of the initial margin percentage to 25 per cent instead of 50 per cent.

To pump more liquidity in the financial market, the ceiling of margin financing has been adjusted to reach 200 per cent of the net intellectual property up from 150 per cent, Petra added.

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