The Stock Exchange Crisis In Algeria: Legal Impediments On Stock Trading.

Abstract

The study highlighted the importance of investing in the stock market for Algeria, especially amidst the developments in digital trading and trading platforms in this sector.

The success of a global securities exchange relies on an efficient legal system that facilitates capital mobilization. In this context, simplified legal procedures are crucial to attract investors and ensure confidence in the issuance market. Unfortunately, the Algerian securities exchange faces challenges due to its cumbersome and rigid legal framework, affecting various stages from initial trading to company entry. The organized structures, including the Stock Exchange Management Company and the Central Custodian, appear to prioritize neither speed nor efficiency in stock trading. Furthermore, these entities are subject to the Stock Exchange Operations Regulation and Monitoring Committee, which, despite extensive powers, struggles to act independently. The legal shortcomings are evident, contributing to the exchange's failure to fulfill its expected role and causing significant issues with traded stocks.