FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT JUNE 2013
IRAN MERCANTILE EXCHANGE
IME in 2013 once again achieved colorful
operating results by 60% increase in value
and 20% rise in volume of transactions.
Hossein Panahian
Managing Director
It gives me a great pleasure to introduce Iran
Mercantile Exchange as the leading commodity
exchange based on the value of commodity
physical and futures contracts traded. The
demutualized exchange gets credentials from
the Ministry of Finance of Iran and acting under
auspices of the Securities and Exchange
Organization of Iran in compliance to the rules
and regulations of the Iranian capital market.
Being a self-regulated entity IME offers trading
in over 180 commodities in the form of spot
and futures contracts from a diverse range of
asset classes including metal and mineral, oil-
related and petrochemical as well as agriculture
products. A majority of these commodities are
significant in the Iranian and global context and
are also traded on international exchanges.
To brief you on our performance I’m privileged
to report that IME in 2013 once again achieved
colorful operating results by 60% increase in
value and 20% rise in volume of transactions.
We managed to continue growth in terms of
developing exchange infrastructures both in
trading technology and human resource. Our
team worked resiliently amid restrictions and
uncertainties in the international commodity
market to deliver benefit for our stakeholders.
We engineered our business model to provide
Mission Statement
Iran Mercantile Exchange being as the
foundation for competitive economic orientation
assigned to implement transition from traditional
market to efficient, organized and self-regulated
trading venue is trying it’s best effort, in order to
realize the economic causes stated within The
Constitution, to render unmatched services to
the commodity supply chain across the country
via promotion of the information technology
infrastructure, development of new financial
tools, employing specialized human resource,
efficient management, raising awareness and
institutionalizing knowledge base practices.
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new opportunities and trading instruments in
our markets while maintaining the incumbent
running system. functionality. In addition, IME has had an inter-
sector positive effect for different industries in
macroeconomic scale.
Last year we prepared the ground for developing
new products to our market and we are focusing
on diversifying our markets in order to meet
the wide range of our customers’ needs. In our
metals and minerals market, we managed to list
5 products to reach the total value of the market
by 10%. Also in our petrochemical market new
listings led to significant rise in volume and
value of this market. In agriculture, IME and
government are setting new market infrastructure
for price discovery and trading of grains and
cereals to deal a boost to agriculture sector of
the country. Last year IME managed to expand
its role as a global price reference in terms of
some key products like bitumen, iron ore and
steel products. We are quoted right now by
Argus, ICIS, Metal bulletin and Steel First. The
exchange is set to maintain relations with media
worldwide. In terms of role in the national economy, we
have managed to contribute significantly to
production and manufacturing sector through
financing facilities in the form of SALAF
contract. The exchange has been successful
to eliminate special privileges, providing fair
and equal access for all customers and end-
users to exchange markets. A diversified range
of stakeholders benefit from the exchange
operation through hedging and risk mitigation
opportunities provided by the exchange to
capital and commodity market participants.
In terms of transparency and prices we, at
IME, have tried our best endeavor to provide
maximum transparency through competition
based on supply and demand resulting in sound
price discovery which is core to the exchange
Our financial, trading, and information
dissemination services provides the ground
for market safety and surety, promotion of
standards and maximization of transparency in
transactions.
We are committed to render maximum best
market-wise risk management services to the
benefit of all market participants to ensure
stakeholders’ growing benefit. Verily, such
efforts yield in development of the financial and
commodity market throughout the region and
growing influential role of IME as a commodity
price reference based on trust, confidentiality
and information transparency.
We hope through interaction and cooperation
with international capital market entities and
our exchange counterparts around the globe to
develop into a full-fledged exchange market by
adopting brand-new practices in compliance
with the national and internationals rules
and regulation to pave the ground to exhibit
a pioneering market venue addressing all
investment needs of the its clients in and out of
the country.
Vision
In order to play its part in the capital market
and in line with the twenty-year vision
plan of the Islamic Republic of Iran, Iran
Mercantile Exchange, relying on organized
corporate systems, employing diversified
financial technologies and instruments and
risk management has put on the agenda
diversification in underlying assets and markets,
setting new standards, transparency and easing
, promotion of social status, and to become
reference in traded prices for the local and
international beneficiaries ushering in evolving
into a world class exchange.