FEAS Yearbook FEAS Yearbook 2017 | Page 34

Iran Mercantile Exchange

Federation of Euro-Asian Stock Exchanges

Mr. Hamed Soltaninejad

Managing Director of Iran Mercantile Exchange

About Iran Mercantile Exchange

Established: 2007

Chairman: Mr. Mansour Yazdizadeh

Managing Director: Mr. Hamed Soltaninejad

Address: No.351, Taleghani Ave., Tehran, Iran

Email: [email protected]

Website: www.ime.co.ir

Organization Overview

Iran Mercantile Exchange was established on September 20, 2007 in accordance with article 95 of the new law of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran.

Services to the Market

Various sectors of economy and national industry benefit from the exchange operation. The scope of the services is as under:

• Performing as the first market providing access to the initial offering of the listed commodities

• Price discovery and price making for the OTC, secondary markets and the end users

• Providing venue for government sales and procurement purchases

• Providing Trading platform and user interface

• Providing Clearing & Settlement services

• Risk management

• Technology services

• Training and education of the market participants

Products

Various products and commodities are listed and traded in IME which are categorized in three classifications:

• Industrial Products & Commodities

• Gold

• Oil Products and Petrochemicals

• Agricultural

• Multi-Commodity

• Gold Coin Futures

Members

There are 70 listed brokerage companies in IME who are the members of the exchange licensed by the market regulator, the Securities and Exchange Organization. The brokers are authorized to trade on behalf of the clients and settle and clear the contracts for them.

Offerings and Orders

Offerings are the commodities in the spot market are announced and notified 24 hours, before the trading takes place, through the exchange website. So, the sellers and clients would be able to place their orders with the brokers and rest assured for trading to be matched and cleared.

In the derivatives market the clients order their trades as per specifications of the futures contract and in accordance to the order types specified in terms of order validity and the price. Around 55 brokerage firms are licensed to trade futures for their clients. At the same time there 4 consecutive contract months issued for the investors.

Trading Floors

1. Local Trading Floor

Place: Tehran

Trading Groups: Metals and Mines, Oil and Petrochemical, Agricultural Products, Futures Gold

2. Export Trading Floor

Export Trading Floor:

Place: Kish Island (Persian Gulf)

Trading Groups

• Metals and Mines

• Oil and Petrochemical,

• Agricultural Products

Trading Groups:

International Presence

Iran Mercantile Exchange has planned to develop its activities and complex trading system via strengthening its international presence in Middle East markets, which are one of the hot spots in the financial markets and within world-class exchanges. Regarding this fact, here is a list of developing activities:

- Full member of AFM (Association of Futures Markets) since 2007

- Signing MoU with Belarusian Universal Commodity Exchange (BUCE) in 2012

- Signing MoU with Kazakhstan Exchange (BEREKET) in 2012

- Holding on site training courses for FEAS

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