By Mahnaz Abdi

First-ever achievements of Iran stock market

April 2, 2018

The Iranian stock market has witnessed some first-ever successful experiences in the current Iranian calendar year, ending March 20, both in national and international transactions and also in terms of science and training.

On September 10, 2017, the country’s first-ever data vending deal was signed between Iran Financial Center (IFC) and Greece’s Inforex S.A. 

Based on the deal, which was signed by Inforex Managing Director Eleni Pateropoulou and IFC Managing Director Ali Naqavi in Tehran Stock Exchange (TSE) headquarters, IFC will provide Inforex with data about Iranian companies listed on the exchanges for a period of two years and the Greek company is committed to offer them to the foreigners interested in making investment in Iran.

Signing such deal is in line with Iran’s Securities and Exchange Organization (SEO)’s objective of attracting more foreign investors to the country’s capital market, as SEO Head Shapour Mohammadi has mentioned it one of the main goals of his organization.

The other first-ever fruitful experience of stock market was holding Tehran’s League of Stock Market Stars. It was a one-month competition started on July 24, 2017 between 10 teams from renowned universities of Tehran aiming at promotion of stock science and development of entrepreneurship in the country.

The same month, a noticeable achievement came for Iran Mercantile Exchange (IME). It was the first offering of wheat at guaranteed price in IME instead of the guaranteed purchase of the grain by the government. In this way the financial burden on the government is reduced noticeably and this method brings more satisfaction for the farmers as they receive the payment sooner. It also creates transparency in the trades; while offering the products based on the specified standards in the IME leads to promotion of their quality.

And for Iran’s over-the-counter (OTC) market, known also as Iran Fara Bourse (IFB), on February 19, for the first time, some Islamic Treasury Bills (short-term securities based on Islamic principles) were offered to public in IFB on behalf of the Iranian government.

Now, it comes to Iran Energy Exchange (IRENEX) which has witnessed trading of 50 new products including some petrochemicals in this year. 

Besides such first-ever achievements in the Iranian stock market, the rising trend of foreign investors’ presence in this market in the current calendar year comes under the spotlight. 

This trend, which began after the implementation of Iran’s nuclear deal, known as Joint Comprehensive Plan of Action (JCPOA) which lifted the West-led sanctions against the country in January 2016, is planned to accelerate more and more, as SEO head has said that his organization is pursuing attraction of more foreign investors to the country’s stock market as one of its main goals.
 

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