SEO changes regulations on trading codes for new shareholders

February 29, 2020 - 17:12

TEHRAN- Iran’s Securities and Exchange Organization (SEO) has set new regulations for issuance of trading codes for the new shareholders in the country’s stock market, ISNA reported on Saturday.

Based on an announcement by the SEO, the new applicants can conduct trade one month after receiving their trading codes and they are required to pass an exam given by Securities and Exchange Brokers Association (SEBA) or SEO during the one-month time, while they are also committed to avoid signal selling and some other actions, and if they do so, their codes will be blocked.

As decided by SEBA, the applicants are required to take the mentioned exam in person or virtually, and it is in line with elevating the knowledge of shareholders.

Iranian stock market consists of four major exchanges namely Tehran Stock Exchange (TSE), Iran’s over-the-counter (OTC) market known as Iran Fara Bourse (IFB), Iran Mercantile Exchange (IME), and Iran Energy Exchange (IRENEX).

The number of trading codes issued at Tehran Stock Exchange rose 128 percent in the past Iranian calendar year (ended on March 20, 2019) compared to its previous year, according to the TSE Head Ali Sahraei.

The official has said that some 327,000 trading codes have been issued at the TSE during the past year.

MA/MA

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