TEHRAN- Ali Naqavi was selected as the new managing director of Iran Energy Exchange (IRENEX), IRNA reported.

Naqavi replaced Ali Hosseini, the second managing director of IRENEX, who served in the post for eight years.

Enjoying 15 years of activity in Iran’s capital market, Naqavi was previously the deputy managing director of Iran Energy Exchange for the executive affairs.

IRENEX is one of the four major stock exchanges of Iran. The other three exchanges are the Tehran Stock Exchange (TSE), Iran’s over-the-counter (OTC) market, known also as Iran Fara Bourse (IFB), and Iran Mercantile Exchange (IME).

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