TEHRAN: Iran Mercantile Exchange (IME) has exceeded in trade for the first time at Tehran’s Stock Exchange (TSE).
According to a report out of the USD37 billion trade in Iran’s capital market in the first 11 months of the current Persian calendar year (started March 21), some USD14.5 billion were made on the IME, which is almost half a billion dollars more than the volume of exchange at the TSE.
Report said the figure amounted to 40% of the total trade (USD37 billion) in Iran’s capital market in the same period.
It added that over 60% of the buys and sells on the commodity market included physical trading and the rest were done via derivatives trading.
Data shows over USD7 billion of the total transactions occurred in the Over-the-counter (OTC) trading, while less than a billion dollars was made in Iran Energy Exchange.
Iran’s Mercantile Exchange (IME) was set up in the capital city in 2006, and trades in agricultural, industrial and petrochemical products in the spot and futures markets.
IME is the largest and highest value commodity market in Middle East and is registered with the Association of Futures Markets (AFM) and the Federation of Euro-Asian Stock Exchanges (FEAS), which is a non-profit international organization comprising of the main stock exchanges in Eastern Europe, the Middle East and Central Asia.
