Managing Director of Iran Mercantile Exchange (IME) Hossein Panahain announced that the IME plans to be one of the major price makers in the region, including Central-Asia, Middle-East and Caucasus.
We inaugurated the IME's Mashhad branch office in April, and now we are opening the IME's 4th branch in Anzali Free Trade Zone (AFTZ) ” said Panahian, addressing the inauguration ceremony of the IME's branch in the AFTZ which border Central-Asian and Caucasus countries and Russia through the Caspian Sea.
He further underlined the vital importance of quality products which are offered in the IME's trading and export floors, and announced that the IME is resolved to utilize its international trade experiences to be one of the most important source of price making in the region.
In February, a senior official at the IME underlined that the country's high-quality products, specially in the oil and petrochemical sectors, have turned the country, particularly the IME, to one of the most reliable price makers worldwide.
Acting Deputy Managing Director of the IME Mehrzad Namdari said, “Due to the high capacities and relative advantages of our country in the production of some commodities, including oil-related and petrochemical products, it was a long time that producers were craving for Iran to play an effective role in becoming a price maker of petroleum products in the international markets. The dream was realized by publishing of Iranian bitumen prices traded in the IME trading system in the international data vending websites.”
The IME 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. The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.
Various sectors of economy and national industry benefit from the exchange operation. The IME currently offers various services, including:
Performing as the first market providing access to the initial offering of the listed commodities in the IME,
Price discovery and price making for Iran's Over the Counter (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,
Training and education of the market participants.