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Chief Executive Officer of Iran Mercantile Exchange:

FINEX, an Opportunity to Enhance Knowledge of Finance

Elaborating on IME's plans for the Hijri year 1396 in the 10th international exhibition of exchange, bank and insurance, CEO of IME called the exhibition a platform to increase level of financial knowledge and an introductory encounter for market participants with the capital, market.
IME International Affairs & PR
FINEX, an Opportunity to Enhance Knowledge of Finance

Mineral and industrial markets' indices experienced a 22% growth in 1395 Hijri compared to those of 1394; Hamed Soltaninejad was quoted as saying by IME international affairs and PR.

Comparing agricultural trading value and volume of 1395 with 1394, IME witnessed 197% and 229% of growth respectively, he continued.

 Pointing to the 34% growth of petrochemical products he said that IME took some ameliorative measures including launching long-term contracts, helping downstream industries to buy products and also eliminating volatility. He added that the slump in world oil prices has led to lower trading values, yet an upturn in trading volume.

 Soltaninejad continued that during 1395 Hijri year –compared to the year before that – IME's spot market rose by 10% in trading volume and 25% in trading value. These figures were 89% and 134% for IME's futures trades over the same period. He also pointed out the 500 billion IRR worth of option trades and the 91% and 134% growth of IME's derivatives market in trading volume and value respectively. The same trend was true also for Standard Parallel Salam contacts - a financial tool on IME to raise funds for producers - with 163% and 669% of growth in trading volume and value respectively. IME provided various industries with 157,000 billion IRR of finances through this financial instrument. Industrial and mineral section received the lion share: 74 %, with petrochemical and agricultural sections taking second and third places.  

 He reiterated that IME's total market experienced a 26% increase in trading volume and 73% in trading value in the last Hijri fiscal year as compared to the year before that. He added that IME market value of commodity-based securities is 446,000 billion IRR accounting for 55% of IME's total market value .IME's spot market  shares are divided between mineral and industrial trading floor, petrochemical trading floor, oil products and agricultural trading floor with 42%, 31% 19% and 8% respectively.

IME's market trend the CEO added was upward CDR (certificate of depositary receipt) trades with an 82% of growth in trading value for maize and 15% for barley. He insisted on the fact that IME has no other choice but to have a strong and efficient market in both spot and derivative trades if it is to become the price reference in the region; a goal which entails price discovery mechanisms to be managed via CDRs.

 As to IME's plans for 1396 Hijri, Soltaninejad said that IME is about to launch options trades on commodities like maize and barley. Among other initiatives to be taken in 1396 will be online options trades, futures bitumen trades, trade of CDRs on industrial and petrochemical products, trade of forwards and swaps on commodities, setting up a tender trades board, designing housing index and developing the infrastructure needed for assessment of clients, designing a model for issuing transportation tickets and setting up a strategy-oriented mechanism for collateral in options trades.

ID: 50057288

Published on: Tuesday, April 18, 2017 14:00

Source: IME

View count: 21

Saturday, August 19, 2017 12:52

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