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CEO of IME at Iran Capital Market’s International Conference:

Establishing a Joint Trading Platform between World Commodity Exchanges is One of IME’s Goals

CEO of IME at the international conference on "The Capital Market of Iran, More Diversification, High Returns", which hosted more than 50 foreign guests from 17 countries in Kish, considered the direct import and export of goods through the IME’s platform as one of IME’s most important goals and plans to pursuit.
International Affairs and PR
Establishing a Joint Trading Platform between World Commodity Exchanges is One of IME’s Goals

According to the report by the IME’s International Affairs and PR, during his speech at the conference, Hamed Soltaninejad pointed to the IME’s international activities and said: exports and imports of commodities through the IME’s platform will reduce the transaction costs and hedge commodity markets in the international arena.

Referring to the IME’s vision as “Developing IME’s activities to enhance the country's trading with international markets”, Soltaninejad stated that we are seeking to create‎ joint trading platforms with our foreign so that we are making efforts to list the brokerages associated with these commodity exchanges in the IME.

Regarding the establishment of a joint trading platform, CEO of IME said one of the measures taken in this area is establishing the joint trading infrastructure between IME and NeML, which is the spot trading wing of the NCDEX of India. Moreover, IME is creating direct export processes with Pakistan Mercantile Exchange (PMEX).

He added that the IME is also attempting to create‎ joint derivative markets with other countries including India on bitumen, because of Iran’s competitive advantage in hedging this commodity. In addition, one of our plans is to constitute a joint derivative market on foreign currencies, in particular the Indian Rupee and the South Korean Won.

He said that to implement this program we can list international traders directly on IME. As of this moment, about 400 foreign traders have membership in IME, which we can be greatly increased, leading to better price discovery. In this regard, IME is trying to cooperate with global banks to facilitate money transfer for a foreign trader trading on this platform and also to prevent money laundering.

He pointed out listing warehouses beyond borders of Iran and in free zones to achieve export objectives, designing a model for issuing transportation coupon (vouchers) to facilitate delivery, establishing an international marketing platform and attracting foreign customers and building communication infrastructure with regional exchanges are among the IME’s other programs in the field of international trade.

The CEO of IME focused on the overall structure of the exchange and said that Iran Mercantile Exchange has four financial, derivative, physical and side markets in which in addition to agricultural, oil and petrochemical, and metal and mineral products in the form of cash, credit, forward contracts, ETFs, CDRs, standard parallel SALAM contracts, futures and options contracts, forfaiting and premium discovery are also the IME’s instruments.

Pointing to the economic statistics that IME’s trade value accounts for 6.5% of the GDP of the country; he added that IME has constructed its trading mechanisms based on international standards, providing a great opportunity for foreign investors to enter the Iranian market.

IME in the First Six Months of the Year

He pointed to the increase in the IME’s trade volume and value since 2007 and said this positive trend represents an effective and efficient relationship between the financial markets and the economy of the country. In terms of securities trading, trading in this market is also showing growing trends.

Soltaninejad referred to the statistics of IME and noted: In the first six months of the year 1396 hijri, the total trade value increased by 4% compared to the same period last year and reached more than 367,000 billion Rials.

ID: 50058464

Published on: Tuesday, October 31, 2017 16:00

Source: IME

View count: 7

Thursday, November 23, 2017 05:25

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