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Steps to Issue Trading Codes

Steps to Issue Trading Accounts

The Process of Issuance of Trading Accounts

1. The general transaction accounts shall be issued by the admission official, and the specific transaction accounts of the product category and the product shall be issued by the Committee.

2. Issuance of General Transaction Accounts:, Within 24 hours at the most from the broker's submission of complete documents of the customer, the  admission official shall be required to issue the general transaction account for the customer or inform the broker of inadequacy of the documents produced.

3. Issuance of Specific Transaction Accounts for Products and Product Categories: Within at most 15 days from the broker's submission of customer's documents, the secretary to the Committee shall be required to provide the Committee with his expert report comprising his opinion on satisfaction or dissatisfaction of the conditions for granting the specific transaction account of the product or product category along with the respective documents.

4. Within at most 15 days from receipt of the respective report and documents, the Committee shall be required to inform the applicant of its written opinion along with the reasons for granting the specific transaction accounts of the product or product category; and where the application is rejected, the customer may inform the exchange of his objection within at most 10 days from the date at which  the Committee's decision is disclosed to him.

5. Results of decisions and considerations of the Committee vis-à-vis each of the cases referred to shall be set out expressly in body of the minutes. Records and documents of the Committee's minutes shall be retained and, if necessary, provided to the authorities concerned.

6. All Iranian and foreign businesses and corporations may deal products at the exchange and hereby receive transaction accounts.

7. The Committee shall hereby be required to identify the former customers of the exchange who have received transaction accounts. The customers who are contacted under this paragraph shall submit the required documents to the exchange within 3 months at most; otherwise, the Committee may deactivate their accounts.

8. Director of ICT Department of the exchange shall be required to predict some measures for retention and maintenance of the documents relating to identification of the exchange customers. He shall further impose some limitations on the transaction system of the exchange under this Instruction or as required by the Committee.

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Trading 0 kg of Gold Bullion on IME

Happened on Monday

Trading 0 kg of Gold Bullion on IME

On Monday, August 19, 2019, the metal and mineral trading floor of Iran Mercantile Exchange played host to trading of 20 kg of gold bullion.

Offering 78 thousand tonnes of Polymer Products on Monday

Offering 78 thousand tonnes of Polymer Products on Monday

On Monday, August 19, 2019, the oil and petrochemical trading floor of Iran Mercantile Exchange will play host to offering of 78,775 MT polymer products.

IME to Trade Steel, Copper, Aluminum and Gold Bar

IME to Trade Steel, Copper, Aluminum and Gold Bar

IME's mineral and industrial trading floor witnessed on Sunday, August 18, 2019, trade of 27,000 tonnes of steel bloom, 1,474 tonnes of rebar basket, 44 tonnes of rebar, 1,560 tonnes of copper cathode, 1,000 tonnes of low grade copper, 220 tonnes of aluminum, 1 kg of gold bar and 120 tonnes of molybdenum sulfur.

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Thursday, August 22, 2019 22:09

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