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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.
On Sunday, August 14, 2022, commodities traded on IME weight 812,422 tonnes.
On Saturday, August 13, 2022, the IME witnessed trade of 303,000 tonnes of iron ore pellets and 86,500 tonnes of sponge iron on its metals and minerals trading floor.
Within the week ending on August 12, 2022, the IME witnessed trade of 1,974,403 tonnes of commodities with a total trading value of almost 377 million USD on its physical market.
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Monday, August 15, 2022 18:55
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Head Office and Trading Floor Address:No.351, Taleghani Ave., Tehran, Iran Zip Code: 1593649313 Phone: +98 21 8564 1022 - 1028 -1029 Fax: +98 21 88383000 E-mail: international@ime.co.ir
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