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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 more than 575 thousand tonnes of Various Commodities on IME

Happened over Last Week of May

Trading more than 575 thousand tonnes of Various Commodities on IME

During weekdays ending up to May 31, approximately 575,213 MT of commodities worth over 339.5 million USD were traded in Iran Mercantile Exchange.

Farmers to Cover Risks of Saffron Price Volatilities/ Foreigners will Trade Saffron Futures

Soltaninejad in Inauguration Ceremony of Saffron Futures Trades

Farmers to Cover Risks of Saffron Price Volatilities/ Foreigners will Trade Saffron Futures

Iran Mercantile Exchange held the opening ceremony for saffron futures trades in the presence of Mohammad Reza Pour Ebrahimi, head of economic commission in Iran's parliament, Ali Akbar Mehrfard, deputy minister of Agriculture Jihad, Shapour Mohammadi, chairman of securities and exchange organization of Iran.

The Parliament Supports IME’s Financial Instruments

Pour Ebrahimi at Ceremony of Launching Saffron Futures

The Parliament Supports IME’s Financial Instruments

At the ceremony of launching the Saffron future contracts in Iran Mercantile Exchange, the Chairman of Iranian Parliament Economic Commission pointed to transparency, increasing efficiency, optimal allocation of resources and fair pricing through the channel of capital market and IME.

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Monday, June 25, 2018 01:33

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