Steps to Issue Trading Accounts

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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 Steel, Aluminum, Zinc, Lead and Copper Offered on Iran Mercantile Exchange

On Monday in IME

Steel, Aluminum, Zinc, Lead and Copper Offered on Iran Mercantile Exchange

The IME's mineral and industrial trading floor witnessed on Monday, November 30, 2020, offering of 5,850 tonnes of galvanized steel sheets, 8,600 tonnes of aluminum ingots and 500 tonnes of aluminum billets, 2,290 tonnes of zing ingots, 200 tonnes of lead ingots, 45,100 tonnes of zing dust, 11,000 tonnes of low grade copper, 12 tonnes of precious metals concentrate and 120 tonnes of molybdenum sulfur.

IME Traded Nearly 775 Million Dollar of commodities in Month of Aban

Monthly report of Trades in Aban (22 October to 20 November)

IME Traded Nearly 775 Million Dollar of commodities in Month of Aban

Within the month of Aban the Iran Mercantile Exchange sold 1,918,000 tonnes of various commodities worth nearly 775 million dollars on its spot market.

IME Traded 504,000 Tonnes of Commodities

Weekly Report

IME Traded 504,000 Tonnes of Commodities

Within the week starting on 21st of November and ending on 25th of November, the IME played host to trade of 504,759 tonnes of commodities worth more than 47,000 billion rials.

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Tuesday, December 1, 2020 06:18

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