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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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A Growth of 50 percent in IME’s Trading Volume

Happened over Second Week of December

A Growth of 50 percent in IME’s Trading Volume

During weekdays ending up to December 13, while, 313,311 MT of commodities worth over 309.5 million USD were traded on Iran Mercantile Exchange, the trading volume and value experienced a growth of 50 and 35 percent, respectively.

Offering over 46 thousand tonnes of Oil and Petrochemical Products

Offering over 46 thousand tonnes of Oil and Petrochemical Products

On Saturday, December 15, 2018, the oil and petrochemical trading floor of Iran Mercantile Exchange will play host to offering of 46,551 MT of chemical products, polymer products, bitumen, sulfur and VB feed stock.

Offering over 112,000 MT of Steel Sheets by Mobarakeh Steel Company

Offering over 112,000 MT of Steel Sheets by Mobarakeh Steel Company

On Wednesday, December 12, 2018, the metal and mineral trading floor of Iran Mercantile Exchange will play host to offering of 112,100 MT of various types of steel sheets by Mobarakeh Steel Company.

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Saturday, December 15, 2018 14:38

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