Publishe Date: 3:20 PM - 10/11/2014 | Print

Iran Mercantile Exchange Exports over $62mln of Bitumen in One Day

Economy - Iranian companies sold over 120,000 tons of various grades of Bitumen with the total value of $62mln to the foreign customers of Iran Mercantile Exchange (IME) in a working day earlier this week.

105,300 tons of bitumen produced in the Jay Oil Refining Company and 14,150 tons of the same material produced in other companies were purchased by the foreign firms which preferred to supply their demands from the IME's export hall.

The IME was established on September 20, 2007 in accordance with article 95 of the new law of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran. The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.

Various sectors of economy and national industry benefit from the exchange operation. The IME currently offers various services, including:

Performing as the first market providing access to the initial offering of the listed commodities in the IME,

Price discovery and price making for Iran's Over the Counter (OTC), secondary markets and the end users,

Providing venue for government sales and procurement purchases,

Providing Trading platform and user interface,

Providing Clearing & Settlement services,

Risk management,

Technology services,

Training and education of the market participants.

 

Tags: Economy -
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