Updated : 28 Day , 5 Hour , 11 Minutes ago
Publishe Date: 3:08 PM - 11/8/2014 | Print

Iran Mercantile Exchange to Host Int'l Exchange Union's 2nd Annual Meeting

Economy - The Iran Mercantile Exchange (IME) is preparing to host the 2nd annual meeting of the Interexchange Electronic Union (IEU) of CIS and Eastern Europe next week, IME's Managing Director Hossein Panahian announced.

Panahian said the meeting will be held in Tehran on November 15-16.

The IEU is an international Union which attempts to connect CIS (Commonwealth of Independent States, a regional organization whose participating countries are former Soviet Republics) and Eastern Europe commodity exchanges. The IEU has requested the membership of the IME in the union.

Panahian went on to say that the IME will follow the issue of joining the IEU in the Tehran forum, adding professional and expert-level discussions will be held in the two-day meeting too.

The IEU includes Commodity Exchange of Armenia (Yercomex), Belarusian Universal Commodity Exchange (BUCE), Kazakhstan Commodity Exchanges ICEX and CEX, Kyrgyzstan Commodity Exchange (KUCEX), Ukraine Commodity Exchange (UCEX) and Agricultural commodity Exchange of Ukraine and two commodity distribution systems from Armenia and Belarus.

Interexchange Electronic Union is a non-commercial electronic union by the participation of exchanges as legal entities and acts in an electronic infrastructure.

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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