Iran Mercantile Exchange monthly trade reaches $744mln

TEHRAN (FNA)- The Iran Mercantile Exchange (IME) announced that around $744mln of various commodities weighting over 1,606,000 tons were traded in its domestic trading and exports halls in October.

The IME said that 1,065,000 tons of various commodities with the total worth of $468mln were traded in its oil and petrochemical trading halls in last month.

512,000 tons of different products worth approximately $261mln were traded in the IME metals and minerals trading hall, the IME added.

The IME said that 274,000 tons of agricultural products with $14mln worth were sold in its agricultural trading hall in October.

357,000 tons of bitumen, 61,000 tons of insulation, 5,000 tons of sulfur, 110,000 tons of iron ore were traded in the IME in the last month.

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

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.

By Fars News Agency