TEHRAN (Iran News) – Managing Director of Iran MercantileExchange (IME) Hamed Soltaninejad, referring to setting a new record for offering commodities on IME, said the value of the commodities traded on IME stood at about 350,000b tomans last year.

Speaking in the inaugural ceremony for launching gold investment fund futures and trade of cement in the physical market, Soltaninejad said today IME is a festivity for the launch of trade of a commodity which has been anticipated for long.

He went on to say that currently one is witnessing a growing trend on the IME through the assistance of all pillars of the capital market, and added the value of trade of commodities last year was about 350,000b tomans and it set a new record for tonnage of products comparing to the activities of the total IME activities in the past years.

Soltaninejad noted that last year, IME saw the trade of 33.4m tons of commodities worth of 312,000b tomans on its physical ring which was an unprecedented figure in the total history of activities of the IME.

He said major part of this success is indebted to the efforts of all pillars of capital markets, adding that we had never seen a discipline before in offering the regulating market products on the IME and for this reason we see the growth in trade on the IME and capital market.

Touching upon this year’s growth of trade on IME, he said in the first quarter of the Iranian calendar year, IME has seen the growth of trade in a way that on last Wednesday, some 10.6m tons of commodities was traded on the IME which indicates the growth of trade in this market.

He said the increase in the trade on the IME indicates the support of all pillars of the capital market from not commanding the pricing and trade of commodities on the IME scene.

Soltaninejad went on to say that the IME has seen some new records in offering industrial and mineral products in a way that it had never seen such an amount of growth in the past.

He added that to diversify services for activists in the financial market, the IME has completed the infrastructures for futures contacts of the investment fund for gold which the trade of this tool will kick off this year.

Gold coin deposit certificate is a tool wherein people deposit their gold coins in the banks and trade them in the capital market under a framework provided by the IME.