IFX, the main index of Iran’s over-the-counter (OTC) market, also known as Iran Fara Bourse (IFB), increased by 62 points, reaching 3,832 on the same day.

Some 949 million securities worth 7.83 trillion rials (about $69.9 million) were traded through 171,000 deals.

The supplied liquidity for stock firms participating in the stock market and the increase in forex rates which has led into increase of the revenues of exports companies active in the stock market besides the recession in other domestic markets including housing, gold and and forex market stand among the main reasons for the boom in the stock market.

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The first market’s index fell 4,127 points while the second market’s index dropped 8,338 points.
Also, IFX, the main index of Iran’s over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), fell 95 points to stand at 2,494 points on Sunday.

Some 1.295 billion shares worth 5.83 trillion rials (about $35.5 million) were traded at IFB.

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As reported, IFX touched a new record high in the past year, as it gained more than 100% to stand at 2,258 points on March 19, 2019.

The number and worth of trades at IFB increased 89 percent and 71 percent, respectively, in the past year compared to its preceding year.

Monthly average value of trades at the First and Second markets of Iran Fara Bourse amounted to 287.622 billion rials (about $6.8 million) and worth of trades at the Base Market accounted for 170.418 billion rials (about $4.05 million). This year total volume of trades at the First, Second and Base markets (i.e. IFB stock market) reached 165,586 million shares; all witnessed an increase of 75 percent-191 percent.

Meanwhile, as Shapour Mohammadi, the head of Iran’s Securities and Exchange Organization (SEO), has previously announced the value of trades at Tehran Stock Exchange (TSE) and IFB rose 80 percent during the past year.

Making the remarks in the inaugural ceremony of 12th International Exhibition of Exchange, Banks and Insurance of Iran (IRAN FINEX 2019), which was held at Tehran Permanent International Fairgrounds last week, the official referred to 80 percent growth of financing in the country’s capital market during the past year, and noted that it indicates the good status of this market.

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Referring to 80 percent growth of financing in the country’s capital market during the past year, the official also noted that it indicates the good status of this market.

IRAN FINEX is the most prestigious event concentrating on finance industries in Iran. It is the most important event in this field in the region that brings together all the companies operating in the financial sector under the same roof.

In this edition of the four-day exhibition, the latest achievements of banking industry, insurance, and capital market is being showcased.

Vice-President for Science and Technology Sorena Sattari, Finance and Economic Affairs Minister Farhad Dejpasand, Head of Central Insurance of Iran Gholamreza Soleimani, and Central Bank of Iran (CBI) Deputy Governor Akbar Komeijani attended the inaugural ceremony of the exhibit.

Mohammadi said this exhibition is not just limited to the capital market, while it is considered an important event in the country’s financial market.

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IFX, the main index of Iran’s over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), increased by 44 points reaching 2,496 on the same day.

Some 1.9 billion securities worth 6.55 trillion rials (about $155.9 million) were traded through 163,000 deals.

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Futures contracts (more colloquially, futures) are financial contracts obligating the buyer to purchase an asset or the seller to sell an asset at a predetermined future date and price.
The ceremony to launch the futures contract, which was held at the place of Central Securities Depository of Iran (CSDI), was participated by a number of Iranian capital market official including Iran Securities and Exchange Organization (SEO) Head Shapour Mohammadi and TSE Head Ali Sahraei.

CSDI is the sole registrar, central custodian and clearing house for the Iranian financial market of four exchanges including TSE, Iran’s over-the-counter (OTC) market known also as Iran Fara Bourse (IFB), Iran Mercantile Exchange (IME), and Iran Energy Exchange (IEE).

Addressing the Sunday ceremony, TSE Head Ali Sahraei said that futures contract is one of the risk management tools (also called hedging tools) which is today becoming operational at the TSE.

He said: “Jurisprudence Committee of the SEO [which oversees compliance of capital market instruments with sharia rules] has approved the regulations related to the futures and we hope that it will act as a highly-applied derivative for hedging in the capital market.”

“Today we launch futures for seven indexes mainly in vehicles, banking, base metals, minerals, refined products and petrochemicals sectors”, Sahraei further announced.

‘Futures highly significant for market balance’

Addressing the same ceremony, SEO Head Shapour Mohammadi said that futures are some very important instruments for the market balance, while they are also some strong hedging tools.

They provide investment opportunities for those who are seeking the amount of profit more than they can earn in the normal market deals, the official noted.

He further highlighted the significance of taking the advantage of new financial instruments to grab the opportunities for market arbitrage (purchasing and selling the same security at the same time in different markets to take advantage of a price difference between the two separate markets).

He also announced that launching short-selling and warrant by the end of the current Iranian calendar year (March 20, 2019), Iran’s basket of capital market’s classic instruments will be complete, “while we are already complete in terms of Islamic financial instruments including sukuk.”

Elsewhere in his remarks, Mohammadi referred to the noticeable growth in the number of financial entities in the country and said, “We will have 650 financial entities by the end of current [Iranian] year that can strengthen all these instruments.”

‘A turning point in developing new financial instruments’

Mahmoud-Reza Khajehnasiri, a board member of SEO, was the other speaker in the ceremony, who said that the speed of launching and operating the new instruments in the stock market of country indicates the proper group work behind it which is a turning point in development of new financial instruments.

He believes that the new financial instruments will empower the capital market and fill many gaps. “Enjoying these instruments and specialized financial entities we will bring wealth and profit”, he stressed.

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