Iran Mercantile Exchange, Indonesian counterpart to boost mutual cooperation

Iran Mercantile Exchange (IME) and Indonesia Commodity and Derivatives Exchange (ICDX) Wednesday signed several memoranda of understanding to reinvigorate their bilateral ties in various arenas.

Managing Director of the IME Hamed Soltaninejad and his Indonesian counterpart Megain Widjaja in a meeting in Tehran inked several memoranda of understanding and vowed to do their best to create a mechanism for long-term cooperation by developing channels of communication to foster the continuing relationship between the parties for the benefit of the respective financial services industries in both Iran and Indonesia and also to assist in the maintenance of orderly financial markets in each country.

The IME was established on September 20, 2007 in accordance with article 95 of the new la 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.

EA