Future contracts in the Iran Mercantile Exchange (IME) had a 135% growth respect to a year ago, says the CEO of IME.
The CEO of Iran Mercantile Exchange (IME), Hamed Soltani Nejad, presented a report on the performance of this company concurrently with the opening of the Tenth Exhibition of Bourse, Bank and Insurance, Iran FINEX 2017, in Tehran.
In total, the IME markets were worth 817 trillion IRR ($25bn) in the last Iranian fiscal year, 1395 (March 2016-17), where half of the trades were future contracts.
According to Mr Soltani Nejad, in 1395, the record for future contracts was broken and their value reached 390 trillion IRR ($12bn).
Trade of industrial and mining goods constitutes 42% of the value of Iran Mercantile Exchange’s market, followed by petrochemical products with 31%, oil products with 19% and agricultural products with 8%.
The largest growth of trades in the IME was in the agricultural sector which showed a 200% growth compared to the previous year, 1394 (March2015-16).
Mr Soltani Nejad pointed to the MoUs signed with the mercantile exchanges of Pakistan, the Republic of China (Taiwan) and Indonesia and said: “Our plans are to further develop the future exchange market in different sectors and opening a currency futures market. Furthermore, the exportation of goods to neighboring countries via the IME are among our most important plans this year.”
“Warehouse reception abroad, offering dates and sugar as well as offering a housing index on the IME are among our other plans this year. Since establishing gold investment funds are a sure way to prevent volatility and fluctuations in the gold market, the IME is seriously seeking to offer such funds”, concluded he.
