FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
TEHRAN STOCK EXCHANGE
xxxxx
Dr. Ali Rahmani
Managing Director
Based on the Securities Market Law, ratified in
2005, and in order to found an orderly self
regulated market for trading the securities both
by brokers and traders, Tehran Stock
Exchange Corporation (TSE) was established
on 6 December 2006. The shareholders are
categorized into three main groups of
brokerage companies, financial institutes and
retail investors – legal and natural persons.
During the past two years of its operation, the
newly demutualised the TSE has made great
efforts in launching the necessary entities for
market development. The TSE appropriately
benefits the available cooperation grounds
with other participants in the Iranian capital
market to thrive the securities market so that it
might fulfill its principal ideal, which is
increasing the share of the capital market in
financing business activities and creating
value for the direct and indirect stakeholders.
FUTURE OUTLOOK
• Installing of the new trading software, Atos
Euronext
• Upholding the privatization plan through
state-owned corporations' IPOs
• Providing shorter settlement cycles and book
entry settlement systems to meet the current
international standards of securities markets
It has been highly endeavored to achieve a
transparent, fair and efficient market. Listed
companies' reporting improvement, increasing
stock price daily fluctuation and training
courses have contributed market efficiency
and pricing, which considerably lowered the
concerns among market participants. Besides,
in the current year (i.e. 2008), a new listing
directive at the TSE was designed and ratified
to increase the listing quality. To list the state-
owned companies, including issuers in
privatization plan, joint workgroups were
formed, which in conclusion, detected the
problems of share offering to the private
sector. Quality and quantity of disseminated
information in this year significantly improved.
Securities and Exchange Organization (SEO)
followed fundamental measures, such as
launching Issuer's Information Network
(Codal), training the senior financial directors
and on-time receiving of information to
improve the Corporations' Reporting System.
The TSE has also introduced two projects:
Investors' Relationship System and Corporate
Governance System.
• Providing diverse securities of high quality to
raise funds (new products; e.g. Sukuk)
• Preparing arrangements to provide new
calculation methods for indices
• Planning to set up Iran Financial Center
(I.F.C)
CONTACT INFORMATION
Contact Name Mr. M. E. Jahandoost
E-mail [email protected]
Website www.tse.ir
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