IRENEX Plans Petroleum Futures

Iran Energy Exchange is to launch futures contracts for  petroleum products in near future, the IRENEX chief said. 
“The Securities and Exchange Organization approved the guidelines last week to launch the futures contracts via IRENEX,” Ali Naqavi was quoted as saying by IRNA. 
Addressing the press Naqavi said the technical infrastructure is in place in coordination with Central Securities Depository of Iran, the clearing house of Iran’s capital market, and the Tehran Securities Exchange Technology Management Company. 
“The trading platform is in pilot phase and we hope to launch the first oil-based futures contracts before September,” he said.