Business And Markets

IME Futures Trade at $570m in 11 Months

IME Futures Trade at  $570m in 11 Months
IME Futures Trade at  $570m in 11 Months

The derivatives market of the Iran Mercantile Exchange hosted deals worth 150 trillion rials ($576 million) in the first 11 months of the current fiscal to Feb. 19.
Deals included 6.1 million futures and underlying assets, namely farm products (saffron, pistachio, cumin…) plus copper, silver and gold.
A futures contract is a standardized, legal agreement to buy or sell an asset at a predetermined price at a specified time in the future. 
At the specified date, the buyer must purchase the asset and the seller must sell at the agreed-upon price, regardless of the current market price before the contract expires. 
Underlying assets for futures contracts can be commodities – such as crude oil, agricultural products or other financial instruments.  


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