The CEO of Tehran Stock Exchange Technology Management Company said that a domestically-developed trading system is expected to make debut by the end of this fiscal year in March. However "the system initially will be utilized for a limited section of the market".
"The technical infrastructure for the system is in place and it is ready for launch…the locally-developed trading system will be ready come March 2024," Rouhollah Dehghan was quoted as saying by IRNA.
Some procedures regarding the contracts are currently underway at the stock exchange organization, "These steps are vital before the new system becomes fully operational," Dehghan said.
"The indigenized system will be used for a limited section of the market due to some potential risks and transfer of the entire market to the new system will be in phases”.
According to Dehghan it is highly likely that fixed-income securities and ETF funds will be shifted to the new system in the early stages "but this depends on the decisions of officials in the capital market."
If the operational phase is successful, stock trade also will be transferred to the native trading system in due course," the official added.
Regarding the ability of the current system to handle the increase in trading volume, he said: "In light of developments of the past three years in the trading system, it is capable of handling the current market capacity without hurdles”.
"The current trading volume is within the limits of the year 2021. However, it has been operating without any disruption," he added.
Dehghan indicated that his company has plans for expanding the capacity of the trading system to be able meet demand. "After a specific volume of transactions is logged, modifications will be necessary to ensure that trade continues without interruption."
Dehghan concluded by stating that the development plans for the trading system are in tandem with market growth, and the system can and will handle transactions in bigger volumes.
