Top officials from the Iranian capital market are set to officially launch the long-awaited pilot post-trade portal on October 26.
“The portal has been developed based on lessons learnt from developed countries using up-to-date technology,” Hamed Soltaninezhad, managing director of Central Securities Depository of Iran said, as reported by SENA
In capital markets, those entities dealing with clearing, settling and registering have large number of clients as they are the official authorities for maintaining the markets’ information, he said. “On the other hand, clearing and settling are important activities dealt with by depository and registration companies. All above requires the relevant infrastructure to be set up based on modern technology.”
“In the meantime, security is of paramount importance and the portal should be able to communicate easily with various services. Today, storing information on CD or other communication tools are considered old-fashioned and new means for instance FIX protocol or ISO 15022 are used by the companies,” Soltaninezhad asserted.
The portal has become available to several brokerage firms since October 7. It will be accessible for the public as of the beginning of the next Iranian year (March 21, 2015). Until then, the developers intend to further complete the services based on the feedback received from sample users.
