The Securities and Exchange Organization has approved applications for setting up 14 new market making funds.
Market makers are broker-dealer firms that accept the risk of holding a certain number of shares of a particular security in order to facilitate trading in that security.
The funds are now undergoing administrative procedures before being established, a SEO official said Saturday.
"SEO has received 14 requests from investment companies and holdings to establish funds," Ayyoub Bagher-Tabar said, adding that "each fund will cover certain stocks in the market."
SEO has listed the approved funds as follows: Parsian Development for Parsian Holding, Ghadir for Ghadir Investment Company, Eghtesad Novin for Eghtesad Novin Bank, Parsian for Parsian Bank, Tejarat for Tejarat Bank, Bahman for Bahman Group, MAPNA for MAPNA group, Keshavarzi for Bank Keshavarzi, Omid for Golgohar Co., Saman for Saman Bank, Hekmat for Hekmat Iranian Bank, Taban for Sepahan Oil Co., Pasargad for Pasargad Oil Co., and Banking Fund to cover stocks of a number of other banks.
Caption: Banks and corporations have their requests approved for setting up market making funds.
