Economy, Business And Markets

Trading Codes Exceed 7.7m

Trading Codes Exceed 7.7m
Trading Codes Exceed 7.7m

The number of trading codes, by November 24 this year, at Iran’s equity market reached 7,760,000 – up 14.5% compared to the same day last year with 6,776,341 trading codes, said an official at Central Securities Depository of Iran (CSD).

Motahareh Moravej told the Securities and Exchange news agency that among the active codes, 5,660,233 codes have been registered for individuals, adding that there are currently 1,617,652 female traders versus 4,042,581 male traders.

The official added that 29,319 codes have so far been registered for legal entities and shareholders, while 278 foreign traders have been given trading codes.

There are 4,470 ticker symbols in the country’s equity market, while the energy exchange has 3,712 ticker symbols.

Hassan Ghalibaf-Asl, an official with the Tehran Stock Exchange (TSE), said in November that more foreign investors are entering the equity market despite financial restrictions imposed by western sanctions.

He said the TSE receives an average of three applications from foreign investors for trading codes every week.

Since 2012, the United States and the European Union banned financial transactions with Iranian banks over a nuclear dispute with Tehran.

 Despite the financial restrictions, the number of active traders at the TSE has risen, as the high dividend shares at the Iranian equity market are highly sought-after by international investors.

According to the TSE, foreign traders own more than 1 percent of total floating shares at the stock exchange.