IME Listed on Fara Bourse

Iran Mercantile Exchange was listed on the over-the-counter exchange Iran Fara Bourse on Sunday. Head of IFB Amir Hamouni and IME chief, Hamed Soltani-Nejad, attended the inaugural ceremony at the IFB headquarters in Tehran. According to Hamouni, IME is the first exchange market listed on IFB. The mercantile exchange went up for price discovery on IFB’s primary, or A board, which only enlists the most transparent and liquid financial institutions. It is followed by B and C boards that are ranked lower in terms of transparency and liquidity. IME requested to be listed on IFB back in November. “Entering Fara Bourse helps IME to take another step toward increased transparency,” Soltani-Nejad was quoted as saying by SENA. He added that this will help both market managers and investors better evaluate IME’s performance. Founded in 2006, IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. The market added gold certificates of deposit to its arsenal this year, complementing its gold coin futures trading. Emulating NASDAQ, IFB is Iran’s second largest equity market in size, with a $27.5 billion market cap.