One of the main goals pursued by the Securities and Exchange Organization (SEO) is to integrate the operational and management system in the capital market which will lead to development of information technology and effective supervision through authentic and diversified IT channels, said Ali Salehabadi, the head of SEO.
Speaking at the 8th National and the 2nd International Conference on Electronic Commerce and Economy held in the capital Tehran, Salehabadi reiterated that utilizing information and communications technology is a must in capital markets and the capital market would not witness development without proper electronic infrastructures, reported IRIB.
“During the past few years, the SEO has been trying to expand physical markets, but the capital market now needs to remove time and space restrictions in the IT sphere”, said Salehabadi.
Trades have long been done electronically, but the new features enable traders and customers to do online trades from anywhere in the world with no need to refer to the brokerage firms.
According to the SEO head, since 2010, as many as 614,000 people have experienced online trades and today, 70% of trades are averagely done online.
Ahead of October 26, when a new online post trade system will be inaugurated by the SEO, Salehabadi said the new system has more diverse capabilities than its foreign counterparts.
According to the official, everyday at least 100,000 people visit the organization’s website, tsetmc.com, and there is no difference between what traders at Tehran Stock Exchange (TSE) see on the system with what people see on the website.
The SEO supervises the financial markets and institutes as the key elements in the capital market.
The new information system of securities issuers will be inaugurated under a software system with international credibility. The system automatically supervises the data collection, data analysis and reliability of the information. The goal in establishing this system is to improve the efficiency in the capital market and a maximum intensification in final data and on time release of information for investors.
