The Iran Mercantile Exchange (Persian: بورس کالای ایران, IME) is a commodities exchange located in Tehran, Iran. Established on 20 September 2007 from the merger of the Tehran Metal Exchange and the Iran Agricultural Exchange, IME trades in agricultural, metal and mineral, oil and petrochemical products in the spot market and gold coin in the futures market.
| بورس کالای ایران | |
| Type | Commodities exchange |
|---|---|
| Location | Tehran, Iran |
| Founded | 2007[1] |
| Owner | IME is 30% owned by individuals and 70% by legal and financial entities.[2] |
| Key people | Javad Jahromi (CEO) |
| Currency | Iranian rial |
| Commodities | Industrial products, agricultural products, petrochemicals[1] |
| Website | http://en.ime.co.ir/ |
Commodities
editIME facilitates the trading of commodities and products through its markets.
IME's Listed Commodities on Different Trading Floors
| Main Group | Sub-Group | Commodities |
| Physical Market | Industrial & Mineral | Steel, Copper, Iron Ore, Aluminum, Zinc and rare metals concentrate, Gold bar |
| Agricultural Products | Barley, Wheat, Maize, Sugar, Crude Vegetable Oil, Frozen Chicken, and Meals, Saffron, Cumin Seed, Pistachios | |
| Petrochemical Products | PP, PE, LDPE, aromatics, SBR feed stocks, MS, PS | |
| Oil Products | Lube Cut, Insulation, Oil, Bitumen, Vacuum Bottom, Lube Cut, Slap Wax | |
| Side Market | Side Market | Various Products with Non-Continuous Offering: Steel, Scraps, Polymers, Zinc, Chemicals, Minerals, Feeds, Copper, Sulfate, Lime |
| Derivatives Market | Futures Contracts | Saffron, Cumin Seed, Pistachios |
| Options Contracts | Gold Coins | |
| Financial Market | Standard Parallel SALAM Contracts | Cement, Steel, Iron Ore, Ethylene, Concentrate, Wheat, Frozen Chicken, PVC |
| Certificates of Deposit | Gold Coins, Maize, Barley, Pistachios, Saffron | |
| Investment Funds | Gold Coins. See also: Iranian gold coin |
Products
editIndustrial
edit- Steel
- Aluminum
- Copper
- Gold Bar
- Zinc
- Lead
- Precious Metals
- Nickel
- Industrial & Mineral (including cement)
Petrochemicals & Oil by-products
editAgricultural
edit- Grains Group: various kinds of corn, grain, wheat, rice, bran
- Dried and Trans Products: various kinds of pistachio, date, raisins, saffron, cumin, tea, sugar
- Oil Meals and Seeds Group: various kinds of oily seeds like soybean and oil cake seeds like soybean, colza, cotton seed, sunshade, Safflower cake, corn, palm
- Cereals Group: pea, lentil
- Frozen Chicken
New products
editIn 2016, IME introduced gold futures and options (as hedging tools).[3]
Supervision and regulation
editThe Securities and Exchange Organization (SEO) is the sole regulatory entity for the regulation and development of the capital market in Iran.[4] In 2013, Iran Mercantile Exchange joined the Federation of Euro-Asian Stock Exchanges (FEAS) as an observer member.[5]
Tradable contracts
edit- Spot contract
- Forward contract
- Contract on Credit
- Futures contract (since 2008)
- Options contract
Trading system
editTrading in IME is based on open outcry auction using electronic trading platform, an interaction of bids and offers made by the buying and selling brokers.
IME Statistics
edit| IME Exchange (Including spot, credit and forward transactions) | 2007/08 | 2008/09 | 2009/10 | 2010/111 | 2011/12 | 2012/13 | 2013/14 |
|---|---|---|---|---|---|---|---|
| Agricultural - Volume (thousand tons) | 273.0 | 173.5 | 175.2 | 1,633.9 | 549.6 | 184.5 | 266.2 |
| Agricultural - Value (billion rials) | 772.6 | 3,729.7 | 484.8 | 3,729.7 | 3,792.8 | 1,346.5 | 2,748.5 |
| Manufacturing and Metal - Volume (thousand tons) | 6,443.8 | 6,679.7 | 7,438.5 | 8,694.0 | 11,685.8 | 13,172.0 | 13,555.2 |
| Manufacturing and Metal - Value (billion rials) | 58,044.2 | 62,120.6 | 53,842.0 | 75,235.5 | 102,534.1 | 197,341 | 226,211.0 |
| Oil and Petrochemical - Volume (thousand tons) | 89.7 | 4,339.2 | 7,052.9 | 6,662.6 | 8,116.6 | 8,352.0 | 10,572.0 |
| Oil and Petrochemical - Value (billion rials) | 352.7 | 19,921.0 | 36,450.7 | 41,478.0 | 64,360.8 | 116,387.0 | 199,113.0 |
| Grand Total - Volume (thousand tons) | 6,806.5 | 11,192.4 | 14,666.6 | 16,990.5 | 20,352.0 | 21,708.5 | 24,393.4 |
| Grand Total - Value (billion rials) | 59,169.4 | 82,685.3 | 90,777.5 | 120,443.2 | 170,687.7 | 315,074.5 | 428,072.5 |
1 Due to the reclassification of "cement" under "manufacturing and mining products", figures for 2010/11 have been revised. Previously, "cement" was classified under "oil and petrochemical products".
References
edit- ^ a b "Iran Mercantile Exchange". Archived from the original on 2010-11-04. Retrieved 2010-08-27.
- ^ Nasseri, Ladane (2008-05-27). "Iranian Exchange to Start Commodity Futures in July; Oil Later". Bloomberg. Archived from the original on 2012-11-03. Retrieved 2010-08-27.
- ^ "Options Trading to Make Debut With Gold Coins". 10 December 2016. Archived from the original on 1 August 2018. Retrieved 13 January 2018.
- ^ en.seo.ir https://web.archive.org/web/20110722020229/http://en.seo.ir/Portals/80db6c92-61a1-4abe-a487-e469fa03e00c/IICM-vol1.pdf. Archived from the original (PDF) on July 22, 2011.
{{cite web}}: Missing or empty|title=(help) - ^ "Members' Profiles".
- ^ http://www.cbi.ir/page/7575.aspx Archived 2011-09-28 at the Wayback Machine [bare URL PDF]
- ^ Central Bank of The Islamic Replic of Iran Archived 2012-08-16 at the Wayback Machine. Cbi.ir. Retrieved on 2013-10-29.
- ^ "Annual Review". Central Bank of The Islamic Republic of Iran. Retrieved 13 January 2018.
- ^ http://www.cbi.ir/page/11992.aspx Archived 2014-08-08 at the Wayback Machine [bare URL PDF]
- ^ http://www.cbi.ir/Newestdoc.aspx?id=0&dn=AnnualReview_en&dl=1 Archived 2019-05-02 at the Wayback Machine [bare URL PDF]
External links
edit- (in English) Iran Mercantile Exchange