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Code: 44507 Visited: 440 Publish Date: Nov 06 2017 - 11:28
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Capital Market
Iranian Stock Exchanges Connected to 30 Peers across Globe
Tehran, Nov. 06 (SENA) - Iranian stock exchanges already began cooperating about 30 exchanges from across the globe, an official said on Sunday.

Tehran, Nov. 06 (SENA) - Iranian stock exchanges already began cooperating about 30 exchanges from across the globe, an official said on Sunday.

“Our latest effort is to make connection between our stock exchange and that of Greece,” Bahador Bijani, deputy head of the Securities and Exchange Organization for international affairs, told SENA.

“Officials continue to negotiate with Greek financial officials over the role of a brokerage firm and the custodian situation,” he added.

Cooperation with global markets will have great impacts on the domestic market. However, listed companies need to be rated by global rating agencies if they want to attract the foreign investors’ attention.  

The Iranian regulator has recently taken measures to ease investment regulations and make companies comply with international financial reporting standards (IFRS).

In addition, the regulator has been weighing how to rate all companies based on global standards in the past two years.

The new efforts are aimed at changing the Iranian stock market to an international body, where all investors throughout the world can make an investment in there, Bijani noted.

He urged all economic and financial bodies to closely cooperate with one another to turn the Iranian market to an international one.

It could be a privilege for the Iranian market to offer Islamic bonds, he added.

Iran has offered new financial instruments in the past couple of years, all regulated by Sharia principles.

The SEO has also been approaching major European stock exchanges. According to Bijani, the SEO already negotiated with the German stock exchange. A memorandum of understanding was signed between the Iranian and German sides in September 2016 and talks still continue between the two sides.

 
By: Security and Exchange News Agency (SENA)
 
 
 
 
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