Iran Mercantile Exchange - en.ime.co.ir

Iran Mercantile Exchange

Iran Mercantile ExchangeAnnual Report

2020

Table of Contents

Vision.........................................................................................................6Mission......................................................................................................6Core Strategies..........................................................................................7IME Values................................................................................................9IME New Initiative.................................................................................10Board of Directors..................................................................................12Management............................................................................................14Board of Directors Message..................................................................18IME General Data...................................................................................20Value of IME Markets............................................................................21Introduction to IME...............................................................................22IME Performance and Achievements in 2020......................................30Human Resources Development...........................................................33Trading Statistics....................................................................................34Listings of IME.......................................................................................51Brokers.....................................................................................................52IME Priorities in 2021.............................................................................56

Vision

The IME has committed itself to becoming the sustainable reference for price discovery and trades of commodities and commodity securities.

Mission

Iran Mercantile Exchange has set out to be the prime reference for price discovery and offer diverse services on commodities and commodity securities to meet the demands of industries, traders and capital market participants through a competitive, fair, transparent and safe infrastructure. The exchange, while focusing mainly on the domestic market, using excellent human resources and advanced financial technology, will be also seeking and utilizing trade opportunities at international level.

Core Strategies

Promoting a sustainable approach towards branding and raising awareness as to IME’s functionsIncreasing market depth for commodities currently traded on the exchange and developing new underlying assets to be traded on instruments available in the exchange with a marketing approachDeveloping cooperation and promoting interactions with financial institutionsImproving and advancing of organizational systems and methodsEnhancing customer satisfaction via providing quality servicesDeveloping balanced growth via interaction with governmental, policy-making and supervisory entities while operating independentlyDeveloping and expanding IME’s business linesImproving comprehensive systems of human capital management

IME Values

Being firmly committed to fairness of trades within a competitive environment, the Iran Mercantile Exchange works hard to ensure professional transparency via enforcing the relevant rules and regulations across its markets.

Besides, with paying special heed to efficient management of resources, the exchange is dedicated to principles of meritocracy and trustworthiness, which along with moral and religious values constitute the benchmarks for employing the company’s staff.

Job prospects for the IME’s staff are positive as it provides room for individual and organizational creativity and has mechanisms implemented for them to experience continuous growth and learning.

The IME believes that having respect for customers, being accountable to stakeholders, adopting an integrated approach in rendering services to beneficiaries and raising public awareness about modern ways of trading commodities and commodity-based securities are its most important duties in order for it to fulfill its social responsibility and pay its share of contribution to the national economy.

IME New Initiative

19th of August, 2020, will go down in history for Iran’s capital market, as the IME launched a platform for offering properties, whether privately owned or belonging to organizational entities, in order to set a new model for trades, and later on for investment, in real estate. The exchange initiated the plan by selling a commercial building located in Pardis City followed by two pieces of land, one of which belonging to Eghtesad Novin Bank and the other to the Ministry of Defense. The IME hopes there will be more and more trades on properties in the exchange such that there will be a fairer, more transparent, consistent and orderly functioning real estate market as time goes by.

In the coming year, however, the IME will be launching standard parallel salam contracts on housing units for those interested in investing in real estate market with small amounts of capital. On the one side, such capitals can pool the fund needed for financing a real estate project and on the other, investors can hedge themselves against price volatilities in the real estate market. Via such contracts it is possible to buy a small portion of the whole area of a house, suitable for those who cannot afford the whole one. Upon maturity, that is to say when the project is over, they can get their house on the condition of having purchased enough portions (contracts) till then to make up a complete one. If not, they can at least evade the inflation pressure of the highly volatile housing market. In other words, they can maintain the purchasing power of their capital in case of inflation, and sell their units at a profit, as the market is predicted to be a highly liquid one.

A New Investment Vehicle in Iran Mercantile Exchange

Board of Directors

Iran Mercantile Exchange Annual Report 2020 13

ShahinCheraghi

Chairman

Amir Hamze Malmir

Deputy Chairman

Behzad Karami

Member of BOD

Bahman Tajalizadeh

Member of BOD

Amir Mahdi Sabaei

Member of BOD

Ali Sa’eedi

Member of BOD

Tahmoures Javan Bakhat

Member of BOD

Management


HamedSoltaninejad

Chief Executive Officer

Hosein Mohammadi

Senior Advisor to CEO and Chief Business Development Officer

Reza Mohtashamipour

Chief Operating Officer

Hasan Farajzadeh

Deputy of Executive Affairsand Clearing & Settlement Managerand HR & Logistic Manager

Seyyed Javad Jahromi

Deputy of Operations & Surveillance and Market Surveillance Manager

Alireza Naserpour

Deputy of Market Development & Economic Studies and Derivatives Market Development Manager

Iran Mercantile Exchange Annual Report 202016

Javad Fallah

Spot Market Development Manager

Abbas Yaghoobi

Market Operation Manager

Mahdi Massahi

Economic Studies Manager and Planning & Performance Assessment Manager

Mohammad Reza Behnamzadeh

Listing & Marketing Manager

Mohammad Norouzpour

Inspection & Members Affairs Manager

Mohammad Hasani Saadi

Public Relations & International Affairs Manager


Barmak Hooshyar Azar

ICT Development Manager

Seyyed Mahdi Razavi

Financial Manager

Mojtaba Alikhani

ICT Security Manager

Ahmad Rahimi

Offering Operation Manager

Mohammad Mahdi Soleimani Pour

Contracts & Legal Affairs Manager

Seyyed Mahdi Tabaei

Security Chief Iran Mercantile Exchange

Board of Directors Message


Within the year titled as “Boom in Production” by the Supreme Leader of Iran, in spite of the country’s economic predicaments and the ups and downs of its markets, the IME managed to achieve considerable success. As the largest regulated market for physical commodities and the commodity securities in the country, it managed to post a total trading value of almost 15 billion USD for the fiscal year 2020, up by 20% compared to the year before that.Apart from that, the IME launched new instruments like the tender platform and trades in the open auction floor, had more suppliers listed especially in its steel market, added more underlying assets like dates, raisins, rice and saffron to its commodity depository receipts market and started the real estate market, which were all big steps to develop the exchange and expand its business. Along with the efforts to improve its financial performance and to extend the coverage of its market to more underlying assets and more participants, the IME had other issues to concern itself with in 2020, regarding its legal status as a commodity market in the national economy. The IME’s years of activity to institutionalize the most logical and widely accepted principle of a healthy economy, which is “price discovery based on the fundamentals of supply and demand”, culminated in winning the full support of the capital market entities, stakeholders and other market participants against those who try to buck the market with price control policy. What’s more, the exchange was finally able to convince all legal entities, executive and supervisory bodies as well as producers and business firms as to offering and managing the complete supply chain of steel in the IME as a regulated and transparent market. The merits of this plan for those concerned will be fair price discovery, lower trading fees, market stability and fund raising opportunities, which is translated into a healthier and more productive economy when extended to products other than steel. Now that we are through with the year 2020, the IME Board of Directors is happy to provide a detailed report of its performance and achievements within the year ending on 31st of December 2020 in addition to its plans and programs of the next fiscal year. Our company has always prided itself on its commitment to stakeholders’ satisfaction; we are indebted to your unending support and kind trust, and keep our fingers crossed that - under the auspices of God - we will be able to deliver on our promises to you as to protecting your rights and doing our best to buoy the IME’s profits, relying on the attempts of the competent and hardworking staff of the exchange.


IME General Data

Type of Company Public Joint Stock Company

2007

Type of Company

Date of Establishment

Number of Shareholders

Number of Shares

CEO

Number of Staff

Number of Listed Commodities

Financial Instruments

Number of Listed Companies

97,752 as at 31/12/2020

2,500,000,000

Hamed Soltaninejad

184 as at 31/12/2019

297 Commodities

1,140 Companies

Cash Contracts, Salam Contracts, Credit Contracts, Premium Contracts, Futures Contracts, Options Contracts, Standard Parallel Salam Contracts, Commodity Depository Receipts, Tender Contracts , Debt Securities and Commodity Funds

Table 1 - General data


Table 2 - Rate of dollar against rial

Trade Value of IME Markets (Million USD)

Total Value Spot12,780

1,086

14,750

883Financial

Derivatives

The average exchange rate of the dollar against the rial used in calculations of the report for a five-year-period is as follows:

Year2015

20162017201820192020

34,05035,77938,86288,279

124,769200,288

Rate


At a GlanceEstablished on 20 September 2007 from the merger of the Tehran Metal Exchange and the Iran Agricultural Commodity Exchange, the IME trades agricultural, metal and mineral, oil and petrochemical products in its spot and derivatives markets. The Exchange handles millions tonnes of commodities annually. It caters to both domestic and regional markets, bringing together a wide range of participants including investors, hedgers, traders and industrial clients. The exchange provides various financial instruments in order to support and finance the agricultural and industrial production.

Functions and ServicesThe exchange plays a key role in the national economy through fostering fair market practices for trades of commodities and commodity-based securities within a transparent atmosphere serving the real economy. The most important functions and services of IME are as follows:

Introduction to IME

Creating and developing markets and innovative instruments based on emerging needs of the capital market and the real economyProviding a venue for fair price discovery Offering risk management solutionsProviding investment possibility for idle capitals through IME solutionsContributing to securitization of commodities and other tangible and non-tangible assetsFacilitating warehousing services Enhancing standardsOffering various methods of fund-raising for listed industries and manufacturing entitiesEnforcing market regulation and conducting supervision on transactions and market participants


AD

B

IME’s Markets

Financial Market

Derivatives Market

Spot (Physical) Market

Main Market Futures MarketStandard Parallel

Salam

Commodity ETFs (ETC)

Commodity Depository Receipts

Debt Securities

Options Market

Export Market

Side Market

Cash ContractsCredit Contracts

SALAM ContractsPremium Contracts

Open Auction ContractsTender Contracts

IME operates three regulated, liquid and transparent markets across a wide range of commodities and commodity-based securities, which are spot, derivatives and financial.

Spot MarketThe IME trades on this market in the form of cash, credit, salam and premium contracts. Commodities traded include agricultural, metal, mineral, as well as oil and petrochemical products, which are required to meet proper standards. It’s worth noting that the products in this market are to be offered and supplied continuously in order to substantiate a credible base for sound price discovery, otherwise they will be offered in the side market. The spot market offers trading services to the physical market participants in three sub-divisions of main market, export pit and side market.

Main MarketThe main market of the IME is the center for physical trading of petrochemical, metal and mineral as well as agricultural commodities. The platform provides opportunities for the upstream manufacturers and producers as well as farmers to offer their commodities to buyers in the downstream food, petrochemical and manufacturing plants who need the basic products as the raw material for their production. The traded prices of the IME’s main market are official prices and are considered as reference for the government, judicial and commercial entities, and the private sector producers and consumers in the real economy. The trading methods include cash trade (full settlement with prompt delivery within 3 working days after matching of trade), credit trade (prompt delivery after matching of trade with settlement plus a premium at a maturity in future), salam trade (payment


and full settlement at a discounted rate after matching of trade with physical delivery at a maturity date) , premium trade whereby traders trade a premium or discount of the price of a commodity at a certain date in future, and open auction trade in which the competition time is more extended for traders as compared to cash trades.

Export PitLaunched in 2007, the platform renders trading services for international buyers and domestic exporters to export minerals, oil-related and petrochemical products to the target markets across the Middle East and Asia. The volumes and prices of the traded products on this platform are benchmark for the regional and global commodity traders. Reputed commodity market price vendors and news sites quote the traded prices of the export ring of the IME as reference. The ring is operating according to the main physical market auction trading pattern.

Side MarketIME’s side market offers a more convenient and diverse trading environment. The platform, which operates, based on an auction system, trades assets that may not fit the conventional standards of exchange-listed underlying commodities. The main physical market trading rules and patterns govern the side market transactions except for the asset class, which could vary in nature from those listed in the main market encompassing assets like properties, real estate, vehicle, or even consumer products.

Derivatives MarketLaunched in 2008, the derivatives market of the IME delivers risk solutions across asset classes offering futures and options on benchmark agricultural commodities like saffron, cumin seeds and pistachios helping hedgers (farmers), investors and traders transform their challenge into opportunities as the need for efficient pricing and transparency is increasing. The exchange-listed contracts are supporting the livelihood of farmers and orchard owners in the key provinces of Khorasan Razavi, South Khorasan and Kerman through offering risk management tools in order to hedge against market volatilities. The contracts offer investing opportunities for the individual and institutional investors as well. Having derivatives contracts on them for the first time in the world, saffron and pistachios have the potentials to become a liquid global benchmark luring foreign markets and investors. It’s worth noting that the IME is also trading futures on silver grains and options on gold coins.

Financial MarketThe IME has made full use of its business resources and functional advantages to actively launch its financial market based on trading instruments such as standard parallel salam (SPS), commodity depository receipts (CDRs), commodity ETFs and debt securities suited for various market participants in the Iranian capital market. The purpose of these tools are to finance producers (SPS), support farmers at harvest seasons and intertwine securitization of the inventories with secondary trading and warehousing


services as a back-up for spot and futures delivery obligations (CDRs), to encourage and direct non-professional investors and idle capitals to invest in commodity funds as a low risk investment tool; and last but not least, to enable exchange commodity suppliers to transfer their obligations at a mutually agreed discounted rate in the market (debt securities).


Commodities

International Ties

The IME provides the trading infrastructure and platform for the listed commodities and products through its markets.

Table 3 - Commodities listed in IME’s markets

CommoditiesMarkets Sub-Group

Industrial & Mineral

Spot Market

Steel, Copper, Iron Ore, Aluminum, Zinc, Rare Metals Concentrate, Cement, Gold Bar

Saffron, Pistachios, Wheat, Maize, Sugar, Oil Seeds, Crude Vegetable Oil, Dates, Raisins, Lentil, Rice, Day Old Chicks, Frozen Chicken,

Polymers, PP, PVC, PE, LDPE, Aromatics, SBR Feed Stocks, MS, PS, PET, ABS

Lube Cut, Base Oil, Bitumen, Vacuum Bottom, Insulation Coating, Slack Wax

Bitumen, Iron Ore, Sulfur,

Scrap Metals, Off-Grade Polymers, Off-Grade Metals and Minerals

Agricultural Products

Petrochemical Products

Oil Products

Export Ring

Side Market

Futures Contracts

Options Contracts

Commodity ETFs

Standard Parallel Salam Contracts

Commodity Depository Receipts (CDR)

Saffron, Cumin Seeds, Pistachios, Silver Grains

Iron Ore, Iron Ore Concentrates, Billet, HDPE, Frozen Chicken, Hot-Rolled Coils (HRC), Steel Ingots, I-Beam, Cement, Polystyrene, Vehicle, Wheat, Granulated Urea, Urea, PVC

Gold Coins, Pistachios, Saffron, Cumin Seeds, Rice, Dates

Gold Coins, Agro-Products Trades in IME CDRs

Gold Coins, Saffron

Derivatives Market

Financial Market

The strategic approach of the IME is to establish and increase constructive ties between regional and international exchanges. The membership of the exchange in the Association of the Futures Markets (AFM) and its participation in regional and international conferences held by the World Federation of Exchanges and other global capital market bodies are in line with this policy.IME intends to be at the forefront of regional developments. A list of IME’s involvements is given below.

Full member of Association of Futures Markets (AFM) as of 2007Affiliate to World Federation of Exchanges (WFE) as of 2015


Members and Shareholders

Shareholders Composition

There are 91 listed brokerage companies in the IME who are licensed by the market regulator, the Securities and Exchange Organization (SEO). The brokers are authorized to trade, settle and clear contracts on behalf their clients.

The amount of startup capital of the IME equals to 100 Billion Rials equivalent to 0.84 million USD (including 100 million shares, at a nominal value of 1,000 Rials per share) and by the decision of the extraordinary general assembly of the exchange on 26 June 2020 has been raised to a total of 2,500 Billion Rials equivalent to 12.50 million USD.

Table 4 - IME’s capital increase information

Capital Increase (%) Amount (Billion Rials) Amount (Million USD)Date of Extraordinary General Assembly

10.05.2011 20

66

Type of Company

22.04.2012

20.05.2013

26.05.2014

18.07.2016

26.07.2018

13.08.2019

26.07.2020

50

50

100

38

50

34

120

200

300

450

900

1,240

1,860

2,500

1.12

1.87

2.81

4.21

8.42

11.60

15.70

12.50

Table 5 - Shareholders’ profile as at 31.12.2020

Number of Shareholders Number of Shares PercentShareholders

Brokerage Firms 40

92

Financial Institutions

Natural Persons

Total

58

97,562

#

1

2

3

4

97,752

243,525,000

488,151,149

969,600,000

798,723,851

2,500,000,000

9.74%

19.53%

38.78%

31.95%

100

Manufacturers, Suppliers and Other Exchange Participants



Legal Environment of IMEThe IME operates in full compliance with the rules and regulations of the Iranian capital market passed by the Iranian Parliament, and the pertaining directives and by-laws.

The Securities Market Act of the Islamic Republic of Iran;The Law of Development of New Financial Instruments & Institutions in Order to Facilitate Implementation of General Policies of Article 44 of the Constitution;The Commercial Code of Islamic Republic of Iran;The Anti-Money Laundering Act;The Law of the Fifth Development Plan of the Islamic Republic of Iran;The Law of Implementation of General Policies of Article 44 of the Constitution;Directives by the Cabinet of Iran on the Activities of the IME;Guidelines and Bylaws by the Securities and Exchanges High Council and SEO;The Law of Increasing Agricultural and Natural Resources Productivity;The Law of Comprehensive System of Animal Husbandry;The Law of Removing the Obstacles of Competitive Production and Advancement of Financial System of the Country.


Running the first export offering of the petrochemical trading floor

*

*

*

*

*

*

*

*

*

*

*

Running of the second phase of the standard parallel salam on iron ore of Sanabad Mining and Industrial Company

The launch of CDR on Birjand Saffron Depository

Drafting the company's Strategic Plan

Running the second phase of Commodity Listings System

The launch of new version of the trading system

Running the tax inquiry service

Capital Raise

Drafting the regulations on opening the branch, representative office, trading floor, and admission bureau in relation with the article 11 of the Instructions of the IME's services for the member brokers

January

February

March

April

May

The launch of SPS on hot-milled steel wire of the Foolad Mobarakeh steel Co

Formation of trading symbol to launch Gold Coin CDR

June

IME Performance and Achievements in 2020


Running the first export offering of the petrochemical trading floor

*

*

*

*

*

*

*

*

*

*

*

Running of the second phase of the standard parallel salam on iron ore of Sanabad Mining and Industrial Company

The launch of CDR on Birjand Saffron Depository

Drafting the company's Strategic Plan

Running the second phase of Commodity Listings System

The launch of new version of the trading system

Running the tax inquiry service

Capital Raise

Drafting the regulations on opening the branch, representative office, trading floor, and admission bureau in relation with the article 11 of the Instructions of the IME's services for the member brokers

January

February

March

April

May

The launch of SPS on hot-milled steel wire of the Foolad Mobarakeh steel Co

Formation of trading symbol to launch Gold Coin CDR

June

Drafting regulations on assessment and evaluation of the clients' anticipated activities

Rendering service on inter-accounts transfer from proxy accounts to operational accounts between Bank Keshavarzi and the Sanat Madan Bank

Running the clearing service on combined settlements

Attending meetings of the Iran-Uzbekistan joint economic commission in the Trade Promotion Organization of Iran and advancing the bilateral ties and contributing to boost the mutual trade between the two countries via exchange infrastructure

Holding online training workshops for the IME stakeholders

Launching of the Borard of Directors Risk Committee

Adjustment of the collaterals pledged by suppliers to BG or cash

Approval of listing of the gold fund futures and bitumen fund futures contracts by the Listings Committee

Offering land and housing units in the exchange by the New Cities Construction Company, trade and settlement of non-transferable assets in the IME

Running the data send/receive service for CDR through MPLS transmission platform

Obtaining permit of launching the commodity funds from the SEO

Revision of the instruction for writing of commodity debt securities

Standardization of the offering notices

July

August

September

*

*

*

*

*

*

*

*

*

*

*

*

*


Drafting of the comprehensive report of credit rating of suppliers in the IME aimed at determining the optimum amount of their collaterals

Launching of the spot market trade board


Installation of the electronic order-placing system

Running of the new version of gateway of the Tech-based data release

Running of the new Clients' System for the brokers

Running of CDR platform for raisins, saffron and dates

Launching of the new system of spot market customers and derivatives market clients

Admission and listing of two commodity funds of Novira and Saharkhiz on saffron

Drafting of the instructions for trading of Standard Parallel Salam on housing units

October

November

December

*

*

*

*

*

*

*

*

*

*


Drafting of the comprehensive report of credit rating of suppliers in the IME aimed at determining the optimum amount of their collaterals

Launching of the spot market trade board


Installation of the electronic order-placing system

Running of the new version of gateway of the Tech-based data release

Running of the new Clients' System for the brokers

Running of CDR platform for raisins, saffron and dates

Launching of the new system of spot market customers and derivatives market clients

Admission and listing of two commodity funds of Novira and Saharkhiz on saffron

Drafting of the instructions for trading of Standard Parallel Salam on housing units

October

November

December

*

*

*

*

*

*

*

*

*

*

Human Resources DevelopmentIn the fiscal year 2020, development of human resources along with plans to make improvements in personnel quality and betterment in staff maintenance have always been on the top of priority for the IME in order to make the most out of the company’s potentials and to create as much profitability and synergy as possible. Drafting and revising of executive procedures and guidelines relating to HR and job description, devising staff performance indices, and putting up performance assessment systems and holding general and specialized training courses for all the employees to empower them in relation to their profession are among the landmarks of IME’s initiatives in this regard.

The following tables will show the IME’s HR status at the end of the current fiscal year as compared with the previous year:

Table 6 - Number of employees sorted by gender at the end of 2020

Female

48

51

3

134

133

-1

Male

2019

2020Increase/ Decrease

182

Total

184

2

Table 7 - Number of employees sorted by education degree at the end of 2020

Degree

Associate Degree & Beneath

Bachelor’s Degree

54 % 29.7 51 % 27.72 -3

54 % 29.7 61 % 33.15 7

Master’s Degree

PhD

66 % 36.2 65 % 35.33 -1

8 % 4.4 7 % 3.80 -1

Total 182 %100 184 %100 2

Number NumberShare of

Total (percent)

Increase/ Decrease

in Human Resources Number

Share of Total (percent)

2019 2020

Trading Statistics


Trading Statistics

General Overview of IME Statistics

Spot Market

Side Market 95,679

4,639,143

8,983,479

11,426,897

15,419

416

0

25,160,616

40,099,115

3,275,564,033

4,227,709,722

2,476,698,962

2,017,961

17,209,690

0

10,039,299,484

96,863

5,186,134

13,082,754

14,521,217

15

718

0

32,886,983

25,408,493 1% -37%

12% 5%

45.6% 61%

27% 0%

-100% 218%

73% 103%

- -

30.7% 27%

3,446,992,335

6,789,224,844

2,474,825,386

6,414,429

34,874,508

1,632,296

12,779,372,291

Petrochemicals

Metals and Minerals

Oil Products

Agro Products

Gold (kg)

Real Estate

Total Spot Market

Volume (tonne) Volume (tonne) Volume Value (USD) Value (USD) Value

2019 2020 Percentage Change

Derivatives Market

Futures Contracts 14,389,561

58,053

14,447,614

1,897,022,303

10,715,568

1,907,737,871

16,093,005

32,589

16,125,594

1,071,142,322 12% -44%

-44% 36%

11.6% -43%

14,622,000

1,085,764,322

Options Contracts

Total Derivatives Market

Number of Contracts

Number of Contracts

Number of

ContractsValue (USD) Value (USD) Value


Standard Parallel SALAM 24,968,409

86,272,568

1,067,446,818

94,298,275

254,344,708

491,614,762

50,133,790

123,091,885

1,432,235,423

186,979,994 101% 98%

43% 65%

34% 80%

419,982,420

882,976,847


956,205,841 142,971,780 1,259,009,748 32% 93%276,014,433Commodity ETFsTotal Financial Market

Number of Contracts

Number of Contracts

Number of


Table 8 - General trading data

- 12,438,652,117 - - 19%14,748,113,460IME's Total Trade Statistics


Billi

on U

SD

2020

0

2

4

6

8

10

12

14

16

2019

Spot Market Financial Market TotalDerivatives Market

1.91

12.43

0.50

10.06

1.09

14.75

0.88

12.78

Chart 1 - Comparison of IME’s performance across its markets between 2019 and 2020

As shown in the chart above, the IME experienced an upward trend in its spot and financial markets in 2020, although with a slight change in both. However, the IME’s turnover in its derivatives market was almost halved as compared to 2019. Yet, the exchange saw a 20% growth in its total trading value in 2020 compared to 2019.


Spot Market

Table 9 – Spot market statistics

Item

Side Market 95,679

4,639,143

8,983,479

11,426,897

15,419

416

0

25,160,616

40,099,115

3,275,564,033

4,227,709,722

2,476,698,962

2,017,961

17,209,690

0

10,039,299,484

96,863

5,186,134

13,082,754

14,521,217

15

718

0

32,886,983

25,408,493 1% -37%

12% 5%

45.6% 61%

27% 0%

-100% 218%

73% 103%

- -

30.7% 27%

3,446,992,335

6,789,224,844

2,474,825,386

6,414,429

34,874,508

1,632,296

12,779,372,291

Petrochemicals

Metals and Minerals

Oil Products

Agro Products

Gold (kg)

Real Estate

Total Spot Market



The IME’s spot market performance as seen in this table has been on the rise in all sections except for its side market. “Metals and Minerals” is the trading floor that ranks first in trading value with 6.7 billion USD, showing a remarkable growth of 61% compared to 2019, followed by the “Petrochemicals” with 3.4 billion USD, posting only a 5% increase. The exchange shows an overall increase of 27% in its spot market in 2020 compared to the year before that. As to the volume of trades, the exchange registered an upward trend, selling almost 31% more physical commodities on its various trading floors.

Mill

ion

Tonn

es

0

5

10

15

20

25

30

35

Mill

ion

USD

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

ValueVolume

2016 2017 2018 2019 2020

26.07

9,634

11,504

8,644

10,058

12,779

25.48 25.7525.16

32.89

Chart 2 - Spot market trading status (volume and value) since 2016

As seen in this chart, the IME’s spot market trading volume levelled off at 25 million tonnes for 4 consecutive years till 2019, but the exchange posted a noticeable jump of 7 million tonnes in 2020. As to the value of trades in the IME’s spot market, as the chart shows, there were ups and downs within this 5 year period. Even so, 2020 has the records with nearly 13 million USD.


53.13%

19.37%

26.97%

0.01%0.05%0.20%0.27%

Metals & Minerals

Petrochemichals

Oil ProductsGold

Side Market

Agro Products

Real Estate

Chart 3 - Share of trading floors in value of trades in IME’s spot market within 2020

According to this chart, Metals and Minerals come first in value of trades in all trading floors of the IME’s spot market in 2020, accounting for more than half of the total trading value. Petrochemicals come next with 27% of the total trading value of the spot market of the year.

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Chart 4 - Value of trades across spot market trading floors within 2020 compared to 2019

Comparison of the two years speaks of the IME’s upward trend in all trading floors of its spot market for 2020 with the Metals and Minerals taking the lead, posting almost 7 billion dollars’ worth of trade.


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39.78%

44.15%

15.77%

0.0000470.29%

Metals & Minerals

Petrochemichals

Oil ProductsSide Market

Agro Products

Chart 5 - Share of trading floors in volume of trades in IME’s spot market within 2020

As to the volume of trades in various trading floors of the IME’s spot market in 2020, the Oil Products floor has the highest rank with the Metals and Minerals following, accounting for nearly 45% and 40% of the total trading volume of the market respectively.

Chart 6 - Volume of trades across spot market trading floors within 2020 compared to 2019

Comparing 2019 and 2020 with regards to the volume of trades across various trading floors of the IME’s spot market shows that almost all floors have experienced growth in volume; Metals and Minerals & Oil Products more than the others. The only floor with downward trend is the agricultural, as the exchange put such trades on hold.


Chart 7 - Overall comparison of IME’s spot market performance between 2019 and 2020

The chart schematizes an overall view of the IME’s spot market performance in 2020 compared to that of 2019. Roughly speaking, the IME witnessed 30% of growth in both volume and value of trades of its spot market in 2020, which is quite remarkable.

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ValueVolume

2019 2020

25.16

32.89

10,058

12,779



Within this section, different floors of the spot market will be dissected in order to provide a more detailed view of the IME’s performance across commodity groups

Metal and Mineral CommoditiesOver 2020, the total trading value of Metals and Minerals was about 7 billion USD, experiencing a 60% growth compared to the last year. The overall growth in volume of trades on this floor was 45%.

Table 10 - Metals and minerals trading statistics

Commodity Group

Type of Contract

Aluminum

SALAM

Zinc

Steel

Copper

ConcentratesMolybdenum Concentrates

CokeIron Ore

Sponge Iron

CementZinc Dust

Lead

Gold (Kg)*

Cast Iron

Total Metals and Minerals

واحد ط� : کیلوگرم *

0 0 0 0 0% 0%Credit 0 0 5,195 13,187,487 - -Cash 187,810 330,179,433 238,130 398,077,101 26.79% 20.6%

Cash 7,560 17,430,230 14,245 31,750,659 88% 82.2%

SALAM 6,946,165 2,568,540,041 9,895,235 4,340,958,211 42.46% 69.0%Credit 209,934 65,919,663 336,424 110,096,131 60% 67.0%Cash 954,022 297,536,408 2,010,890 821,606,765 111% 176.1%

Credit 16,900 92,229,909 9,975 49,814,847 -41% -46.0%

Cash 206,810 741,439,286 215,890 851,378,573 4.4% 14.8%

Cash 498 54,591,627 600 86,866,976 20% 59.1%

Cash 5,870 44,142,211 6,520 47,803,926 11.1% 8.3%

Cash 19,900 2,472,848 16,500 2,328,738 -17% -5.8%Cash 420,000 12,624,440 10,000 715,400 -98% -94.3%

Cash 4,000 544,000 0 0 -100% -100%

Cash 4,000 42,224 0 0 -100% -100%Cash 0 0 321,750 33,650,023 - -Cash 10 17,401 400 553,659 3900% 3081.7%Cash 0 0 1,000 436,349 - -

SALAM 6,946,165 2,568,540,041 9,895,235 4,340,958,211 42.5% 69.0%Credit 226,834 158,149,572 351,594 173,098,465 55% 9.5%

Cash 1,810,480 1,501,020,109 2,835,925 2,275,168,168 56.64% 51.6%

Cash 416 17,209,690 718 34,874,508 73% 102.6%

8,983,479 4,227,709,722 13,082,754 45.63% 60.6%6,789,224,844Total

4,000 544,000 0 -100% -100%0Total

223,710 833,669,196 225,865 1.0% 8.1%901,193,420Total

8,110,121 2,931,996,112 12,242,549 51.0% 79.8%5,272,661,108Total

187,810 330,179,433 243,325 29.56% 24.6%411,264,588Total



As shown in the table the total trading value and volume for all commodity groups have been on the rise in 2020 compared to 2019 except for cement, sponge iron, iron ore and coke. Steel accounts for the biggest share of the market with a trading value of more than 5 billion dollars, most of which done in salam contracts. Trades of steel witnessed a growth of 80% in value and 50% in volume in 2020.


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ValueVolume

2016 2017 2018 2019 2020

10

4,162

4,693

3,172

4,245

6,824

8 89

13

Chart 8 - Metals and minerals market trading status (volume and value) since 2016

Except for 2018, which experienced a nearly 30% fall in value of trades compared to the year before that, the IME’s metals and minerals market has been always rising since 2016, with 2020 having the record of almost 7 billion USD. As to the volume of trades the chart shows a downward trend, reaching from over 10 million tonnes in 2016 to and leveling at around 8 million tonnes within 3 consecutive years after that. However, the loss was compensated in 2020 with a record of more than 13 million tonnes, which was a 45% growth compared to 2019.

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2019 2020

9

13

4,245

6,824

Chart 9 – Overall comparison of metals and minerals market performance between 2019 and 2020

Figures of the chart speak of a bullish metals and minerals market for 2020, as the exchange, compared to 2019, saw 45% and 60% of growth in volume and value of trades respectively. More than 13 million tonnes of metal and mineral commodities were sold on the IME worth almost 7 billion USD.


Petrochemical Products

Petrochemicals accounted for 27% of the IME’s spot market trading value in 2020, showing a 5% rise in comparison to 2019. Within this fiscal year the exchange sold almost 3.5 billion dollars’ worth of commodities on this floor.

Table 11 - Petrochemical products trading statistics

Commodity Group

Type of Contract

Chemicals

SALAM

Polymeric Products

Total

Argon

181,657 129,772,669 172,811 126,935,636 -5% -2%Credit 3,380 3,350,655 0 0 -100% -100%Cash 1,158,528 458,990,787 1,519,735 495,832,824 31.2% 8%

SALAM 1,073,359 922,517,257 1,297,578 1,001,420,513 21% 9%

Credit 1,016 873,532 5,140 3,515,403 406% 302%Cash 2,220,002 1,759,934,493 2,187,321 1,818,697,794 -1.5% 3%

SALAM

SALAM

1,200 124,640 1,810 340,043

5.94% 5%

Cash 0 0 1,740 250,122 - 0%

196% 373%

Credit 4,396 4,224,187 5,140 3,515,4031,256,216 1,052,414,567 1,472,199 1,128,696,191

17% -17%

Cash 3,378,530 2,218,925,279 3,708,795 2,314,780,741 9.8% 4%

Cash 4,639,143 3,275,564,033 5,186,134 3,446,992,335 12% 5%

1,200 124,640 3,55017.2% 7%

590,165Total

51% 173%

1,343,565 592,114,111 1,692,546 26% 5%622,768,460Total

3,294,378 2,683,325,282 3,490,038 2,823,633,710Total




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ValueVolume

2016 2017 2018 2019 2020

3.53

2,998

3,541

2,864

3,2763,447

3.82

4.40 4.64

5.19

Chart 10 – Petrochemicals market trading status (volume and value) since 2016

As shown in this chart the IME did not hit its best record in terms of value of trades for petrochemicals in 2020 in a five year period. 2020 wins the second place but not too far from 2017 which occupies the first. As to the volume of trades, the exchange’s performance has been on the rise all through these five consecutive years, with 2020 posting the highest record of selling more than 5 million tonnes of petrochemical commodities.

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3,500

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ValueVolume

2019 2020

4.64

5.193,276

3,447

Chart 11 - Overall comparison of petrochemicals market performance between 2019 and 2020

According to the chart, both volume and value of trades went up in 2020 for petrochemicals compared to 2019. Yet, the difference was not that big in either of them. Value of trades saw a growth of only 5% while the exchange sold 12% more petrochemicals in this year.


Oil ProductsThe following table shows in detail the trading statistics of the IME’s oil products market with a total trading value of 2.5 billion USD for 2020. Vacuum bottom and bitumen account for most of the total trading value of this market each with about 1 billion USD.

Table 12 - Oil products trading statistics

Commodity Group

Type of Contract

OilSALAM

Bitumen

Vacuum Bottom

Sulfur

Lube Cut

Slops Wax

Insulation

Total

0 0 4,100 2,265,986 - -Cash 32,792 14,782,318 94,863 43,882,365 189% 197%

Credit 31,810 5,412,476 950,246 200,792,777 2887% 3610%1022% 632%

Cash 4,585,048 1,011,778,432 4,441,479 748,887,686 -3.1% -26%

SALAM 1,715 434,422 19,250 3,179,368

17% -6%SALAM 1,457,000 305,056,599 1,450,000 219,045,747 -0.5% -28%

Cash 3,807,340 773,856,148 4,817,040 770,949,066

Credit 103,900 18,284,790 153,000 28,231,300

27% 0%

Cash 5,368,240 1,097,197,537 6,420,040 1,018,226,112Cash 330,124 12,702,045 701,913 19,954,937

19.6% -7%

SALAM 0 0 0 0 0% *

Credit 0 0 4,000 924,300 - *

Cash 980,900 309,925,751 1,775,430 413,292,776 81.0% 33%81.4% 34%

SALAM 0 0 0 0 0% *

Total 44,340 10,577,646 52,100 8,914,754 18% -16%

Credit 0 0 22,640 6,977,948Cash 51,928 13,888,335 35,156 7,526,378

Cash 44,340 10,577,646 52,100 8,914,754

- *

11% 4%

SALAM 1,458,715 305,491,021 1,473,350 224,491,100 1% -27%

Credit 135,710 23,697,266 1,129,886 236,926,325 733% 900%Cash 9,832,472 2,147,510,675 11,917,981 2,013,407,962 21% -6%

27.1% 0%11,426,897 2,476,698,962 14,521,217 2,474,825,386Total

51,928 13,888,335 57,796

-32.3% -46%

14,504,326Total

980,900 309,925,751 1,779,430

18% -16%

414,217,076Total

113% 57%

47.3% 54%

4,618,573 1,017,625,331 5,410,975 952,859,830Total

32,792 14,782,318 98,963 202% 212%46,148,351Total




Chart 12 - Oil products market trading status (volume and value) since 2016

In spite of fluctuations in value of trades, the trend since 2016 has been always rising, with 2019 and 2020 sharing the highest record of almost 2.5 billion USD. The same trend could be seen for volume of trades hitting the record of more than 14.5 million tonnes in 2020.

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2,500

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4,000

ValueVolume

2016 2017 2018 2019 2020

10.12

1,739

2,3952,185

2,477 2,475

10.57 10.5111.43

14.52

Chart 13 - Overall comparison of oil products market performance between 2019 and 2020

According to this chart the IME sold 2.5 billion dollars’ worth of oil products in 2020, showing a slight change compared to 2019. Yet, there is a 27% change in volume of trades reaching from 11.5 million tonnes in 2019 to 14.5 million 2020.

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ValueVolume

2019 2020

11.43

14.52

2,477 2,475


Agro ProductsAccording to the following table the IME’s total trading value in its agro products market rose by more than 200% in 2020

Table 13 - Agricultural products trading statistics

Commodity Group

Type of Contract

Maize Cash

Saffron

Total

Dates

11,368 1,242,776 0 0 -100% -100%Credit 0 0 15 6,414,429 - *

Cash 4,051 692,463 0 0 -100% -100%14633% 7654%

Credit 0 0 15 6,414,429 - *

Cash 0.105 82,722 0 0

-100% -100%-100% 218%

Cash 15,419 2,017,961 0 015,419 2,017,961 15 6,414,429Total

0.105 82,722 15-100% -100%

6,414,429Total



Chart 14 - Overall comparison of agro products market performance between 2019 and 2020

According to the chart, the IME’s trading value in agro products shows a dramatic change in 2020; more than tripled compared to 2019. This happened while the exchange stopped trading all agro products except for saffron, with its trading volume of the market reaching from more than 15,000 tonnes in 2019 to 15 tonnes in 2020. In fact, saffron as the most expensive seasoning in the world accounts for the big growth in trading value of the whole agro products market of the IME.

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ValueVolume

2019 2020

15.42

2.02

6.41


Side MarketThe IME’s side market sold almost 100,000 tonnes of commodities worth roughly 25 million USD.

Table 14 - Side market trading statistics

Commodity Group

Type of Contract

Steel Cash

Scraps

Agro-Products

Polymeric Products

Chemicals

Oil ProductsMinerals

Total

1,450 335,564 3,346 1,654,687 131% 393%Salam 2,132 591,533 5,393 1,955,687 153% 231%

Salam 16,054 18,803,978 2,778 1,748,752 -82.70% -91%

100.8% 151%

Cash 9,268 9,478,399 20 6,000 -100% -100%

Cash 3,146 1,016,423 5,206 2,084,887

-89.0% -94%Credit 0 0 27,379 12,216,417 - -Cash 13,468 6,612,478 2,214 866,091

120% 98%Total 13,468 6,612,478 29,593 13,082,508Salam 300 169,021 0 0 -100% -100%Cash 6,556 1,155,857 1,255 1,192,359

-82% -10%

Cash 42,000 1,408,656 44,150 2,619,418 5.1% 86%Cash 1,305 527,207 5,122 1,064,195 292% 102%Salam 18,486 19,564,531 8,171 3,704,439 -56% -81%

Credit 0 0 27,379 12,216,417 - -Cash 77,193 20,534,584 61,313 9,487,636 -21% -54%

1% -37%95,679 40,099,115 96,863 25,408,493Total

6,856 1,324,878 1,255 1,192,359Total -80.9% 3%

-83.6% -87%

25,322 28,282,377 2,798 1,754,752Total

5,278 1,607,955 10,59965.5% 105%

4,040,574Total



Chart 15 - Overall comparison of IME’s side market performance between 2019 and 2020

According to this chart, the exchange hardly experienced any change in volume of trades in its side market, yet there was a considerable fall of nearly 40% in value of trades in 2020 as compared to 2019.

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ValueVolume

2019 2020

96.86

95.68

40.10

25.41


Derivatives Market

Comodity

Futures

Options

Total

1,258,262 351,707,050 4,985 1,088,783 -100% -100%

-14% -48%

Pistachios - PS 363,508 319,753,138 298,911 185,351,198

12,524,279 1,209,660,520 15,579,553 876,443,169 24% -28%

Poushal Saffron

(Whole Strands) - OS

Cumin Seed - CS

243,512 15,901,595 209,556 8,259,173

-18% -42%

Coin - GC 16,340 6,096,136 28,107 14,421,620

Total 14,389,561 1,897,022,303 16,093,005 1,071,142,322

Saffron - SF 41,713 4,619,432 4,482 200,38072% 137%

-44% 36%

Total 14,447,614 1,907,737,871 16,125,594 1,085,764,322 11.6% -43% 58,053 10,715,568 32,589 14,622,000Total

-89% -96%

12% -44%

Negin Saffron(Cut Strands) - SA

Number of Contracts Number of Contracts Number of ContractsValue (USD) Value (USD) Value


As shown in the table the IME traded more than 1 billion options and futures contracts, showing about 10% of growth in number of contracts, while the overall value of the market almost halved in 2020 compared to 2019.

Financial Market

Table 16 - Financial market trading statistics

As shown in the table, the IME’s financial market was a booming one in 2020 as it rose by %34 and %80 in number of contracts and value of trades respectively compared to 2019.

Derivatives Market

Table 15 - Derivatives market trading statistics


Standard Parallel SALAM 24,968,409

86,272,568

1,067,446,818

94,298,275

254,344,708

491,614,762

50,133,790

123,091,885

1,432,235,423

186,979,994 101% 98%

43% 65%

34% 80%

419,982,420

882,976,847


956,205,841 142,971,780 1,259,009,748 32% 93%276,014,433Commodity ETFsTotal Financial Market

Number of Contracts

Number of Contracts

Number of



Listings of IME

Within 2020, the IME issued in total 9927 trading codes across its various markets.

1. Commodities listed in IME’s main market

(A) New brands of previously listed commoditiesIn 2020, the IME listed 121 new brands of domestically produced commodities which were previously listed in the IME. These commodities are produced by 113 companies.

31 commodities belonging to the metals and minerals group90 commodities belonging to the oil and petrochemical group

(B) New commoditiesIn 2020, the IME listed 3 new commodities including: Toluene, Train Rails and Cast Iron.

(C) Imported Commodities In 2020, the IME listed 2 imported commodities

2-ethylhexanolNatural rubber

2. Commodities and companies listed in IME’s side market

In 2020, a total of 54 commodities produced by 41 domestic companies were listed in the IME’s side market:

12 commodities belonging to the oil and petrochemical group16 commodities belonging to the metals and minerals group13 commodities belonging to the agricultural group13 commodities belong to the group of immovable properties


Brokers

The brokers are the main agents for trading on the IME. By the end of 2020, a total number of 91 brokerages were authorized and given a license by the Securities and Exchange Organization (SEO) to perform in the IME. A total of 664 licenses were issued for these brokers in the sectors of metals and minerals, oil and petrochemical products, agriculture, cement, futures contracts, online futures contracts, standard parallel salam contracts, commodity depository receipts and listing advisory.

Table 17. Active brokers in 2020

Bro

kers

Row

Met

als

& M

iner

als

Oil

& P

etro

chem

ical

s

Agr

o Pr

oduc

ts

Cem

ent

Futu

res

Onl

ine

Futu

res

Para

llel

SA

LAM

List

ing

Adv

isor

y

Num

ber o

f Lic

ense

s

Com

mod

ity D

epos

itory

R

ecei

pts

Aban * * * * * * * * * 9

* * * * * * * * * 9Apadana

Ati Saz Bazar

Arad Iranian

Arman Tadbir Naghsh Jahan

Armon Burse

Aria Novin

Aftab Derakhshan Khavarmiyaneh

Agah

Ayandeh Negar Kharazmi

Ordibehesht Iranian

Arg Hooman

Etminan Sahm

Eghtesad Bidar

Amin Avid

Amin Sahm

Isatis Pouya

Bazar Saham

Ayandeh Bank

Eghtesad Novin Bank

* * * * * 5

* * * * 4

* * * * * * 6

* * * * * 5

* * * 3

* * * * * 5

* * * * * * * * * 9

* * * * * * * * * 9

* * * * * * * * 8

* * * 3

* * * 3

* * * * * * * * * 9

* * * * * * * * * 9

* * * * * * * * * 9

* * * * * * * * * 9

* * * * 4

* * * * * * * * * 9

* * * * 4

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20


Bro

kers

Row

Met

als

& M

iner

als

Oil

& P

etro

chem

ical

s

Agr

o Pr

oduc

ts

Cem

ent

Futu

res

Onl

ine

Futu

res

Para

llel

SA

LAM

List

ing

Adv

isor

y

Num

ber o

f Lic

ense

s

Com

mod

ity D

epos

itory

R

ecei

pts

Ansar Bank * * * * * * * * * 9

* * * * * * * * * 9Pasargad Bank

Tejarat Bank

Export Development Bank

Middle East Bank

Dey Bank

Refah Bank

Saman Bank

Sepah Bank

Saderat Bank

Industry and Mine Bank

Karafarin Bank

Agriculture Bank

Maskan Bank

Mellat Bank

Bank Melli Iran

Bahonar

Ebraz Bourse

Behgozin Bourse

Iran Insurance

* * * * * 9

* * * * 9

* * * * ** *** 9

* * * * * 8

* * * 9

* * * * * 8

* * * * * ** * *

* * ** * *** *

* * * 9

* * * * * * * * * 9

* * * * * * ** * * * * *

* 9

* * **

9

* * ***** 7

* * * * * * * * * 9

* * * * * * * * * 9

* * * * * * * * * 9

* * * * * * * * * 9

* * * * * * 6

* * * * * * * * ** * * * *

9

* * * * 9

21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

36

37

38

39

40

Bourse Bimeh Iran

Bahman

Pars Idea Bonyan

Pars Nemoodgar

Parsian

Pishgaman Behparvar

Novin Investment Bank

Tadbirgar-e-Sarmayeh

0

* * * * * * * * * 9

* * * * * * * 7

* * * * * 5

* * * * * * * * * 9

* * * * * 9

* * * * * **

* * ** * * *

*

9

* * * * 6

41

42

43

44

45

46

47

48

Tadbirgaran Farda

Tavazon Bazar* * * * * * * * *

* * * * *

9

* * * * 9

49

50

* * * *** * * *


Bro

kers

Row

Met

als

& M

iner

als

Oil

& P

etro

chem

ical

s

Agr

o Pr

oduc

ts

Cem

ent

Futu

res

Onl

ine

Futu

res

Para

llel

SA

LAM

List

ing

Adv

isor

y

Num

ber o

f Lic

ense

s

Com

mod

ity D

epos

itory

R

ecei

pts

Tavana * * * * * * 6

* * * * * * * 7Tose'e Sarmaye Donya

Tose'e Sahand

Tose'e Farda

Tose'e Keshavarzi

Kian Trade Development

Hafez

Khobregan Saham

Danayan Pars

Daliran Pars

Donyaye Khobreh

Donyaye Novin

Rahbord Iran Saham

Investers’ Guide

Razavi

Sepehr Bastan

Setareh Jonoob

Sarmaye Va Danesh

National Investment Company

Saham Pajhohan Shayan

* * * * * 8

* * * 8

* * * * 4

* 4

* * * 9

* * * * * 9

* * ** * ** * *

* * ** * ****

* **

* 9

* * * * * 5

* * * * * * ** * * * * *

* 9

* * **

9

* * * ***** 8

* * * * * * 6

* * * * * * * * * 9

* * * * 4

* * * * * ** * * *

6

* * * * * 9

* * * **

4

* * 3

51

52

53

54

55

56

27

58

59

60

61

62

63

64

65

66

67

68

69

70

Saham Gostaran Shargh

Sahm Ashna

Seavolex

Simabgoon

Sina

Shahr

Saba Tamin

Saba Jihad

1

* **

* * * * * * ** *

9

* * * * * * * 9

* * 2

* * * * * * * * * 9

* * * * * 9

* * * * * **

* * ** * * *

*

9

* * * * 9

71

72

73

74

75

76

77

78

Farabi

Firouzeh Asia* * * * * * * *

* * **

* * * * *

9

5

79

80

* * *** * * *


Bro

kers

Row

Met

als

& M

iner

als

Oil

& P

etro

chem

ical

s

Agr

o Pr

oduc

ts

Cem

ent

Futu

res

Onl

ine

Futu

res

Para

llel

SA

LAM

List

ing

Adv

isor

y

Num

ber o

f Lic

ense

s

Com

mod

ity D

epos

itory

R

ecei

pts

Middle Eastern Commodity * * * * * * *

*

7

* * * * * * ** 8Ganjine Sepehr Part

Mobin Sarmaye

Modaber Asia

Mofid

Melal Pouya

Mehrafarin

Negah Novin

Namad Shahedan

Noandishan

Nahayat Negar

Total

* * * * * 9

* * * 6

** * * * 8

6

* 5

* * * * * 9

* * ** * ** * *

* * **

*** * * *

* ** * *

*8

* * * 6

* * * * * * *87 81 77 67 71 69

* 9

83 66 64*

664

81

82

83

84

85

86

87

88

89

90

91

* * * ** *

** **


IME Priorities in 2021

Within 2021, each department of the exchange has its plans to implement which are listed as follows:

Clearing and Settlement DepartmentDeveloping the multi-phase settlementSystematic transfer of settlement amounts among the proxy accounts, operational accounts and the brokers’Drafting of the regulations for collateral pledging and customers’ credit ratingClearing of the VAT bills in cash settlementsCompletion and running of the delivery system ( web-base)Advancement of the export trades electronic infrastructure to boost interactions with the Customs and the Central BankBanks’ participation in providing finance for daily settlement of contracts

Market Operation Department

Running the Open Auction trade platform on iron ore

Inspection and Brokers Affairs DepartmentDesigning the new system of managing brokersDesign and installation of the Risk Rating of Brokers in the SIMA platform

Listings and Marketing Department

Outlining the new lineup for commodities Drafting the layout and running of the commodity listing system (phase II )Drafting the layout and running of the web-based system of customer registration (phase II )

Public Relations and International Affairs DepartmentStreaming the Russian language section of the IME website Synchronization of the Farsi, English, Arabic and Russian language sections of the IME website


AML Bureau

Monitoring of IME clients’ trade activities

Derivatives Market Development DepartmentConducting the feasibility study on launching swap tradesLaunching the Standard Parallel Salam on housing units Launching the ETFs on non-transferable propertiesLaunching of the commodity debt securities Launching the futures contracts on silverLaunching new underlying commodities in futures and options marketsLaunching real estate and housing units ETFsLaunching of two commodity ETFs on saffron

Spot Market Development DepartmentRunning the feasibility study on using CDR as collateral for the physical commodity suppliers Launching new CDRs on various commodities

Economic Studies Department

Mapping the model and drafting the SPS trades on housing unitsMaking revisions to the auction platform mechanism and running of the revised editionDeveloping the retail-market platformDeveloping the tender trades platform as a sub-division of the spot marketLaunching of repo trades based on warehouse warrantsLaunching of the training portal of the IME websiteOutlining and executing the process of training, evaluation and granting training permition to the brokersDrafting and implementing the education rating system for the brokers

Planning and Performance Assessment DepartmentRedesigning and updating the risk management module of the IME

Address : No. 351, Taleghani St., Vali Asr Ave., Tehran, Iran

Tel : +98 (21) 8564 0000 - 2

International Relations Department : +98 (21) 8564 1022, 1028, 1029

Website : www.ime.co.ir

Email : [email protected]

Twitter : @IranExchange

Iran Mercantile ExchangeAnnual Report 2020

Publisher : Iran Mercantile Exchange (IME)Advisers : Dr. Hamed Soltaninejad (IME CEO),Dr. Hossein Mohammadi (CBDO & Senior Adviser to CEO) Editorial Board : Mohammad Reza Tahmasbi, Amin NajariDesigner : Akram AsadiPhotographer : Sajad Razm

With special thanks to Dr. Alireza Naserpour (Deputy of Market Development &

Economic Studies of IME) and Dr. Mahdi Massahi (Economic Studies Manager of

IME) for their technical contribution to this edition.

Dr. Hossein Mohammadi

Senior Advisor to CEO and CBDO

Tel : +98 21 85 64 1002-1003


Mohammad Hasani Sa’di

International Affairs and PR Manager

Tel : +98 21 85641020


Mohammad R. Tahmasbi

International Relations

Tel : +98 21 85 64 1022


Amin Najari

International Relations

Tel : +98 21 85 64 1029


International Relations Department

Address: No. 351, Taleghani St, Vali Asr Ave, Tehran, IranEmail: [email protected]

Website: www. ime.co.irTwitter: @IranExchangeTel: +98(21)85640000-2

Documents

Iran Mercantile Exchange - en.ime.co.ir