Hamed Soltaninejad addressing the conference outlined five main subjects as “An Introduction to Trading Instruments of IME”, “IME Functionalities in National Economy”, “A Glance at Iron Ore and Steel in World Commodity Exchanges”, “Iron Ore and Steel in Iran Mercantile Exchange” and “Models of Employing Exchange Instruments in Steel Industry”.
First he referred to the Introduction to Trading Instruments of IME and said after passing more than 14 years if IME’s activity, there are a broad range of instruments based on various tools in this exchange so that after launching cash, credit and forwards contracts during the early years of IME’s activity, newly a plenty of developed instruments such as standard parallel SALAM contracts, certificate of deposit, futures and options contracts have been launched in the IME.
Soltaninejad added: from the establishment of IME on 2007 till the end of 2016, a total of $4b financing have been provided for industries through SALAF contracts on IME. Also, through the standard parallel SALAM contracts $1.5b financing is provided for different industries.
He pointing to the establishment of warehouse management system in the trading of certificates of deposit is in the agenda of IME, said that so far, 80 warehouses for trading agricultural commodity is listed in the IME and there is the same capacity in the metals area.
Soltaninejad stated that directing capitals to production sectors, modernizing trading methods, establishing a logical and systematic relation between commodity and financial sectors, expansion of capital market are among the main functionalities of IME that to meet these functionalities development of financial instruments, trade facilitation and hedging are included in the agenda.
Soltaninejad pointed to the approaches of IME and stated that proper resource allocation, bridging the gap between traditional and modern market structures, domestic markets development and introducing new trading instruments and renovating commodity and financial markets’ infrastructure are the main approaches of IME and to reach this approaches will demand smooth flow of transactions, lowering trade costs, increased transparency, higher rate of transactions.
Published on: Friday, February 17, 2017 09:09 AM
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