Unlike the preceding years, the TSE experienced a bearish trend in the year 2005, mostly due to outside and political elements; specifically the US threat on Iranian peaceful nuclear programs and presidential election. Key statistical figures in 2005 as compared to the figures for 2004 are as follow:
- TEPIX decreased by 24.25% from 13,543.25 to 10,258.91.
- Financial Index decreased by 40.80% from 42,482.62 to 25,150.59.
- Industrial Index decreased by 21.76% from 10,169.97 to 7,957.47.
- TEDPIX decreased by 15.88% from 34,263.53 to 28,821.77.
- TSE-50 decreased by 24.16% from 1,003.54 to 761.08.
- Market Capitalization decreased by 17.60% from $46,995.06 to $38,723.81 million.
- Volume of trades increased by 27.12% from 13,123.62 to 16,683.01 million.
- Value of trades decreased by 40.88% from $13,304.47 to $7,866.25 million.
- The number of listed companies increased by 21 new listings to a total of 420. Some 12 companies have de-listed for the first time.
- Number of trades decreased by 1.20% from 2,225,940 to 2,252,972.
Meanwhile, the TSE has performed a series of development plans for market administration, regionalization, protecting shareholder rights and investors’ confidence. A brief summary of TSE’s measures can be described as follow:
- Introducing new By-laws for:
- Corporate Governance,
- Transaction of Rights,
- Settlement of securities at T+1 instead of T+3.
- Signing agreement with “Atos Euronext Market Solutions” to purchase the most updated trading engines and related applications.
- Final approval of the by-law for “Foreign Portfolio Investment”.
- Inauguration of more Regional Floors countrywide.
- Directions for listing of listed companies’ “Participation Certificates” have been enacted and the first one has been listed.
- Hosting international seminars and workshops, including:
- Seminar on “Turkey’s Brokerage Networks”,
- Seminar on “Market Makers”, with the invitation of experts from “van der Moolen”, the world’s largest market making institution.
- Hosting the 11th Annual General Assembly, Working Committee and Executive Committee of FEAS in Shiraz.
- Final approval of the new Capital Market law which is going to replace the first and 40-year old Law. Based on this new law, the TSE will be re-structured and will go incorporated.
- Appointment of Dr. Ali Salehabadi as the new Secretary General in November.
