The Athens Stock Exchange (ATHEX) welcomed the Securities & Exchange Organization (SEO) and the Central Securities Depository of Iran (CSDI) in the Trading Day Opening Bell ceremony on Friday, 9th September, 2016.
Dr. Bahador Bijani, Vice Chairman of Securities & Exchange Organization and Dr. Mohammadreza Mohseni, CEO of Central Securities Depository of Iran announced the Opening of the Athens Stock Exchange Market.
Since January 2016, according to the implementation of the Joint Comprehensive Plan of Action (JCPOA), the Capital Market of Iran is gradually integrated in the global financial environment. In April 2016, the Securities & Exchange Organization of Iran joined the IOSCO as an Associate Member.
In May 2016 a Memorandum of Understanding with the Hellenic Capital Market Commission was signed and in July of that year cooperation agreements between the Athens Stock Exchange and the Tehran Stock Exchange (TSE) as well between the respective Depositories (ATHEXCSD and Central Securities Depository of Iran - CSDI ) were also signed.
With the cooperation agreements, the two partners aim to explore and evaluate the interest of their market participants (Members, Institutional Investors and Custodians) for:
- The development of products (e.g. ETFs, Listed Funds, etc.) that will enable the two investment communities to access the two countries' markets and get exposure on their economies.
- Cooperation in the area of infrastructures (trading, clearing, settlement, technology) in order to achieve easy market access which will allow business development and further globalization.
At today's event, the CEO of the Athens Stock Exchange Group, Mr. Socrates Lazaridis, said: "We are delighted for the opportunity to host the high level executive's delegation from Iranian Capital Market that rang the Bell for today's Opening of trading session of the Athens Stock Exchange. But mostly we are satisfied because our long term relationship is enabling us to explore and implement win-win business cooperation. Furthermore, this is giving the opportunity to our market participants to evaluate the prospects for business development and partnerships. We will continue our efforts to develop an efficient ? in terms of cost ? and effective ? in terms of investor friendliness ? environment that will allow the two markets to be attractive, liquid and globalized and all these to be implemented in a reasonable period of time."
Dr. Bahador Bijani, Vice Chairman of Securities & Exchange Organization, on the occasion of today's event, said: "Our relationship with the Greek capital market dates back to many years ago which culminated in an MOU between our two capital market regulators. We believe Greek capital market is well-established and well-structured with a promising future. Our two markets have much common ground and can facilitate the activities of the countries' investors in their host countries' capital markets. "
Dr. Mohammadreza Mohseni, CEO of Central Securities Depository of Iran, said: "This is a start to form a lasting relation between the two parties and our respective capital markets or even wider to the regional markets. I believe that this event is going to be the trigger for future plans and more cooperation. What we expect from it, is to find a basis to underpin our next steps in connecting the intended markets. "
After the Opening Bell ceremony, the Iranian delegation presented the Capital Market of Iran to Athens Stock Exchange participants.
- Presentation of Central Securities Depository of Iran.
