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On 6th December 2010, fourth anniversary ceremony of Tehran Stock Exchange (TSE)'s demutualization was held in the Exchange's premises.
TSE has witnessed continuous growth in terms of market cap and indices trends in the recent years. During the past decade, TSE's market capitalization and broad return index increased in an average annual rate of 29% and 32%, respectively. TSE guarantees transparency, integrity and confidence for the investors.
Dr. Hassan Ghalibaf Asl, TSE's CEO had a speech in the ceremony. The following points are the future projects of the Exchange's development and excerpts from his speech:- Finalizing TSE's 5-year strategic plan under the vision of "An Excellent Exchange in the Region and a Driver for Economic Growth in the Country".
- Approving derivatives regulation by Securities and Exchange Commission of Iran (SEO) in the middle of the current year provided by TSE and launching of single stock futures market at July 2010, as well as plans for introducing options market in early 2011.
- Revising TSE's Share Trading Directive; a web survey was carried out to collect the market participants' attitudes about various aspects of this amendment. Some issues such as closing auction for determining the closing price and circuit breakers were added to the directive.
- Introducing new Blue Chip Index (TEFIX30) on August 2010. TEFIX30 will track 30 leading companies at TSE in terms of free-float market capitalization and liquidity, and measures the performance of these companies.
- Launching Direct Market Access (DMA) on July, 2010. The DMA is currently in a form of E-trading on the securities market, directly linking the trading systems to some of the investors. By means of this linkage, an investor may place orders directly with the broker's trading system without human interference from the brokerage firm. Orders are automatically checked by the broker's risk control system and routed to the Exchange's matching system for execu on. There are currently 49 brokers providing investors with this system for trading.
- Removing limitations and facilitating repatriation on foreign investment at TSE since April 2010.
- Starting construction of TSE's new building on September 2010. The new building located in the northwestern part of Tehran will be a modern building which meets the standards of an updated capital market.
Tehran Stock Exchange was established in 1968, and has been the primary equi es market in Iran. In 2005, Securities Market Act of Iran approved by the parliament and in 2009, according to this Act, TSE was demutualized and established as a joint stock company with +6,000 shareholders and a seven-member board including brokers, financial institutions and individuals.
TSE has enjoyed a reputation for having maintained an orderly market and a cost-effective trading capability since its inception.
The fully computerized trading system has helped boost the trading capacity and efficiency of the stock market. In 1994, electronic trading system was launched and in 2007, TSE moved to the powerful trading system (powered by Atos Euronext) for meeting its high trading volume.
TSE has been awarded by the Quality System certificate of ISO9001; 2008 and also has planned to obtain ISO27001 cer fica on for its IT Security Management System.
