TEHRAN- Iran’s Securities and Exchange Organization (SEO) has applied for the membership of the International Organization of Securities Commissions (IOSCO), according to Mohammad Fatanat, the president of SEO.

Fatanat made the remarks in a meeting with directors of the country's capital market on Saturday, the Mehr news agency reported.

The official announced that the SEO has invited to take part in the 41st annual conference of the IOSCO, which will be held from May 8 to 12 in Peru, where the SEO will submit its application for the membership.

The Iranian stock market is rather well diversified compared to other markets in the region with more than 30 sectors being present on the equity market. 

Some $1 billion in foreign money - equal to five percent of all money in frontier markets - may be directed to Iran’s stock market in 2016, according to analysts.   

MA