TEHRAN- The value of trades at Iran's over-the-counter (OTC) market, known also as Iran Fara Bourse (IFB), rose 100 percent during the eight Iranian calendar month of Aban (October 22-November 22) compared to the same month of the previous year, Tasnim news agency reported.

Also the number of trades at this market has risen 77 percent during the eighth month year on year.

IFX, the main index of IFB, has gained four percent during the mentioned month from its previous month. The index stood at 3,950 in the last day of the month.

As reported, 28,500 billion securities worth 170.55 trillion rials (about $4.06 billion) were traded in the eighth month of this year.

Some 1.764 billion securities worth 9.539 trillion rials (about $227 million) were traded at the first market of IFB and 7.728 billion securities worth 50.778 trillion rials (about $1.2 billion) were traded at the second market of IFB in the past month.

Operating under official supervision of Iran’s Securities and Exchange Organization (SEO), Iran Fara Bourse (IFB) acts as a self-regulatory organization governing the activities of its brokers and members. The company was established in 2009 and its transactions officially started in four market segments on September 28, 2009.

Establishment of Iran Fara Bourse was one of the main steps for developing capital market in Iran and diversifying financial instruments traded in the securities market.

MA/MA