TEHRAN- The value of trades at Iran Mercantile Exchange (IME) rose 52 percent in the past Iranian calendar year (ended on March 20, 2019) from its previous year, Tasnim news agency reported.

As reported, the worth of trades at three markets of IME, i.e. physical market, derivatives market and financial market, hit 1.786 quadrillion rials (about $42.5 billion) in the past year.

Over 24.84 million tons of commodities valued at 884.3 trillion rials (about $21.05 billion) were traded at the physical market of IME, showing seven percent fall in the amount and 77 percent rise in the worth of trades year on year.

IME, a commodities exchange located in Tehran, was founded in 2006. IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. It is mainly a domestic or regional market with the aim to become more international in the future.

As of 2014, about one fourth of IME's commodities were exported. IME offers a variety of services, including providing access to the initial offering of commodities, pricing for Iran’s Over-the-Counter (OTC), secondary markets and end users, providing a venue for government sales and procurement purchases, facilitating a trading platform and user interface, providing clearing and settlement services, risk management, technology services, and training of market participants.

MA/MA