TEHRAN – Iran’s largest and most advanced capital market data center was officially opened in a ceremony on Sunday, IRIB reported.

Held at the place of the Tehran Stock Exchange (TSE), the opening ceremony was attended by Head of Securities and Exchange Organization (SEO) Majid Eshqi as well as SEO board members and senior managers active in the stock market.

The center has been established with the aim of stabilizing and developing technology infrastructure in all areas of processing, storage, and security in order to protect the interests of shareholders and meet the technological needs of the capital market.

As reported, this data center is an effective step in reducing security risks, developing electronic and intelligent services in the capital market, while providing the necessary platform for future development plans.

Providing data to brokers and order management systems (OMS) are also among the services that can be provided by this operational data processing center.

Back in October, Eshqi had outlined new strategies and programs for the country’s stock market during his tenure among which supporting investors, creating a transparent, efficient, and equitable market, as well as reducing inclusive risk based on the market’s broad objectives can be mentioned.

Eshqi had stressed the use of modern technologies and mechanisms to increase public access to market data as a major strategy in this regard.

According to the SEO head, another strategy would be amending the market’s rules and regulations to increase justice and accountability, while strengthening the medium- and small-scale level financing through new mechanisms.

“Diversification and promotion of the capital market (in terms of market, tools, and institutions), increasing the transparency and quality of information published in the capital market, reforming business processes and increasing the efficiency of financial markets, development of financial institutions and de-monopolization, development and strengthening of technical infrastructure, facilitating and clarifying the issuance of licenses in the capital market and the development of the debt market and increasing its liquidity will also be pursued,” Eshqi explained.

EF/MA