TEHRAN – Head of Iran’s Securities and Exchange Organization (SEO) Majid Eshqi has said the guidelines and regulations related to market-making activities at Tehran Stock Exchange (TSE) should be amended.

Speaking at a meeting of the Iran Chamber of Commerce, Industries, Mining and Agriculture (ICCIMA) Stock Market Committee on Monday, Eshqi also emphasized the need to introduce more goods to the Iran Merchandise Exchange (IME), and to stop interference in the stock market, the ICCIMA portal reported.

During the meeting, the members of the mentioned committee and the SEO head discussed recent issues in the stock market and exchanged ideas for resolving such issues.

Regarding the activities of market makers, the attendees underlined the need for revising market-making guidelines and stressed the importance of defining a transparent income system for this sector.

Creating the necessary technical infrastructure for the implementation of algorithmic transactions in the capital market and holding think-tank meetings between market supervisors and market makers were also among the topics discussed at the mentioned meeting.

As for the IME, focusing on cultural issues, providing clear and accurate information about the merchandise exchange, strengthening IME, introducing more commodities into the market and empowering it at the world level, focusing on the proper management of available liquidity, forming an expert group to review the experience of other countries, supporting the participation of knowledge-based companies in the IME and creating transparency in this area, developing commodity funds in the market, and establishing a strong law in order to deal with ordered pricing and interference in the market processes were the most important issues raised in the meeting.

At the end of the gathering, Eshqi emphasized the need to attend the ICCIMA meetings to learn about the issues and problems that exist in the capital market, and suggested: “To deal with the problems, it is necessary for the ICCIMA representatives to communicate with SEO and experts in the field.”

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Photo: SEO head Majid Eshqi (R) and Head of ICCIMA Stock Market Committee Mojtaba Karevan