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Steps to Issue Trading Codes

Steps to Issue Trading Accounts

The Process of Issuance of Trading Accounts

1. The general transaction accounts shall be issued by the admission official, and the specific transaction accounts of the product category and the product shall be issued by the Committee.

2. Issuance of General Transaction Accounts:, Within 24 hours at the most from the broker's submission of complete documents of the customer, the  admission official shall be required to issue the general transaction account for the customer or inform the broker of inadequacy of the documents produced.

3. Issuance of Specific Transaction Accounts for Products and Product Categories: Within at most 15 days from the broker's submission of customer's documents, the secretary to the Committee shall be required to provide the Committee with his expert report comprising his opinion on satisfaction or dissatisfaction of the conditions for granting the specific transaction account of the product or product category along with the respective documents.

4. Within at most 15 days from receipt of the respective report and documents, the Committee shall be required to inform the applicant of its written opinion along with the reasons for granting the specific transaction accounts of the product or product category; and where the application is rejected, the customer may inform the exchange of his objection within at most 10 days from the date at which  the Committee's decision is disclosed to him.

5. Results of decisions and considerations of the Committee vis-à-vis each of the cases referred to shall be set out expressly in body of the minutes. Records and documents of the Committee's minutes shall be retained and, if necessary, provided to the authorities concerned.

6. All Iranian and foreign businesses and corporations may deal products at the exchange and hereby receive transaction accounts.

7. The Committee shall hereby be required to identify the former customers of the exchange who have received transaction accounts. The customers who are contacted under this paragraph shall submit the required documents to the exchange within 3 months at most; otherwise, the Committee may deactivate their accounts.

8. Director of ICT Department of the exchange shall be required to predict some measures for retention and maintenance of the documents relating to identification of the exchange customers. He shall further impose some limitations on the transaction system of the exchange under this Instruction or as required by the Committee.

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Offering Bitumen, Sulfur, Lube Cut Oil and Insulation on Export Ring

Offering Bitumen, Sulfur, Lube Cut Oil and Insulation on Export Ring

On Tuesday, November 21, 2017, the export ring of Iran Mercantile Exchange will experience offering of 7,920 MT of bitumen products, 1,092 MT of insulation, 500 MT of lube cut oil, 10,000 MT of sulfur lumps as well as 5,500 MT of granulated sulfur.


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Offering Slab and HRS on Monday

On Monday, November 20, 2017, the metal and mineral trading floor of Iran Mercantile Exchange will play host to offering of 18,000 MT of slab from Khuzestan Steel Co. and 4,400 MT of HRS from Mobarakeh Steel Co.


Exporting 47,000 tonnes on Bitumen through IME

Exporting 47,000 tonnes on Bitumen through IME

On Saturday, November 18, 2017, the export ring of Iran Mercantile Exchange witnessed trading of 47,405 tonnes of bitumen as well as 100 tonnes of insulation.


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