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IME Quarterly Newsletter (Fall 2015) IME QuarterlyIran Mercantile Exchange Quarterly Newsletter Fall 2015 , Vol. 2 IN THE NAME OF GOD 5 Editor’s Post 6 CEO’s Post 8 Introduction to IME 10 General News 12 IME CEO Awarded at the International PR Symposium 12 IME and the Capital Market in the Post-sanction Economy 13 Investment Banks Briefed on IME Developmental Plans 14 International Relations and Events 16 IME Attends 21st FEAS AGM in Isfahan 16 IME Invited to the SSE Global Dialogue Forum 17 IME-ICIS Collaboration on Publishing Polymer Prices 17 IME Holds Webinar on Currency Derivatives with KRX 17 The Greece and Turkey Financial Market Delegates Visit IME 18 A Visit of the Russian Sort 18 IME Attends 11th CFA International Derivatives Forum 19 Foreign Exchange Futures Market 20 The Necessity of Establishing Foreign Currency Futures Contract 22 The Launch of the Currency Exchange Without Having to Lift Sanctions or Having Unified Exchange Rate 24 Central Banks Interventions in FX Markets 28 Markets 30 Petrochemical Market 32 IME-NIPC Close Relations: A Symbol of Cooperation between the Production and Trade Sectors 33 Trading of PVC Standard Salam Contracts in IME 34 Metals and Minerals 36 26 Million USD, Trading Value of the Iron Ore Standard 36 IME Financial Services to the Steel Industry 37 B2X; an Approach to Curtail Production-Consumption Intervals 38 Agricultural 40 The Article 33, Booster of Agricultural Trades in IME 42 Top Suppliers in IME 44 Esfahan Mobarakeh Steel Company 46 Jey Oil Refining Company 48 Statistics IME Quarterly Iran Mercantile Exchange Quarterly Newsletter Fall 2015 , Vol. 2 Publisher: Iran Mercantile Exchange (IME) Adviser: Dr. Hamed Soltaninejad IME COE Editorial board: Mohammad Reza Tahmasbi, Zahra Rahmati, Nima Rajabi, Amin Najari Design: Mohsen Hadi, Nima Rajabi No 351, Taleghani St, Vali Asr Ave, Tehran, Iran Tel: +98(21)8564000-2 International Relation Dept: +98(21)8541024-29 www.ime.co.ir Email: [email protected] IME 4 Quarterly Fall 2015 , Vol.2 s we are our impressive operation approaching the brought about brilliant ANew Year’s Eve outcomes. Gains have and autumn is nearing been remarkable enough its end, I would like to to be considered as the take the opportunity to solid evidence for us recap the exciting past having accomplished our three months of the IME mission successfully as the activities in collaboration dedicated provider of with the domestic and the modern and efficient international stakeholders trading infrastructures. and partners in the It is gratifying that the framework of the second global financial and edition of the IME commodity industries’ Quarterly. The January willingness to invest in issue of the IME’s bulletin the IME contracts and is comprised of three transactions has taken parts: general news, a positive turn during international events and this period. Given that market developments most of the sanctions will and financial instruments. have been lifted by that time, we expect this to During the past quarter continue into 2016. IME Fall 2015 , Vol.2 Quarterly 5 IME, in the Direction of Development, Prepared to Collaborate with International Market Players n image of the in direction of financial establishment of the Earth was recently markets development, currency exchange has Areleased on social bolstering the financial been approved by the networks drawing each markets as its first priority. High Council of Exchange world country as big as Due to the trading and the required the size of its financial infrastructures of the trading infrastructure market. The idea of the IME in the physical has been developed; illustrator suggested how market as well as the and it is planned to be amazingly the size of a economic advantages opened after making the country varied when and potentials of the necessary coordination compared to the financial Islamic Republic of Iran, with the Central Bank. size as a measure. the development of the Interestingly, by this financial market in the As the country measure, small countries areas of petrochemical approaches to the lifting who enjoyed a large and petroleum products of sanctions, economic financial market turned has been put on openness and facilitation out to become even the agenda of the of international trade, larger than geographical exchange. Financial the IME works out plans large countries. Today, market development, to expand its activities countries endeavor to especially in asphalt and at international level. achieve a proper position petrochemical products Development and in the world’s economy can open a new avenue expansion of the export through expansion of for the participation of trading floor (Export Ring) the financial markets. In international players in of the IME, aimed at other words, the financial Iran Mercantile Exchange. boosting trade through markets will manifest the promoting the fringe power of the countries In addition to the benefits of trading in the in the near future. Due expansion of the IME, can be highlighted to this necessity and financial market of the among the priorities in the owing to the worldwide petrochemical and post-sanction era. movement towards petroleum products, the expanding the financial launch of the currency Financing exports through markets, Iran Mercantile futures exchange international finance Exchange has crafted its will be realized in this institutions, international future development plan period. At present, the marketing specially in the IME 6 Quarterly Fall 2015 , Vol.2 field of petrochemical products, as well as using the worldwide network of warehouses in order to use commodity certificate of deposit and warehouse warrant systems are also projects through which the foreign trade of Iran will be promoted relying on the quality of Iranian products and brands; to this end, important steps will be taken in the future. Dr. Hamed Soltaninejad Iran Mercantile the IME CEO Exchange, in the new era of its economic activity, is highly interested in constructive interaction with the economic agents of states, financial institutions, commodity exchanges, businesses, traders and economic players of countries around the world; and to this effect, firmly supports cooperation and warmly welcomes collaborative and durable economic relations. IME Fall 2015 , Vol.2 Quarterly 7 IME, Driving National Trade and Development aunched in 2007 by in the spot market and commitment to the merger of metal hedge or gain profit by providing innovative Land agriculture accepting risk in the financial tools and risk- commodity exchanges, derivatives market. management solutions Iran Mercantile Exchange to the marketplace, Iran has developed to The IME Export Trading Mercantile Exchange the leading and most Floor (Export Ring) in also offers a wide array transparent and diverse the Persian Gulf offers of exchange-cleared spot and derivatives the worldwide traders instruments like futures, marketplace in the and end users the parallel and standard MENA region handling, widest range of global Salam, commodity on average, 25 million benchmark products certificate of deposit and tonnes of all asset across all major asset warrants. The exchange classes from industrial classes, including asphalt is planning to launch to petrochemical and and bitumen grades currency futures as its petroleum as well as as petroleum products, flagship derivatives agriculture products iron ore and minerals as contract in the very near worth approximately well as chemicals and future. 14 billion USD annually. polymers. The prices The company provides of the export ring are The IME clearing house a trading platform quoted as reference renders spot and for buyers and sellers, by the renowned derivatives clearing and bringing together international price risk management services industries, trade and vendors and publishers through electronic platform economic sectors, including Argus, ICIS and acting as the counterparty individuals, companies Metal Bulletin. to every trade to protect and institutions that trade the market integrity against physical commodities As part of the exchange third-party credit risks. IME 8 Quarterly Fall 2015 , Vol.2 IME Fall 2015 , Vol.2 Quarterly 9 Photo: S.Faraji Photo: S.Faraji IME and the Capital Market in the Post-sanction Economy he Post-sanction Economy Confer- ence, held in November in the Persian TGulf resort of Kish Island, was attended by the capital market entities and institu- tions in order to explore solutions to boost the national economy in the post-sanc- tion era. During the forum Dr. SoltaniNejad touched upon various issues including the foreign investment and stressed the need to have more diversified risk management and hedging tools to safeguard the inves- the IME on the 11th International Symposium of Public Relations tors against volatilities in the market. IME CEO Awarded at the The IME CEO maintained that since the exchanges are organized markets and International PR Symposium operate in compliance with the rules and he eleventh edition of the Internation- regulations, they are al Public Relations Symposium recog- considered by the for- Tnized the IME CEO among the best eign investors as the PR-friendly Business Leaders of Iran. During first choice of invest- the awarding ceremony held at Niroo Re- ment after easing the search Institute on December 15 in Tehran, sanctions, so the au- Dr. Hamed SoltaniNejad, CEO of Iran Mer- thorities should in no cantile Exchange, was praised and named time pave the ground by the jury as one of the top 7 communi- to link the real econ- cation and PR-centered
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