Baku, Azerbaijan, Oct. 28
By Fatih Karimov - Trend: Tehran Stock Exchange and Istanbul Stock Exchange signed a memorandum of understanding (MOU) to expand cooperation.
The MOU was signed during a visit of officials of the Tehran Stock Exchange and the Securities and Exchange Organization of Iran to the Istanbul Stock Exchange, Iran's Fars news agency reported Oct. 28.
On the sidelines of the signing ceremony, Hassan Qalibaf Asl, managing director of the Securities and Exchange Organization of Iran, urged Iran and Turkey as the two neighboring countries with high potentials should share experiences in the capital market.
Istanbul Stock Exchange CEO Tuncay Dinc said for his part the MOU would pave the way for intense cooperation between the two exchanges and mobilize them to explore joint business development opportunities.
The MOU entails exchange of information and expertise, exchange of staff, organization of joint events and development of dual listing opportunities.
The Istanbul Stock Exchange, with historical roots going back to 1873, is a diversified regional exchange in Turkey, providing trading, settlement, custody and registry services for equities, derivatives, precious metals and Islamic finance markets.
Tehran Stock Exchange was established in February 1967. It is Iran 's oldest and largest securities market. It joined international entities like World Federation of Exchanges and Federation of Euro-Asian Exchanges in 1990s.
Edited by CN