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Iran Mercantile Exchange joins IEU

Business Materials 17 November 2014 18:23 (UTC +04:00)

Tehran , Iran , Nov. 17

By Milad Fashtami - Trend:

Iran Mercantile Exchange (IME) has officially joined the Interexchange Electronic Union (IEU).

The members of IES signed the agreement at the second annual meeting of the IEU in Tehran, Iran's IRNA News Agency reported on Nov. 17.

The event was held in Tehran on November 15-16.

Interexchange Electronic Union is a non-commercial electronic union by the participation of exchanges as legal entities and acts in an electronic infrastructure, Iran's Fars News Agency reported.

The IEU is an international Union, which attempts to connect CIS (Commonwealth of Independent States, a regional organization whose participating countries are former Soviet Republics ) and Eastern Europe commodity exchanges. The IEU has requested the membership of the IME in the union.

The IEU includes Commodity Exchange of Armenia (Yercomex), Belarusian Universal Commodity Exchange (BUCE), Kazakhstan Commodity Exchanges ICEX and CEX, Kyrgyzstan Commodity Exchange (KUCEX), Ukraine Commodity Exchange (UCEX) and Agricultural commodity Exchange of Ukraine and two commodity distribution systems from Armenia and Belarus .

The IME was established on September 20, 2007 in accordance with article 95 of the new law of the Securities Market of the Islamic Republic of Iran and following the merger of the agricultural and metal exchanges of Tehran . The merger marked a new chapter in Iran capital market providing endless trading opportunities for the clients in and out of the country.

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