The Tehran Stock Exchange (TSE) has launched futures contracts for local buyers with seven companies officially on the ticket, Mehr News Agency reported on December 16.
The TSE said that by launching the futures market in Iran it is hoped that people deterred by falling share prices caused by dollar depreciation will continue to buy into the stock market at set future prices.
The new futures market is supported by the Central Securities Depository of Iran (CSDI), the Iranian Securities and Exchange Organization (SEO) and the TSE board.
TSE director Ali Sahraei said: "Today we launch futures for seven [companies] mainly in the auto, banking, base metals, minerals, refined products and petrochemical sectors."
He added: “The Jurisprudence Committee of the SEO has approved the regulations related to the futures and we hope to see a highly-applied derivative for hedging on the capital market.”
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