Iran Mercantile Exchange
Establishment and Legal Status:
Iran Mercantile Exchange 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.
Various sectors of economy and national industry benefit from the exchange operation. The scope of the services are:
- Performing as the first market providing access to the initial offering of the listed commodities
- Price discovery and price making for the OTC, secondary markets and the end users
- Providing venue for government sales and procurement purchases
- Providing Trading platform and user interface
- Providing Clearing & Settlement services
- Risk management
- Technology services
- Training and education of the market participants
Various products and commodities are listed and traded in IME which are categorized in three classifications:
- Industrial Products and Commodities: the ferrous and non-ferrous metals such as Steel, Copper, Aluminum, Zinc and Lead in various form, dimension and sizes, different types of Cement, Coke, Precious Metals Concentrate, and other basic products are traded in the market.
- Oil Products and Petrochemicals: oil related products range from Bitumen, Base oil, Crude Oil, Fuel Oil, RPO, carbon black, chemical products and petrochemicals like PP, PE, LDPE, LLDPE, Aromatics, SBR, PS, MS, and many others.
- Agricultural: the agricultural products traded in IME range from cereals to oilseeds to oilcakes and other grains and products like wheat, feed wheat, feed barley, yellow corn, maize, raisin, lentil, chick peas, sugar, meat, eggs, saffron, pistachio, traded in the fully electronic multi-commodity trading system.
- Multi-Commodity: All agriculture products and some oil products like Bitumen, VB and Lubcuts are traded in the multi-commodity system.
- Gold Coin Futures: traded as one of the most active and successful underlying assets in the futures contracts in IME.
Offerings and Orders: Offerings are the commodities in the spot market are announced and notified 24 hours, before the trading takes place, through the exchange website www.ime.co.ir/offerings so the sellers and clients would be able to place their orders with the brokers and rest assured for trading to be matched and cleared.
In the derivatives market the clients order their trades as per specifications of the futures contract and in accordance to the order types specified in terms of order validity and the price.