Iran’s Mercantile Exchange (IME) increases its value by 60% in the last 9 months.
IME is a commodities exchange located in Iran’s capital Tehran. Founded in 2006, the IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. It originally started as mainly a domestic or regional market but has now grown to become the Middle East’s largest and highest value commodities market.
IME’s Deputy of Operations talked about the various reasons for past years huge spike in trade volume.
The IME has grown internationally and is registered with both The Federation of Euro-Asian Stock Exchanges (FEAS) is a non-profit international organization comprising the main stock exchanges in Eastern Europe, the Middle East and Central Asia and the Association of Futures Markets (AFM).
Mr. Namdari further explained despite the recent illegal unilateral sanctions by the US and some of its allies against Iran especially its oil and banking sectors, IME increased its trade by volume by 19% since March of 2013.
Since March the IME has traded over 17 million tons of commodities while over 4 tons were traded internationally. Reporting for Press TV, Amir Hossein Eskandar in Tehran.