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Tehran Stock Exchange, Borsa Istanbul sign deal on derivatives

Staff writer |
A memorandum of understanding has been inked between the Tehran Stock Exchange and the Borsa Istanbul stock exchange in order to facilitate the opening of foreign markets.

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Tehran Stock Exchange CEO Hassan Ghalibaf Asl said some Iranian firms operating in the copper, petrochemicals and automotive sectors want to go public on the Borsa Istanbul.

The agreement, which was signed after five months of negotiations, includes the trading of mutual products on both stock markets.

The main objective of the agreement is to open both stock markets' derivative products, including investment funds and interest-free debt instruments, for transactions on each other.

Borsa Istanbul CEO Tuncay Dinc said the stock market offered an official invitation to the Tehran Stock Exchange for cooperation, and this step, which was taken before sanctions are removed on Iran, will set a good model.

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