Dr. Shapour Mohammadi highlighted the SEO’s new programs in a press conference held in the headquarters of the SEO on September 10th, 2016.
Dr. Mohammadi stressed that the Iranian capital market will undergo a dramatic upgrading in its IT and technological infrastructures including upgrading trading engine, post-trade system and suchlike. One of the systems to be launched very soon is the messaging system to send notifications and messages to the trading account holders so that they are updated on the latest status of their transactions.
Another point of cynosure, according to Dr. Mohammadi, will be easing and abrogating the red tape and unnecessary procedures in the daily work of the capital market. The SEO will detect the chores and regulations which can be eradicated for the betterment of the processes. Some objectives are to achieved soon such as facilitating and easing the listing procedures of new companies, speeding up the establishment of investment funds, or deregulation and optimizing the current regulations.
Introducing new instruments and financial institutions is on the top of the working agenda of the SEO so that both domestic and foreign investors enjoy more variety and diversity. Dr. Mohammadi gave some relevant examples, one of which is the development of different types of Futures and Options in the equity and commodity markets within the current Iranian year.
Moreover, Dr. Mohammadi pointed out that the SEO is planning to devolve part of its work to the other capital market entities. The SEO will very soon devolve the educational programs and exams to the Securities and Exchange Brokers Association (SEBA).
In line with the program to have more cooperation with the domestic authorities and organizations, the SEO will cement and expand its collaboration with significant domestic authorities and organizations such as the Central Bank of the Islamic Republic of Iran (CBI), Parliament, and ministries. Dr. Mohammadi believes that the entire players in the capital market will benefit from this tight cooperation. Dr. Mohammadi told the press that the investors, especially the individual investors, will be more protected following the latest standards of IOSCO.
Reinforcing data dissemination and disclosure to have more transparency is another point the SEO will try to achieve soon. The SEO will have the entire listed companies issue their statements monthly and from the next year on the big listed companies are obliged to report based on IFRS.
The capital market will play a more paramount role in financing and the SEO will accordingly do its best to add more attractiveness to the market in terms of development of new instruments, enhancing the standards, renovating the infrastructures, equal treatment of domestic and foreign investors and more market-making, said Dr. Mohammadi.