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SEO Vows to Improve Data Processing Soon

The Securities and Exchange Organization is preparing to launch plans that would accelerate data processing and shorten the time needed for transactions, a top official said.

Since the lifting of sanctions, the financial regulator has been trying to ease market regulations. It already formed a group of experts who work to improve the instruments and software being used on the stock market.

SEO Chief Dr. Shapour Mohammadi said his organization has done its best to remove the red tape and address the problems facing companies that might happen to violate the regulations.

“New instructions will be announced soon so that a given ticker symbol cannot be closed for a long time,” he added, referring to the ticker symbols which had remained closed for several months.

The regulator bans companies from trading their shares if they violate certain regulations. The punitive measures could end up in big losses, critics argue.

“The ticker symbol problem will soon be addressed,” he said.

Dr. Mohammadi further said that the experts are also working to improve the regulations pertaining to base volume and trading range, the two rules which investors have complained about very frequently.

The trading website of the stock market must also be improved and the fees charged by the SEO need to be cut, he said, assuring brokerage firms that the fees they charge will remain untouched.

“We are negotiating with tax authorities to cut the 0.5% tax market investors are paying,” he added.

The regulator has also tried in the last year to increase transparency of sales. All listed companies currently release their trading reports more in a more transparent way than before, he noted.