This department consists of two offices and issues permits for brokers, broker/dealers and market makers. Proposing new regulations and amendments regarding relevant entities is another duty of this department. One of the main specialties of this department is to evaluate brokerage firms’ performance on a regular basis and provide rating reports which help the SEO to better grant them activity licenses. At the end of 2014 a total number of 12 different kinds of licenses were issued for brokerage operations and the number of active brokers approved by the SEO reached 101 on the TSE, 100 on the IFB, 107 on the IME and 42 on the IRENEX. Some brokers are licensed for more than one exchange.