Tehran Stock Exchange and Iran Fara Bourse – an over-the-counter market for securities and other financial instruments in Tehran - announced changes in trading procedures as part of new directives.
The first change concerns shortening the period that a share is halted due to its fluctuations from one day to one hour.
"Stock tickers used to be halted for a whole business day for clarification purposes which blocked brokers funds", Seyyed Mehdi Parchini, TSE's market operation manager was quoted as saying by Security and Exchange News Agency.
"But as the new directives stipulate, this period is shortened to one hour within which investors are allowed to place, revise or cancel an order."
Afsaneh Orouji, Iran Fara Bourse's market operation and members manager said if the final price of shares witnesses over 50% decrease or increase for 15 consecutive days its symbol is halted and reopened after maximum two days with a "limited fluctuation range".
TSE Brokerages Reach 106
With the granting of membership certificate to Sina Brokerage Company, the number of active brokerage companies reached 106 entities, said Sharam Daneshvar, TSE's manager of members’ affairs
He said 21 new brokerages have been added since 2006 .
TSE is present in 22 regional halls that facilitate access to TSE for people across the country. He stated that brokerage companies can play a pivotal role in market development by opening branches or reception offices in the country.
Caption: The number of active brokerage companies reached 106 entities.