Financing 20,000 billion rials by issuing oil futures on the energy exchange

According to Fars News Agency and quoting the public relations of the Ministry of Petroleum, in today’s trading on the 4th of Esfand 1400 in Iran Energy Exchange, “Saba Arvand Oil and Gas Development Company (Private Joint Stock Company)” financed the export of heavy crude oil by issuing parallel futures. Amounted to 20,000 billion rials, and thus the derivatives market of Iran Energy Exchange hosted the supply of 983,841 parallel futures contracts for heavy export oil.

These securities were offered by “Stock Experts Brokerage” company and the undertaking of its underwriting was “Kardan Capital” company. Secondary trading of these contracts starts within 10 working days after the end of the initial public offering period, and the last trading day and the maturity date of the contracts is the fourth of Esfand month 1402.

The broker of these securities is “Kardan Capital” company and the minimum accumulated order of the broker is one percent of the total volume of securities, the quote range of the broker is maximum 2 percent of the buyer’s purchase commitment and the minimum daily commitment of the trader is 3 percent of the total volume of the securities.

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