Latest news since the reopening of the Magenta symbol
According to Trade News, quoting TasnimMeysam Fadaei, referring to the performance of Iran’s OTC markets last year, said: “The offer of Esteghlal and Persepolis clubs, along with the efforts of this exchange to increase the liquidity of the capital market, have been among the notable OTC measures during the last year.”
The CEO of OTC Iran added: “Considering the ambiguities of the capital market, including issues related to the budget, as well as stability in decision-making in various fields, we have seen stability in the capital market since the beginning of this year, so that the OTC index has grown by more than 12%. If the variables related to the capital market do not change, we will see the continuation of the current trend.
A 6% increase in the volatility of the primary market was a good experience
He acknowledged: “In December of last year, meetings were held to increase the volatility of the symbols and initial decisions were made to gradually increase the volatility, and of course the main condition for increasing the volatility was to reach a balanced capital market; Fortunately, with the removal of stock market ambiguities and reaching balanced conditions this year, specialized meetings were held in this field, and finally it was decided to increase the range of fluctuations of the first stock exchange and OTC markets to 6%.
Fadai added: “This is while since the range of fluctuation has been applied in the market for almost two decades, it was suggested to add one percent to the first stock exchange and OTC markets, and after 3 months of experience and receiving and reviewing expert reports on the continuation of this process.” To be decided.
The CEO of OTC Iran stated: “One week of experience of increasing volatility in the stock exchange and OTC markets shows that in many trading hours in symbols whose volatility has increased, significant buying and selling lines are not seen and we predict that with increasing One or two steps of the volatility range in the first market In the coming months, there will be almost no serious buying or selling queues in these markets and we will see a liquid market.
The opening time of the Magenta symbol is currently unknown
Referring to the underwriting of Esteghlal and Persepolis clubs in March of last year, he said: “This event was a new experience for the capital market, which resulted in underwriting resources going into the clubs to reform the structure.” Also, meeting the AFC requirements and the financial transparency of the two clubs has been appropriate.
Fadai while successfully reading the underwriting MagentaNoting that we did our best to get investors to attend the underwriting with open eyes, regarding the reopening time of the symbol Magenta On the OTC market, he acknowledged that the process of increasing Esteghlal’s capital in the Companies Registration Office has been completed, but that the increase in the capital of Persepolis Club is still ongoing.
Accordingly, we should not rush to open the symbol of these two clubs and we should try to send more transparency from them to the capital market. At the same time, these clubs must apply for the reopening of the symbol, and issues such as securing their marketing resources must occur in order for the symbol of Esteghlal and Persepolis clubs to be reopened in the capital market.
Latest news of the reopening of Bank D symbol
The CEO of OTC Iran also acknowledged: “We had a lot of follow-up regarding the reopening of the symbol of the two banks D and Ayandeh and other symbols stopped in OTC, and we succeeded in reopening the symbol in some of these symbols, including” Wembleh “.
Regarding Bank D, there is the issue of approving the financial statements of this bank, which due to the importance of this issue, we tried to have maximum cooperation to receive the financial statements and reopen this symbol; So that at the beginning of this week, we had a meeting with the Deputy Supervisor of the Central Bank to solve the problems of reopening the symbol of Bank D.
He pointed out that the OTC proposal has recently been given to the Exchange Organization to reopen this symbol, adding that both the Exchange Organization, the Central Bank and the OTC are doing their best to reopen the symbol properly, but at the moment it is not possible. He announced the exact time for the reopening of the D and Future Banks symbol.
Resolution related to investment advisors on the table of the Exchange Organization Development Committee
Regarding the selection of investment consulting companies in corporate meetings to comment on the financial statements of companies and subsequently increase the level of analysis in the capital market, Fadaei said: The financial information has been analyzed, prepared, and even the fees received and such details have been discussed and referred to the Organizing Committee of the Exchange Organization.
The latest news from the initial public offerings of OTC
The official said that the initial public offerings should be made in accordance with the conditions of the capital market, because these offers have their own effects and consequences. The secondary has grown and the primary market must also be considered.
Accordingly, in that year, a large number of companies were admitted to the stock exchange and OTC. Of course, after that, we saw a sharp decline in the market, when the initial supply of these companies was interrupted. In this regard, in the last two months, we have reached the end of the renewal period, and now most of our approvals during the last two months have ended with issues related to the extension and introduction of symbols.
He mentioned companies such as Transportation of Gohar Trabar Sirjan, Frosilis Khomein and Ghadir Iranian Steel as companies in the line of initial public offering in OTC and added: “Therefore, to manage this issue, and because of the large number of initial public offerings to the capital market.” Do not push, most of these offers are to be allocated to funds.
The OTC trading core was not hacked
The CEO of OTC Iran also pointed out that the OTC trading system had a problem at the beginning of this year, said: “The issue of hacking the trading system did not happen that day and is not raised, but this system was disrupted.”
He said that the Tehran Stock Exchange Technology Management Company is in charge of maintaining the trading system and the stock exchange and OTC are receiving services from this company, he said: in the early days of this year, hardware problems had caused a significant amount of information in this system There is no processing, and this has caused problems for transactions, although the necessary measures have been taken to prevent such events from happening.
Fadai added: “The current trading core does not have the traction of some trades, especially in the field of derivatives, and the existing system is only for cash sales, and we hope to have a new trading core in the capital market by lifting the restrictions.”