Will the Tehran Stock Exchange be realized following the development of the derivatives market / the demand of the capital market activists?
According to Tejarat News, the development of the derivative market and the so-called bilateralization of the capital market are among the demands of the activists, and in this regard, the Tehran Stock Exchange is seriously pursuing the development of the market of new financial instruments.
For this purpose, from the correction of market microstructures to the follow-up of the establishment of technical infrastructure, there have been actions that started in the field of derivative instruments in 1401 and will continue.
Quoted from ExchangeMehdi Zamani Sabzi, vice president of market operations, said: “Tehran Stock Exchange is seriously following the development of derivative markets through planning various programs. Right now, in order to make it possible for traders to obtain efficient trading strategies, the program “diversification in maturities by creating monthly maturities” has been started in the option market.
He added: The implementation of this program on the basic asset of the “car” stock and the definition of monthly maturities on all the basic assets, in accordance with the creation of technical and infrastructural capacities and the elasticity of the market, as the main goal of the Tehran Stock Exchange in this regard, is operational. will be.
Zamani Sabzi further stated: Despite the existing infrastructure limitations, Tehran Stock Exchange has taken steps in the direction of “increasing and diversifying basic assets” of the options market; So that right now, the plan to create option contracts on investment funds and focus on its expansion, as well as the plan to increase basic assets in the form of shares, is on the agenda of the Tehran Stock Exchange.
The vice president of market operations noted: The increase and diversification of basic assets is implemented as much as possible with the presence of active market operators, so that in addition to the quantity, the quality of the development of the derivative market is also provided by ensuring the appropriate liquidity of the symbols.
He said: Currently, the Tehran Stock Exchange hosts 26 basic assets such as investment funds and shares. In this regard, training courses have been held for market operators, and proposals to facilitate the activities of market operator funds in the options market have been sent to the Securities and Exchange Organization.
According to the Vice President of Tehran Stock Exchange Market Operations, one of the other important activities of Tehran Stock Exchange with the aim of controlling market risk and reducing the restrictions related to the creation of option contracts on new base assets, is to follow up and resolve technical and infrastructure issues related to “definition of the ceiling of open positions” » Transactions are authorized on trading groups and subgroups.
Zaman Sabzi emphasized: With the provision of this infrastructure in the option market, it will be possible to define option contracts on basic assets with a lower float. Also, the technical considerations related to this action have been carried out in cooperation with Tehran Stock Exchange Technology Management Company and OMS companies active in the option market and will be operational soon.
According to the statements of the vice president of market operations, modifying the maximum volume of each order in the options market is another development measure of the Tehran Stock Exchange in this market. It has been modified from 100 units to 1000 units.
Zamani Sabzi proposed the provision of “mechanized validation operations in the options market” as the most important development program of the derivatives market of Tehran Stock Exchange this year and added: the business design of this issue has reached its final stage and the proposed plan is the first step in The implementation phase has been sent to the brokerage companies active in the options market to collect comments.
According to him, the possibility of online verification, which will reach the exploitation stage in several development phases, will mark a revolution in the field of risk management and increase the efficiency and performance of this market.
In the end, they pointed out that special follow-ups were carried out in the field of creating the necessary technical infrastructure for the introduction of single-share futures contracts and added that with the efforts of the operations management of the new financial instruments market of the Tehran Stock Exchange, the restrictions related to this instrument will soon be lifted and the futures contracts The single share will be included in the portfolio of new financial instruments of the Tehran Stock Exchange.