Operations
See also: Foreign Direct Investment in Iran, Tehran Stock Exchange, Privatization in Iran, and Banking in IranAt the time of the Oil Bourse's opening on Kish, the Director of the Kish Stock Exchange, Hossein Allahdadi, said that there "are no limitations imposed on transactions by foreign shareholders at the Oil Bourse in Kish".
As of 2009, the Oil Bourse was a spot market for petrochemical products mainly, with plans to introduce sharia-compliant futures contracts for crude oil and petrochemicals in the future, during the second phase. Trading takes place through licensed private brokers registered with the Securities and Exchange Organization of Iran. Any company, domestic or foreign, can list their products on the exchange for as long as they meet the listing criteria.
Global standards for Islamic derivatives were set in 2010. The “Hedging Master Agreement” provides a structure under which institutions can trade derivatives such as profit-rate and currency swaps.
Read more about this topic: Iranian Oil Bourse
Famous quotes containing the word operations:
“There is a patent office at the seat of government of the universe, whose managers are as much interested in the dispersion of seeds as anybody at Washington can be, and their operations are infinitely more extensive and regular.”
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“A sociosphere of contact, control, persuasion and dissuasion, of exhibitions of inhibitions in massive or homeopathic doses...: this is obscenity. All structures turned inside out and exhibited, all operations rendered visible. In America this goes all the way from the bewildering network of aerial telephone and electric wires ... to the concrete multiplication of all the bodily functions in the home, the litany of ingredients on the tiniest can of food, the exhibition of income or IQ.”
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“It may seem strange that any road through such a wilderness should be passable, even in winter, when the snow is three or four feet deep, but at that season, wherever lumbering operations are actively carried on, teams are continually passing on the single track, and it becomes as smooth almost as a railway.”
—Henry David Thoreau (1817–1862)