Tehran Exchange Trades Futures to Attract Investors

The Tehran Stock Exchange, home of the world’s second-best performing equity index, began offering derivatives based on local banks to diversify and attract foreign investors.

Four futures contracts were “symbolically” traded at an opening ceremony yesterday, Hassan Ghalibaf-Asl, the exchange’s managing director, said in a phone interview today. The exchange is introducing six futures contracts based on Parsian Bank and Karafarin Bank, which will expire in two, four and six months, he said. The exchange hopes to increase the number of companies covered by futures contracts to at least 10 by March.