Online trading for gold coins starts in IME certificate of deposit

EghtesadOnline: During the 9th International Exhibition of Bank, Exchange & Insurance, CEO of IME announced that the Iran Mercantile Exchange's online trading for gold coins certificate of deposit has initiated.

News ID: ۷۶۸۰۹۱

13 July 2016

According to the report by the IME’s International Affairs and PR, July 12th would be of a great importance for the gold coin and capital market participants because from this day onwards, online stock traders can trade Bahar-e-Azadi gold coins in cash on the IME. The IME after launching gold coins certificates of deposit transactions in collaboration with Tehran Securities Exchange and Technology Management Company (TSETC) and software provider companies, provided the possibility of online trading for this commodity as a stock to market participants and traders.

It should be noted that to provide more information for market participants, today, on July 12th, along with initiating online trading for gold coins on online stock trading system, a related workshop will be held at 3:00 p, local time at in the ninth international exhibition of exchange, bank and insurance.

Based on the report, online stock traders agencies including Atisaaz Bazar, Amin Avid, Refah Bank, Sepah Bank, Keshavarzi Bank, Mellat Bank, Bahman, Ansar Bank, Pishgaman Behparvar, Setareye onoub, Sahm Ashena, Sea Volex Kala, Kala Sepehr, Kalaye Khavar Mianeh, Mofid and Nemad Shahedan from this day on, can trade gold coins in cash (gold coin certificate of deposit) by choosing the coin symbol of the symbols of tradable stocks on the online trading system.

It is worth noting that the above-mentioned brokerage firms have provided their clients with access to online trading for metal commodities certificates of deposit and also other brokerage firms will provide the access for their clients, as soon as possible.

Based on the report, online trading infrastructure from gold coin certificate of deposit or the same as gold coin cash trading will be done on online stock trading system and gold coin cash transaction on this system is similar to trading stocks.

From Tuesday, 12th of July, online stock market traders which their brokerages have the license of trading metal commodities CDRs from the IME can order trading gold coin cash transactions on the online stock trading system.

Gold coin cash transactions on the system will be possible for customers every day from 9 am to 12:30, the same as stock trading hours.

Coin symbol has been opened on the online stock trading system and traders can make gold coin cash transactions (gold coin certificate of deposit) and if they wish to receive the coin(s), they can receive them from Refah Bank treasury.

One of the main functions of this financing instrument is to ensure security and safety in trading gold coins, so that anyone who has gold coin, by converting their asset into certificate of deposit, can trade it or maintain it without any concerns, because gold coin certificate of deposit is held in the customer's name and even in case of theft of the certificate, there is also the possibility of receiving the coins with their identification documents and so there will be no concern for the security of coins.