IRENEX Q1 Trade at $780m

EghtesadOnline: Deals worth 187.3 trillion rials ($780 million) were handled in the spot market of the Iran Energy Exchange (IRENEX) in the first three months of the current fiscal year (March 21-June 21), the Central Securities Depository of Iran said.

News ID: ۷۸۶۶۶۹

13 July 2021

In a press release posted on its website, the capital market clearing house said the deals included 2,381 contracts, 2026 of which were worth 136.9 trillion rials ($570m).

Assets traded included petroleum products worth 138 trillion rials ($575m), gas products 27 trillion rials ($112m), and chemicals 20 trillion rials ($83m) and electricity 1.8 trillion rials.

CSDI figures indicate that in the month to June 21, IRENEX deals reached 88.7 trillion rials ($369m), down 8.24% compared to the preceding month and less 22.5% compared to the corresponding month last year.

IRENEX is a market for trading energy futures and commodities, including oil, gas, electricity, petrochemicals and oil byproducts. It was launched in 2013 as the fourth exchange and operates under the auspices of the Securities and Exchange Organization of Iran.

Apart from spot market deals, standard salaf contracts worth 36 trillion rials ($150m) were also exchanged in the IRENEX derivative market.

Salaf bond is an Islamic contract similar to futures, with the difference being that the contract’s total price is paid in advance.