According to Rouhollah Dehghan, the SEO deputy for IT affairs, the regulator is planning a smart platform capable of processing huge volumes of market data.
"The fact is that efficient oversight of the market gets disrupted due to increase in the volume of deals as new investors enter the market," he was also quoted as saying by Securities and Exchange News Agency.
The new supervisory platform will help strengthen surveillance through AI capabilities and detect irregular and potentially malicious trade.
Dehghan said the regulator regularly oversees the market and its supervisory arms have been developed to accommodate the needs of the market.
The regulator is often criticized for poor supervision over the market that has been showing increased signs of volatility in recent months. Among other things, observers blame the SEO's “inefficient supervisory clout for the steep volatility that has inflicted heavy losses on millions of retail investors, majority of whom recently put their money in the bourse following persistent government recommendation to do so.
Data released by the Central Securities Depository of Iran show that more than 8.8 million trading codes were issued for new investors in the first half of the current fiscal year (ends March 20) -- an unusual number compared to the less than the 12 million issued in more than a half a century.
Recently there have been reports about prosecuting investors who violated the stock market rules, including CEOs of listed companies who did not abide by SEO regulations.
Iran's share market went into a tailspin after historic gains in the first few months of current fiscal year. The market has taken a drubbing since mid-August that has continued until now.