Overview of Iran Securities & Exchange Brokers association and Capital Market & Key Economic Indices

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1 Overview of Iran Securities & Exchange Brokers association and Capital Market & Key Economic Indices Seyed Rouhollah Mirsanei: General secretary Ali Asgharzadeh Sadegh: Member of the Board

2 About ISEBA: The ISEBA was established on 6 October 27; It is a self-regulatory organization for brokers in IRAN; regulates relationships between members of the association with each other and with affiliated members; Currently, there are 108 brokerage firms in IRAN which are members of ISEBA; all of these brokerage firms should become a member of ISEBA at first.

3 SEBA activities : Ordaining and performing professional and disciplinary criteria and standards for members within the law. Compromising in disputes between brokers, traders' brokers, market makers and other affiliate staff of members for performing article 36th of law within the provisions. Regulating communications between members and affiliate staff of members within the provisions to perform the content of the 5th clause of the 1st article of law. Assisting on preparation and codification laws, provisions and regulations relevant to members and Securities Exchanges; Offering change of wages ceiling and the price of provided services of members to SEO. Preparing necessary facilities for developing systematic, professional and continuous training to affiliate staff of members and in order to improve their knowledge and the quality of provided services; Organizing seminars, training courses and questioning & answering sessions, publishing training leaflets, having interviews with media to make recognition of SEBA & members' activities and etc.

4 ISEBA Objectives: Assisting to create a fair, competitive and efficient securities market to obtain investors' trust. Increasing members and affiliate staff of members' prestige before investors. Regulating the affairs and promoting the professions that our members are occupied with. Upgrading affiliate staff of members' professional knowledge. Regulating relations between our members with each other or with their staff. Performing the duties that SEBA is supposed to do according to the law.

5 ISEBA DEPARTMENT: Training Department: This sector plans and performs training courses according to demands the knowledge of members, affiliated members and others in capital market. Members Department: ISEBA Members affairs section has the duty of preparing report related to the brokerage industry, trading statistics, affiliate information, Supervising members and members affiliated with, monthly magazine and etc Mediation committee: This committee considers all disputes arising from association members' professional activities with each other or third parties. InfoTech Department Financial & Administrative department. Legal Department

6 Overview of Iran capital Market TSE: Tehran Stock Exchange Value of trade: about 17 Billon dollar Market cap: about 86Billion dollar P/E ratio: average 6.86 Website: Establish year: 1346/1967 Average User 75 Women User % Trade: - Equity, -Future trade shares, -Option trade share, -Bonds, -Exchange Traded Fund (ETF). March (1395 Solar Hijri calendar)

7 Overview of Iran capital Market TSE: Tehran Stock Exchange Value of trade: about 17 Billon dollar Market cap: about 86Billion dollar P/E ratio: average 6.86 Website: Establish year: 1346/1967 Average User 75 Women User % Trade: - Equity, -Future trade shares, -Option trade share, -Bonds, -Exchange Traded Fund (ETF). March (1395 Solar Hijri calendar)

8 IFB: Iran Fara bourse Value of trade: about 12 Billon dollar Market cap: about 28 Billon dollar P/E ratio: average 8 website: Establish year: 1386/27 Trade: - Equity, -Fixed rate bonds, -Housing Mortgage Right (HMR), -Exchange Traded Fund (ETF), -Exchange Traded Project Fund (ETPF), -Islamic Treasury Bill (ITB), -Option trade share. March (1395 Solar Hijri calendar)

9 IME: Iran Mercantile Exchange Value of trade: about 22 Billon dollar website: Establish year: 1386/27 Trade: Various products and commodities are listed and traded in IME which are categorized in classifications: - Industrial Products and Commodities, - Oil Products and Petrochemicals, - Agricultural products, - Multi-Commodity, - Gold Coin Futures, - Option coin contract, - Salaf (Salam) Contracts. And... March (1395 Solar Hijri calendar)

10 IRENEX: Iran Energy Exchange Value of trade: about 1.3 Billon dollar website: Establish year: 1391/2012 Trade: - Oil Products and Petrochemicals, - Electricity, - Salaf(Salam) Contracts. March (1395 Solar Hijri calendar)

11 Stock Trading Restrictions Exchange Individual investors Institutional investors 2 TSE Individual investors (Online) Aged 18, High school Diploma, Approved by brokerage. Institutional investors (Online) M1 IFB Mostly authorized Mostly authorized (Aged 18, High school Diploma, Approved by brokerage. M2 IME physical delivery Mostly authorized - - M3 IME derivative Aged 18, High school Diploma, Approved by brokerage. M4 IRENEX physical delivery Mostly authorized - - M5 IRENEX derivative Mostly authorized - -

12 Price limit Exchange TSE 1 Price limit +-5% M1 IFB normal trade: +-5% if a share has marketmaker: +-10% In base market no limits has been set IME physical delivery M2 M3 M4 IME derivative IRENEX physical delivery Varied limit Future market: +-5% Option market no limits has been set Varied limit M5 IRENEX derivative +-5%

13 Stock Trading Restrictions Exchange buy sell sum TSE 0.38 Maximum fee: about 75$ 0.38 Maximum fee: about 75$ 0.76 Maximum fee: about 15$ IFB 0.32 Maximum fee: about 75$ 0.32 Maximum fee: about 75$ 0.64 Maximum fee: about 15$ IME physical delivery In mostly rings 0.38 Maximum fee: about 75$ 0.38 Maximum fee: about 75$ 0.36 Maximum fee: about 15$ IME derivative Future trades: about 0.4 $ per contracts Option trades: about 0.4 $ per contracts Future trades: about 0.4 $ per contracts Option trades: about 0.4 $ per contracts Future trades: about 0.8 $per contracts Option trades: about 0.8 $ per contracts IRENEX M4 physical delivery 0.15 Maximum fee: about 25$ 0.15 Maximum fee: about 25$ 0.30 Maximum fee: about 50$

14 Key economic indices

15 Key economic indices k Sources: World Bank Calculations

16 Key economic indices

17 Key economic indices Exchange rates (Rail per USD) and CPI inflation

18 Key economic indices Current account balance and oil exports

19 Key economic indices GDP and Forecast