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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who started this subject5/17/2004 1:17:44 PM
From: TFF   of 12617
 
Tehran bourse to open trading rooms around town




Saturday May 15, 5:10 AM EDT

TEHRAN, May 15 (Reuters) - Tehran's runaway stockmarket will open the first of a series of new trading rooms around the capital to ease pressure on the main exchange, the director of the bourse said on Saturday.

Hossein Abdoh-Tabrizi told state radio the heavy volume of business on the trading floor in downtown Tehran meant brokering rooms, electronically linked to the central bourse, would be opened up around the city.

"A new stock exchange floor will be opened in Tehran in the next few days. The number of these floors will exceed 10 in Tehran," he said.

The Jahan-e Eqtesad newspaper reported there could be as many as 20 of these floors around Tehran by March 2005, ending the inconvenience of a journey into the city centre.

Tehran's stock exchange, which Abdoh-Tabrizi hopes will open up to foreign investors in two or three months, soared 116 percent last year.

Iran's stockmarket is the prime money haven for investors looking to beat 14 percent inflation.

New construction rules have deterred investors from putting their money into property, the only other major investment opportunity in recent years.

©2004 Reuters Limited.
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