EghtesadOnline: The number of trading codes issued for conducting trade in the capital market crossed 11 million by the end of the calendar month to August 22, according to the head of operations at the Central Securities Depository of Iran.
The total number of trading codes issued for foreign investors reached 1,366 in the period, Fariba Akhavan was quoted as saying by the Securities and Exchange News Agency.
Some 47,000 new trading codes were issued in the month to August 22 alone, Akhavan added.
Trading codes amounted to 198,000 during the first five months of the current fiscal year (started mid-March), Financial Tribune reported.
A total of 92 trading codes were issued by CSDI for foreign investors in the same period.
Regarding the activity of investors and the volume of trade conducted by each trading code, she said 1.09 million codes conducted at least 1-10 deals in the month.
Likewise, 138,000 investors conducted 11-20 trades and 192,000 investors conducted more than 20.
Rise in the number of trading codes indicates increasing attraction of the capital market for investors, especially in light of the lackluster performance of parallel markets.
Disappointed by poor returns on gold, foreign currency, auto and house markets, investors with little financial foresight in the past few months have turned to the capital market as a safe haven to protect their assets.
The capital market has seen dramatic surge thanks to the fresh liquidity of newcomers, helping the TSE climb close to 60% since the beginning of the current fiscal year.
“This can be both a threat and an opportunity for the capital market,” said Amir Hamouni, CEO of junior stock market Iran Fara Bourse, highlighting the fact that many investors lack the financial depth to professionally operate in the market.
“The number of [novice] investors could be a threat if nothing is done to boost their financial literacy,” SENA quoted him as saying.
He spoke of a Securities and Exchange Organization plan to incorporate a course dubbed “Bourse and Capital” into the Iranian education curriculum to raise financial literacy at an earlier stage.