EghtesadOnline: Tehran Stock Exchange was elected board member of the Federation of Euro-Asian Stock Exchanges for a two-year period at 28th General Assembly FEAS in Muscat, Oman.
At the event on Oct. 23, Iran Fara bourse, the over-the-counter market for trading securities in Tehran, was also reelected as FEAS board member.
During the general assembly meeting, the FEAS elects a working committee vice-chair, three new board members and audit committee members and the vice chairman, according to Financial Tribune.
IFB was also reelected as FEAS Working Committee Vice-Chair, the Securities and Exchange News Agency reported.
TSE elected FEAS’s executive board members after it lost the post in a previous assembly meeting in Abu Dhabi.
The one-day event brought together executives of stock exchanges and central securities depositories of the members of the federation.
The occasion was attended by stock exchanges and SCDs from Oman, Egypt, Greece, Armenia, Palestine, Romania, Kazakhstan, Syria and The European Bank for Reconstruction and Development.
Damascus Securities Exchange (Vice-Chair), Tashkent Republican Stock Exchange, Muscat Clearing and Depository and Astana International Stock Exchange were elected FEAS new audit committee members.
FEAS is a non-profit international organization comprising the main stock exchanges in Eastern Europe, Middle East and Central Asia.
It was established in May 1995 with 12 founding members. The purpose was to contribute to the cooperation, development, support and promotion of capital markets in the Euro-Asian region (i.e. Europe, Asia and the Mediterranean Basin).
The next FEAS meeting is scheduled at the Athens Stock Exchange.
Both IFB and TSE have been placed among the top-performing markets in the world in the past year. According to data released by the World Federation of Exchanges, TSE was at the top of the best-performing stock markets in terms of trading value among WFE members in 2018.
According to WEF, the total value of TSE trade in 2018 reached $26.5 billion -- up 112% growth over the corresponding period in 2017, making the TSE the top-performer on the list.
IFB also ranked fifth on the list and grew 61.8% compared to a year earlier.