EghtesadOnline: Iran Fara Bourse, over-the counter stock market based in Tehran, was ranked second in terms of value and volume of trade and the number of stockbroker companies handling IFB trade in 2018 among 15 members of the Federation of Euro-Asian Stock Exchanges (FEAS).
As per an FEAS report, the value of deals hosted by IFB reached €18 billion by the end of 2018. More than 24.5 million deals were handled by the market in the year. A total of 109 companies handled IFB trade in that year.
IFB’s market capitalization-- the market value of a publicly traded company's outstanding shares -- jumped from €12.6 billion in 2017 to above €18 billion by the end of 2018, indicating 64% growth.
According to FIAS, each stock exchange member on average earned €10.7 million in profit in 2018. The profit made by the IFB was 31% above the average at €12 million, Financial Tribune reported.
FEAS is a non-profit international organization comprising the main stock exchanges in Eastern Europe, Middle East and Central Asia.
The entity rates the stock exchange markets in Jordan, Armenia, Kazakhstan, Greece, Belarus, Kuwait, Romania, Cyprus, Syria, Egypt, Iraq, Oman, Uzbekistan and Tehran.
FEAS was established in May 1995 with 12 founding members with the aim of contributing to the development, support and promotion of capital markets in the Euro-Asian region (i.e. Europe, Asia and the Mediterranean Basin).
Both IFB and TSE have seen a dramatic surge over the past year following a steep rise in currency rates in summer 2018.
Both markets have grown almost twofold since the beginning of the current fiscal year (March 20) thanks to fresh liquidity from investors disappointed by the poor returns in parallel markets.