The Securities and Exchange Organization is planning to launch foreign exchange futures contracts after a reference price for foreign currency is discovered in the soon-to-be launched regulated forex market.
In a talk with IRIB news, the SEO chief Shapour Mohammadi referred to an agreement with the Central Bank of Iran based on which forex futures will be traded within the capital market framework and spot forex trading at regulated forex market.
The High Council of Securities and Exchange – a high stock market decision-making body – gave the nod for launching the forex futures four years ago.
A forex future is an exchange-traded contract to buy or sell a specified amount of currency at a predetermined price on a set date in the future.