Seyed Ali Hosseini
Director of Iran Energy Exchange
• Direct phone: 021-88540001
• Fax: 021-88734827
• Email: email@example.com
Academic and Executive background:
He holds a Ph.D. in accounting from the University of Tehran. He has extensive experience in Iran capital market such as Member of Board of Directors in Iran Stock Exchange Organization, Managing Director of Iran Energy Exchange, Chairman of Board of Directors of Tehran Stock Exchange Technology Management Company, Chairman of Board of Directors of Iran Financial Center, Board of Directors of Tehran Stock Exchange, Board of Directors of Iran Mercantile Exchange, Board of Directors of Iranian Energy Exchange, Board of Directors of the Iran Fara Bourse, member of board of directors of Iranian Accounting Association, and member of board of directors of Islamic Financial Association. He has been involved in many collaborative researches and has been some collaborations with top-rated universities in Iran including University of Tehran, Allameh Tabataba'i University, Petroleum University of Technology, Al-Zahra University and Imam Sadegh University.
Iran Energy Exchange operates with the aim of organizing, listing, supervising and easing the trade of energy carriers and energy carrier based securities, providing non-discriminatory and fair access of trading platforms to members, cooperation and coordination with financial institutions, companies, organizations and establishment of energy markets trustees such as ministries of Petroleum, Energy, Industry, Mine and Trade and the companies of National Iranian Oil Co., National Iranian Oil Refining & Distribution Co., National Iranian Petrochemical Co., Tavanir, Iran Grid Management Co., Iran Water Resources Management Co. and Environmental Protection Organization and also performing other duties assigned in the company statute. Iran Energy Exchange was established on July 7, 2012 with the license of the Supreme Council of Securities & Exchange as the fourth official exchange of the country and as a public stock company under the supervision of the Securities & Exchange Organization.
According to Iran Energy Exchange’s activities, its stockholder combination has been announced by the Securities & Exchange Organization as 60 percent financial institutions, 20 percent practitioners of power and oil industries and 20 percent the public, which also has the limit of 2.5 percent for each applicant. The initial capital of the company was considered 200 billion Rials and the company officially launched its trades on March09, 2013 with tar, coal and power commodities.
Iran Energy Exchange is a self-disciplined commodity exchange which has the possibility of trading physical energy carriers (including oil, gas, electricity and etc.) and commodity based securities. In this exchange, as similar to other exchanges, many buyers and suppliers are present which make possible the achievement of equilibrium prices of energy carriers with their interaction through a competitive atmosphere.
IRENEX consists of four markets which are the physical, derivatives, Other tradable securities and subsidiary markets. In the physical market, listed commodities, and in the derivatives market, commodity based securities are traded on the exchange.
Single-shipment and off-grade commodities can be traded on the subsidiary market. The physical market itself has three panels of power, oil & gas and other energy carriers. The derivatives market has three panels in which specific contracts are traded. These contracts include: Parallel Salam Contracts, Futures Contracts and Options Contracts. Also each panel has two rings, domestic and international. On the physical market, trades are conducted in the form of spot, credit, salam or premium discovery contracts.
Based on this, all energy carriers, provided that the supplier has a reliable reputation in the listed commodity’s market, have the possibility of fair price discovery considering the volume of supply and if the commodity has no limitations regarding the legal pricing and monopoly of supply or demand. Furthermore commitments stated in the Listing of Commodity & Commodity-based Securities Instruction must be presented by the applicant, all of which must be approved by the Listings Council or Supply Committee of IRENEX as a “main” or “similar” commodity.
On the physical market of IRENEX, based on the number of suppliers on a certain symbol, the trades are done in one of the following methods: Auction, All-Electronic and Wholesale Supply.
The company components are
1) Public Meetings
2) Board of Directors
Resources of IRENEX:
• All-electronic trading platforms especially designed for physical and derivatives markets.
• All-electronic platforms for registration, deposit and settlement of trades
• Over 70 brokerage companies with the license to trade in IRENEX.
• Listing more than 230 Commodity-Suppliers & Contracts Included Over 20 oil & gas refineries as suppliers, More than 40 power plants and More than 10 chemical plants and several coal making and tar refining companies.
Identifying the Iranian Energy Exchange as a legal entity for the purpose of establishing an organized market and developing energy carrier trades domestically and internationally
The mission of the Irenex includes:
• Creating a transparent, organized and efficient market (with high liquidity and competitiveness) to optimally utilize energy resources and achieve equilibrium prices for energy carriers
• Empowering energy activists by enabling financing, risk management and costing of energy suppliers and consumers, and participation in market-based mechanisms.
• Efforts to provide opportunities for foreign investors (activists) through the development of the international ring of Iranian Energy Exchange trades, as well as to improve the level of access of domestic suppliers and buyers to international markets.
• Innovation in improving trading mechanisms as well as participation in designing financial tools to meet customer needs
• Encourage the use of market-based approaches to social responsibility for the protection of the environment, the use of renewable energies, ...