Iran Fara Bourse Company as a Public Joint- Stock company is located in Tehran which commenced its operation in November 2008. IFB is Iran’s second equity market and functions in some way analogous to conventional OTC markets with a handful of more features. The market is a self- regulatory entity but under direct supervision of SEO.
IFB is a market for both listed and unlisted securities and also other financial instruments. As of today, IFB comprises’ different markets each of which serves a unique role in the capital market. Designing innovative financial instruments in the capital market which helps directing capital towards development plans and economic prosperity is best served by IFB. IFB is a member of the Federation of Euro- Asian Stock Exchanges (FEAS) and Organization of Islamic Cooperation (OIC) Stock Exchanges Forum. According to listing, offering and transfer rules of securities, there are 5 separate markets at IFB as follows:
The requirements for offering and listing in IFB are indicated in the following Table 7-3 Initial offerings and secondary transactions of securities are executed in the primary and secondary markets of Iran Fara Bourse Company. Block offerings, retail offerings and subscriptions are executed in the third market of Iran Fara Bourse Company. Transaction of some securities, including certificates of deposits (C.D.), Sukuk, Mortgaged- Backed Securities (MBS) and other instruments are also conducted at this specified market of Iran Fara Bourse company.
Table 3 The stock listing conditions in Iran Fara Bourse markets
Commission & Fees
IFB trading fees include:
Table 5 IFB stock and rights commissions, fees and tax (% of trade value)
Table 7 IFB Commissions, Fees and Tax for Bonds and Sukuks (% of trade value)