09IMR(January2012)

Iran Market----------------------- Reporter

ADDRESSING THE NEEDS OF INVESTORS

Mofid Securities Co.Member of TSE(Tehran Stock Exchange)Member of IME(Iran Mercantile Exchange)Member of Farabourse

Contact Person: Mr. Seifollahit 009821 8190 1165f 009821 8190 1022e [email protected] www.emofid.comw www.mofidkala.com

IRAN MARKET REPORTER Is produced by Mofid Securities Co.Distributed electronically via email.

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2 Iran Market Reporter No. 9 Jan 2012 ( Issue 1, Vol. 2) en.emofid.com

Contents3 Overview

This month, we take a look at the chang-es in interest rates and exchange rates and their effects on TSE’s main index (TEDFIX). And also a proper look at major sectors such as Banking and Basic Metals.

6 StockTrade Value and Volume of TSE rose by 26 and 55 percent in January as inves-tors are regaining their confidence in the stock market. Pasargad Bank -one of the most liquid shares of the market- managed to almost double its trading volume during January.

10 FundMomtaz, Pishro and Pishtaz –all three managed by Mofid- are among the top 10 best mutual funds of January.

14 CommodityAlthough, the value of commodities traded on the IME rose by 11 percent in January compared to the previous month, the export ring trade value did not change significantly. As sugar starts to be traded on the IME, agricultural ring’s trade value rose by more than 60 percent during last month.

16 NewsThis section provides the most impor-tant news on Iran capital market special-ly exchanges for the month of January.

20 Special ReportPouya Finance Company (PFC) one of the best IT companies active in Iran capital market has recently launched their new product, Bourseview.com, which pro-vides market information in favorite for-mats to meet domestic and international investors’ needs.

The Grand Bazaar is a historical market situ-ated in the capital of Iran, Tehran. A bazaar is a type of marketplace, although many - such as Tehran’s Grand bazaar - fulfill many additional functions rather than merely trade. Throughout its history, the Grand bazaar has played host to banks and financiers, mosques and guest houses.

3en.emofid.com Iran Market Reporter No. 9 Jan 2012 ( Issue 1, Vol. 2)

Contents OverviewTSE All Share Index (TEDPIX) rose as much as 6.5 percent in the first month of 2012; cap-ping the best performance in ten months. Though non-economic factors once again made the market volatile, the consequences especially in the banking sector eventually pushed the index higher. Furthermore, the improvement in the global financial markets positively affected the large-cap Basic Metals which also helped to offset some effects of psychological factors.

CMC Raises Interest RateIn January, and in response to volatility, the authority took new actions to fully ensure stability and regularity in the local markets.

Notably, on Jan 11 the Credit and Money Council (CMC) decided to raise interest rates. The CMC, which is responsible for setting monetary policies, announced that the inter-est rates should be set above the inflation. It

is said that high level of liquidity is likely to be the main reason behind the recent volatil-ity. So the decision was said to be necessary in order to direct liquidity back to the banks’ deposits.

On Jan 25, and after the president approved the CMC’s act, the Central Bank of Iran (CBI) notified the banks about the new package of monetary policies of which paved the way to raise interest rates on five years deposits up to 20 percent. Rates on one year deposits raised to 17 percent and the CBI let the banks com-pete on rates between these two durations.

CBI Fixes Exchange Rate at 12’260Later this month, the CBI decided to set the official exchange rate of the USD at 12’260 Ri-als. Now, the exchanges are allowed to make transactions in a band of 3 to 5 percent higher or lower from the official rate. The limit for hard currency is set at 1 percent. All decisions welcomed by the markets as they now expect lower volatility in asset prices.

Non-inflationary Growth in Housing SectorNormal growth in other sectors of the econ-omy also helped investors, especially those with high-risk profile, choose stocks among other asset classes.

Private reports from the housing sector show that prices increased by 20 percent from March to September from the same period last year. Nevertheless, the increase has been in line with inflation rate. Housing policies in recent years, of which stimulate the supply side, probably helped reduce speculations


and effectively prevent prices to unreasonably go higher.

Markets Warmly Welcome Higher Inter-est RatesIn January, the TEDPIX advanced in every week, touching 26,000 level for the first time in three months. Regardless of the level of uncertainty, the volatility in the other markets prompted actions by the policymakers that some believe it may benefit the economy.

Undoubtedly, the most remarkable action was the increase in the interest rates. At first, it may look like a contractionary policy but the headline does not tell the whole story.

In fact, the low interest rates for relatively long period of time resulted in a continu-ous reduction in the banks’ deposits; making them unable or reluctant to make commercial loans. This may explain why the rate increase,

if it takes the money back and helps the banks to recapitalize and start to make loans, could result in a better business environment.

Banks Get the Long-Awaited PackageAs it was expected, the banking sector was the first to attract investors who bet that the higher rates would eventually be reflected in the banks’ revenues. The rate increase was highly anticipated much earlier, mostly be-cause of the inflationary pleasures, though other factors made it unavoidable.

On January 4, just after the rate increase an-nouncement by the CMC, investors rushed to buy stocks of the banks and continued to buy in the following days. The index of banks rose 7.0 percent in January to become the third best performing among the main TSE sectors.

The index includes ten banks like Pasargad Bank [BPRT1], Mellat Bank [BMLT1],Parsian

Overview


OverviewBank [BPAR1], and Tejarat Bank [BTEJ1]. Based on the market capitalization, these banks make almost 19 percent (nearly USD 20 bil-lion) of the TSE.

Basic Metals Take Advantages of Global PricesAs it was mentioned earlier, the improvement in the global markets also contributed to the performance of the stock market. In January, copper prices rose 12.2 percent which, com-bined with the strengthening USD, helped raw material producers experience higher-than-average increase in their share prices.

Steel producers also rose as the domestic prices of steel bars passed the 10 Million Rials (820 USD) per ton on Jan 8. The uncertainty still remains high as the steel prices are very sensitive to the demand side which looks not in a very good shape. Nevertheless, the index of Basic Metals, which accounts for 17 percent of the TSE market cap, rose as much as 16.1 percent.

Other SectorsTSE listed chemicals meet expectations with 9.3 percent increase in their index. Investors remain optimistic as companies like the Isfah-an Oil Ref [PNES1] covered 80 percent of their year-end profit forecasts in just 9 months.

However, not all companies in the index of Chemicals were so attractive. There are small producers, like the producers of washing powders, who must wait to get approval for raising prices as they struggle with 10 to 15 increase on imported raw material because of

the strong dollar.

On the other hand, cement industry missed profit estimates while they should face more uncertainty from the housing market and infrastructure projects.

Vehicles declined as the speculations about any immediate price increase cooled. At the same time auto industry tries to get official support to reduce the costs of imported materials. Earlier this month, the CBI signaled that it may eliminate the role of currency ex-changes for the industry as they were accused of charging unreal prices in transactions.

Pharmaceuticals also declined in January. The industry heavily relies on imported mate-rials, so they are still waiting for help to import their needs at a favorable exchange rate.

Overview


Trade Value (M USD) Trade Volume (M) Number of Trades Number of Trading Days

TSE1 1,246 5,096 366,107 20

Farabourse2 478 857 141,823 201Tehran Stock Exchange 2OTC Market

Tehran Stock Exchange

Value of Index

High Low Average Compared to last month %

Compared to last month %(in USD Term)

Compared to last year %

TEDPIX1 25,914 25,931 24,324 25,311 6.19% -3.30% 37.44%

TEDPIX (FM) 21,950 21,966 20,526 21,400 6.68% -2.86% 39.97%

TEDPIX (SM) 31,918 31,993 30,615 31,505 3.41% -5.84% 24.92%

FFI2 33,312 33,532 31,203 32,632 6.14% -3.35% 39.78%

Industry Index 20,164 20,167 18,981 19,717 6.10% -3.38% 41.77%

TEDFIX 30 1,584 1,595 1,482 1,550 6.88% -2.67% 39.56%1TSE Dividend & Price Index (All-share Index) 2Free Float Index

TEDPIX

Stock | Market Summary


Stock | Gainers & LosersStock | Market Summary

10 Top Gainers

Symbol Company Sector Last Price Change (%)

PNTB1 Tabriz.Oil.Refine Refined Petroleum Products 3,964 62.66

GESF1 Isfahan Sugar Sugar & Byproducts 22,582 48.58

DADE1 DPI Computer & Related Activities 4,459 39.91

PNES1 Isf. Oil Ref. Co. Refined Petroleum Products 5,022 26.47

ATDM1 Atye Damavand Investment Companies 1,201 24.97

Iranian Investment Inc. Co.1 Investment Companies 2,816 24.93

NMOH1 Nirou Moharreke Motor Vehicles And Auto Parts 1,569 22.87

BAMA1 Bama Metal Ores Mining 23,089 21.13

DAY Bank1 Banking 1,480 19.64

FOLD1 Mobarakeh Steel Basic Metals 3,074 18.601Listed in Farabourse

10 Top Losers

Symbol Company Sector Last Price Change (%)

KHFZ1 Hafez Tile Ceramic & Tiles 1,521 -26.34

BHSM1 Behceram Ceramic & Tiles 1,378 -26.03

MNMH1 Niromohareke M. Machinery & Equipment 755 -20.19

TKSM1 Takceram Ceramic & Tiles 1,420 -19.46

PSIR1 Iran Glass Wool Other Non-metallic Mineral Products 1,726 -19.31

ARDK1 Ardekan Ceramic Other Non-metallic Mineral Products 7,236 -18.58

Marjan Kar1 Ceramic & Tiles 7,458 -18.54

SINA1 Sina Tile Ceramic & Tiles 3,339 -18.14

SPDZ1 Saipa Diesel Motor Vehicles And Auto Parts 521 -16.64

CHIR1 Irana Tile Ceramic & Tiles 3,868 -14.731Listed in Farabourse


Stock | Most Active

10 Most Active (Value)

Symbol Company Sector Change (%)

Value (USD)

BPAS1 Pasargad Bank Banking 0.32 94,499,368

FOLD1 Mobarakeh Steel Basic Metals 18.60 40,698,876

Marun Petrochemical Co.1 Chemicals & By-products 3.63 39,108,251

Hamrah-e-Avval (MCI)1 Post and Telecommunications 5.68 36,699,125

GDIR1 Ghadir Inv. Diversified Industrials (Holdings) 13.82 36,062,239

KSIM1 Calcimine Basic Metals 4.04 30,545,545

GSBE1 Sabet Khorasan Sugar & Byproducts 10.78 24,834,803

MSMI1 I. N. C. Ind. Basic Metals 14.75 23,705,588

PKHA1 Khark Petr. Chemicals & By-products 3.91 23,302,179

BPAR1 Parsian Bank Banking 6.63 22,052,0381Listed in Farabourse

10 Most Active (Volume)

Symbol Company Sector Change (%)

Volume

BPAS1 Pasargad Bank Banking 0.32 587,747,935

FOLD1 Mobarakeh Steel Basic Metals 18.60 172,390,320

SDRA1 SADRA Industrial contracting (2.67) 139,981,121

Iran I Bank1 Banking 0.00 138,686,112

MELT1 Melat Inv. Investment Companies 5.43 134,110,504

DAY Bank1 Banking 19.64 116,218,314

MIDCO1 Diversified Industrials (Holdings) 4.17 104,865,441

BPAR1 Parsian Bank Banking 6.63 101,370,617

GDIR1 Ghadir Inv. Diversified Industrials (Holdings) 13.82 97,508,869

SIPA1 SAIPA Motor Vehicles And Auto Parts (9.55) 89,505,2401Listed in Farabourse


Stock | Average P/E

Highest P/E

Sector Average P/E Market Weight

Post and telecommunications 9.57 12.12%

Metal Ores Mining 9.24 8.27%

Basic Metals 8.90 17.75%

Computer & Related Activities 7.86 1.51%

Food Products and Beverages except sugar 6.57 1.15%

Lowest P/E

Sector Average P/E Market Weight

Motor Vehicles And Auto Parts 4.46 5.36%

Cement, Lime & plaster 4.71 2.66%

Technical & Engineering Services 4.83 1.89%

Real Estate And Construction 4.86 1.26%

Banking 5.87 20.08%


Fund | All Funds Overview

Top 10 Best Funds (Regarding return rate)

Working Days

NAV(Rial)

Asset Under Man-agement (USD)1

Last Month (%)

Last 6 Months (%)

Last 12 Months (%)

Since Inception (Compound Return)

EN Bank 1,136 2,334,733 2,073,491 18.70 -0.40 5.40 31.30

Agah 1,273 4,518,540 2,605,225 12.70 3.90 18.60 54.10

Pasargad 1,248 2,083,092 1,022,727 11.90 -5.70 14.80 23.90

Sina 366 1,351,295 3,403,235 9.20 13.00 35.10 35.00

Momtaz2 715 2,169,770 6,008,802 9.00 6.00 26.60 48.50

Pishro2 287 1,045,961 10,747,575 8.80 5.70 — 4.60

Aghigh 340 1,180,564 829,297 8.60 3.20 — 18.10

Maskan Bank

696 1,712,525 785,516 8.00 10.50 17.30 32.60

Omid Sahm 324 979,297 1,000,873 6.70 3.40 — -2.10

Pishtaz2 1,363 4,280,031 26,681,913 6.20 3.50 24.70 47.801USD to Rial exchange rate: 12,260 2Managed by Mofid


Fund | Pishtaz Mutual Fund

CommentaryJanuary was a relatively good month for the Tehran Stock Exchange. Pishtaz fund ad-vanced 6.2 percent and was ranked the 10th among 61 mutual funds active in Iran capital market for the first month of 2012.

Pishtaz has significant positions in Iron Ore companies, copper and steel producers that all did well in January. Many of the natural resource companies, that price there products in hard currencies, have a relatively low P/E ra-tio of 4 to 5 and we are optimistic about their performance over the next 2 to 5 months.

Fund’s Composition Weight

Metal Ores Mining 13.07

Telecomunication 10.74

Banking 9.16

Holding 8.74

Chemicals & By-products 7.85

Other Industries 50.44

Pishtaz Mutual Fund

Inception date May. 9, 2008

Working Days 1,363

Asset under managementM Rials 89,838

1 Month 6.20%

3 Month -1.80%

6 Months 3.50%

12 Months 24.70%

Life (Compound Return) 47.80%

NAV (Rial) 4,280,031

12 Months Hight 4,489,151

Low 3,431,345


Fund | Momtaz Mutual Fund

CommentaryIn January the main index (TEDPIX) advanced 6.2 percent and Momtaz fund advanced 9 percent and was the 5th best performer among 61 mutual funds active in the market.

Higher prices of commodities and natural resources as well as depreciation of Rial versus US Dollar were the most important factors that fueled higher prices for stocks of natural resource and commodities companies and contributed to the performance of Momtaz fund.

Also anticipations of the year-end annual meetings and dividends distributions over the next 2 to 5 months create a safety net that makes buying at current prices relatively attractive. Momtaz has a net cash position of roughly 10 percent of assets that we plan to put to use over the next 2 month.




Banking 10.29

Basic Metals 8.16

Holding 7.74


Momtaz Mutual Fund

Inception date Feb. 16, 2010

Working Days 715


1 Month 9.00%

3 Month 0.10%

6 Months 6.00%

12 Months 26.60%


NAV (Rial) 2,169,770

12 Months Hight 2,230,904

Low 1,714,470


Fund | Pishro Mutual Fund

Pishro Mutual Fund

Inception date Apr. 20, 2011

Working Days 287


1 Month 8.80%

3 Month -0.20%

6 Months 5.70%

12 Months -


NAV (Rial) 1,045,961

CommentaryWith 8.8 percent return in January Pishro fund ranked 6th among all active mutual funds. Pishro has large positions in Chemicals & by-products sector. Roughly 10 percent of the fund is invested in Pardis Petrochemical Co (the largest producer of Urea in Iran) which had a remarkable performance in the first month of 2012.

Although non-economic factors are very important, we think that the market itself can do relatively well because, we believe, many of the natural resource and basic metal com-panies are still undervalued and are likely to rise because of the expectations of the year-end annual reports and dividends distribu-tions over the next months.




Chemicals & By-products 11.15

Banking 10.04

Basic Metals 9.30



Commodity | Summary

Iran Mercantile ExchangeIME total trade value rose by 11 percent in USD terms and 21 percent in Rial terms in the first month of 2012. However, trade value of export ring did not change significantly in compare with the last month. Bitumen was the only commodity traded in export ring during January with around USD 117 million trade value. Agricultural ring is becoming more active as Brazilian sugar starts being traded in this ring. During January Brazilian sugar trade value

was almost 80 percent of total trade value of agricultural ring with the amount of USD 91 Million.In foreign exchange market, as we discussed in overview section, US dollar experienced irregular volatility during January. Following USD, other FX rates also increased between 9 to 16 percent. Highest increase was for Turkish Lira (TRY) with 16.04 percent while Chinese Yuan (CNY) experienced the lowest increase rate of 9.41 percent.

Group Value (USD) Percent Compared to Last month (USD terms)

Industrial 695,727,791 55.52% 6.93%

Agricultural 91,688,943 7.32% 64.22%

Oil & Petrochemical Export Ring 117,204,224 9.35% 0.11%

Oil & Petrochemical Domestic Ring 348,451,322 27.81% 13.40%

Total 1,253,072,280 100.00% 10.64%


Commodity | Exchange Rate

Iranian Rial Exchange Rate (As of January 31)1

Code Currency in IRR Hight Low Compared toLast Month (%)

USD United States Dollar 12,260 12,260 11,164 9.82%

GBP Pound Sterling 19,292 19,292 17,248 11.26%

CHF Swiss Franc 13,420 13,447 11,758 12.74%

AED United Arab Emirates Dirham 3,338 3,338 3,040 9.80%

KWD Kuwaiti Dinar 44,192 44,192 40,073 10.28%

JPY100 Japanese Yen 16,084 16,084 14,507 10.87%

HKD Hong Kong Dollar 31,833 31,843 28,996 9.78%

OMR Omani Rial 12,248 12,248 10,904 12.03%

CAD Canadian Dollar 6,873 6,900 5,919 16.04%

TRY Turkish Lira 3,367 3,367 3,067 9.78%

QAR Qatar Riyal 3,269 3,270 2,978 9.77%

SAR Saudi Riyal 32,511 32,514 29,614 9.78%

BHD Bahrain Dinar 1,941 1,941 1,774 9.41%

CNY Chinese Yuan 4,026 4,030 3,522 14.31%

MYR Malaysian ringgit 10,905 10,939 9,631 13.23%

EUR Euro 16,174 16,208 14,272 11.81%1Official rates according to Central Bank of Iran (CBI)


NewsTehran Stock Exchange value hits $127 billionJanuary 31, 2012

TEHRAN TIMES: The Tehran Exchange Mar-ket’s value has reached some 1,260 trillion rials (around $103 billion), the Securities and Exchange Organization’s director announced here on Sunday.

“Taking the over-the-counter market into account, the capital market value stands at 1,560 trillion Rials (some $127 billion),” the IRNA news agency quoted Ali Saleh Abadi as saying.

Tehran Stock Exchange’s main index (TED-PIX) rose 10.4 this year, compared with last –

Iranian calendar – year, he added.

While the stock markets of the Middle East and North Africa region saw a very poor year in 2011, Tehran Stock Exchange experienced an unprecedented growth of 30 percent, leading the financial markets of the region, a report by the Economist said.

The report entitled “Business Middle East: January 16th 2012” noted that Iran’s stock market flourished in 2011, while most of other stock markets of the region experienced negative growth.

Tehran Stock Exchange Revised TEDFIX 30 IndexJanuary 22, 2012

TSE: Tehran Stock Exchange announced the following index changes as a result of the quarterly TEDFIX 30 Index revision. These changes have been effective since the mar-ket’s opening on December 24, 2011.

The TEDFIX 30 is a total return index weight-ed by free-float market capitalization that measures the performance of 30 most traded stocks listed on Tehran Stock Exchange (TSE). In this revision, Pasargad Bank and Ansar Bank were added to and North Drilling Co. and National Investment Company of Iran were removed from the index.

Index components are selected according to the market capitalization and liquidity cri-teria. Thus, 100 large cap companies are listed on descending basis, and 30 companies mee ng the following requirements:1. It is at least 3 months since they have been listed and traded at TSE.2. Their monthly value traded in the last 6 months ended the revision date exceeds 25% of average monthly value traded of 100 large companies in this period.3. Free floats share is at least 10%.

Quarterly Index Reviews are designed to ensure that the indices continue to be an


Newsaccurate reflection of the evolving equity marketplace. Free floats used in calcula on of TEDFIX 30 are revised quarterly on the third Wednesday of the last month of every quarter. The index is calculated as a total return index (price and dividend). The base date for TEFIX 30 is 23/8/2010 and the base level is 1000.

The following are the companies listed in TEDFIX30 in the third quarter of the Iranian year 1390.

Name

1 MKBT Iran Telecommunications

2 MSMI National Copper Industries

3 FOLD Isfahan Mobarakeh Steel

4 BPAS Pasargad Bank

5 GDIR Ghadir Investment

6 GOLG Gol-E-Gohar Iron Ore

7 CHML Chadormalu Mineral & Ind.

8 BPAR Bank Parsian

9 BMLT Bank Mellat

10 BTEJ Tejarat Bank

11 NOVN EN Bank

12 KSIM Calcimine

13 BSDR Saderat Bank

14 MAPN MAPNA

15 SIPA Saipa

16 SAND Civil Pension Fund Investment

17 IKCO Iran Khodro Industrial Group

18 FKHZ Khouzestan Steel

19 PKHX Khark Petrochemical

20 PESF Esfahan Oil Refining

21 MADN Mines & Metals Development Inv.

22 BANS Ansar Bank

23 KRAF Karafarin Bank

24 VSIN Sina Bank

25 PFAN Fanavaran Petrochemical

26 BHMN Bahman Group

27 TBEH Behshahr Industrial Dev.

28 NBEH Behran Oil

29 SSAP Saipa Investment

30 TMEL Tose-e Melli Group Investment

Companies listing and delisting in TEDFIX30 do not in any way reflect an opinion on the investment merits.

To get more information on each symbol please visit bourseview.com and search the symbol.

Gold Coin Futures Hit a New Record in Value and VolumeJanuary 21, 2012

IME: With a total volume of 30,601 contracts, Gold Coin Futures Contacts hits a new record on Wednesday 11 Jan.

According to the report of public relations and international affairs, the value of the transactions reached to IRR 2,234 billion, a


Newsnew record as well.

The report adds: Gold Coin Futures with the due date of June 2012 were the most popular contracts which had a volume equal

to 19,240 and the value of IRR 1,439 billion. In the second place were the contracts with the due date of April 2012 which had the volume of 6,145 with the value of more than IRR 441 billion.

Tehran Stock Exchange leads MENA financial markets in 2011January 18, 2012

TEHRAN TIMES: While the stock markets of the Middle East and North Africa (MENA) region experienced a very poor year in 2011, Tehran Stock Exchange (TSE) has witnessed an unprecedented growth of 30 percent in 2011, leading the financial markets of the region, a report of the Economist Group said.

The Economist Group in its new report entitled “Business Middle East: January 16th 2012” noted that Iran stock market flourished during 2011, simultaneously most of other stock markets of the region experienced negative growth.

With a few unrepresentative exceptions, MENA stock markets had a poor year in 2011, reflecting both the political turbulence across the region and the battering suffered by most global markets as a result of the euro zone crisis and the increasingly bearish outlook for the global economy, the report added.

The two outliers were Iraq and Iran, whose main indices both rose by just over 30%. However, the Iraqi performance is distorted by the tiny size of the Baghdad stock mar-ket, while the rise in stock prices in Iran was

heavily influenced by the placement of huge privatization shares, despite international sanctions. Besides Iran and Iraq, Qatar was the only country in the region to witness a rise in the main index, albeit by only 1%.

The overall performance was in stark con-trast to 2010 when most of the region’s mar-kets advanced strongly, with Jordan, Lebanon and Dubai the only ones to drop significantly.

Saudi Arabia’s stock market had another largely disappointing year, despite the strong performance of the economy as a whole, in particular by the non-oil private sector.

Elsewhere in the Persian Gulf there was more disappointment in Qatar, Abu Dhabi and Dubai as the MSCI decided in December to maintain its classification of frontier market for these bourses.


News NewsOnce again in IME – Supply of Crude oilJanuary 16, 2012

IME: Crude oil will be supplied in the IME, frequently from the beginning of the next Ira-nian year, said the Managing Director of Iran National Oil Company Ahmad Ghalehbani uttered in an interview with SHANA: in the next annual budget the subject of selling the crude oil in IME will be considered, moreover we try to sell crude oil in IME once again this year.

The deputy of Oil Minister emphasized that: the allocation of separate budget for supply-ing of crude oil has been considered in the oil industry budget for the first time.

Managing Director of Iran National Oil Company has previously expressed: A lot of sessions have been hold about the resupply of the crude oil in IME with the Securities and Exchange Organization (SEO) and we do our best to have a more active oil exchange and regarding to the previous meetings we have reached to favorable conclusions, in addition we are going to resupply the crude oil in IME after settling down the ongoing problems.

Managing Director of IME, Dr. Hossein Pana-hian has been also expressed in such ground: We are negotiating with the National Oil Company of Iran in order to supply crude oil.

Establishment of a completed Oil exchange and expansion of selling petroleum products

in such exchange, were within the goals of government and Iranian president Mahmood Ahmadinejad has insisted that development of commodity exchanges is a must for the country.


Special ReportBourseView.comNowadays in financial markets, real-time ac-cess to market data is an unavoidable require-ment. Obtaining correct information and a proper mental image of what is going on a market can help investors in making optimal decisions.

Pouya Finance Company (PFC) with a look at new tools and methods of information technology in the financial market area in the world tries to deliver Iran’s capital market information in favorite formats to meet inves-tors’ needs.

BourseView.com is designed by PFC in order to deliver TSE and FaraBourse’s real-time data to help visitors obtain reliable informa-

tion from the market.

Main goals sought by BourseView.com are as follows:

• Distinct and fast information delivery

• Presenting useful charts

• Creating access to market data at a glance via Market Map

• Using innovative methods of showing information

• Versatile and fast filtering among symbols, industries and instruments

• Customizing pages while keeping Integrity


Special Report Special Reportof all pages

Pursuing the goal of attracting international visitors, PFC recently has lunched the English version of BourseView.com. Some features of this website are as follows:

• Market Watch

o In Market Watch section, the investor can select his/her favorite symbols traded in Iran’s capital market. For each symbol, in-formation such as company’s name, num-ber of trades, trade volume, daily chart, trades value, previous day closing price, opening price, today’s closing price, high price, low price, market depth (including three best bid and ask prices).

o In market watch it is possible to choose

favorite columns and filter the symbols based on the related industry, instrument and exchanges.

• Market Map

o This part brings a general view of changes in the market during the trading period and after that. All filtering capabilities can be used in this part, too.

• Bubble Chart

o The area and color of bubbles in this chart are proportional to the trade volume and price changes respectively.

BourseView.com is being developed rapidly and new features are going to be added to the website. Following features are now avail-able in Farsi version and will be soon added to


the English version:

• News and Alerts

o In news section, news related to Iran’s Capital Market, are shown after being up-loaded to website of reliable news agen-cies in Iran.

o All announcements published via Codal website are uploaded in news section automatically. Codal is an abbreviation for “COmprehensive Data-base of All Listed companies” which is responsible for pub-lishing all announcements related to com-panies listed in exchanges.

• Market Surveillance Messages are pub-lished via a toolbar seen on each page of the website. As soon as a message is issued, an alert is shown on the toolbar. By clicking on the alert the messages will be shown.

• Stock Watch

o This section is developed to deliver impor-tant information about a specific compa-ny’s status. Data shown include:o Real-time information of trades regard-

ing that companyo News and codal’s announcements

regarding the companyo Information regarding other companies

falling in the same industry

o Market depth regarding that company

• Mutual Funds’ Data

o Data regarding Mutual Funds in Iran are reflected in this section.

o Comparison between different funds is possible in versatile periods.

o Funds’ Watch gives a general understand-ing of the status of funds, including the premier funds on weekly, seasonal and annual basis.

o Other Funds details shown are as follows: industries shares in their portfolio, their NAV performance and activity indices, shareholders, issuance and redemption price trends.

Pouya Finance is one of the first financial data processing companies specialized in Iran Capital Market. PFC is established and owned by Tadbir Pardaz Computer Group (TPCG) as its main shareholder in September, 2009. Applying TPCG’s 11-year valuable expertise and technology in financial markets, Pouya Finance is now a leading company of data dis-semination in Iran.

Special Report


Special Report NoticeAbout Mofid Mofid Securities Company is the leading brokerage firm mainly active in Iran Capital Market. Mofid creates financial products and offers financial services to its clients and investors. Hav-ing a qualified and diverse management team enables Mofid to benefit from coupling local knowledge and presence with global expertise.

Mofid publishes this newsletter, Iran Market Reporter (IMR), in order to keep its readers up-dated on the latest news and events of Iran capital market, especially Tehran Stock Exchange (TSE), as well as valuable information for individual and institutional investors.

Iran Market Reporter is distributed exclusively via email or hard copy amongst Iranian analysts and potential investors who have worked closely or have been in contact with Mofid Securities Company. Subscription to this newsletter is by referral only or through an online request sent to: [email protected]

www.emofid.com

Important NoticeThe contents of this newsletter are for the sole use of the addressee. All content in this file is owned and operated by MOFID SECURI-TIES COMPANY, and the copying or distribution of this newsletter, internally or externally, is strictly prohibited without the prior written permission and consent of MOFID SECURITIES COMPANY If you wish to distribute the file, please email the Subscriptions De-partment at [email protected], providing details of your subscription and the number of recipients you wish to forward or distribute this information to.

DisclaimerThis material is for information purposes only and does not constitute an offer to sell nor a solicitation of an offer to buy any specific securities.All information contained in this publication has been researched and compiled from sources believed to be accurate and reliable at the time of publishing. However, in view of the natural scope for human and/or mechanical error, either at source or during produc-tion, MOFID SECURITIES COMPANY accepts no liability whatsoever for any loss or damage resulting from errors, inaccuracies or omis-sions affecting any part of the publication. All information is provided without warranty, and MOFID SECURITIES COMPANY makes no representation of warranty of any kind as to the accuracy or completeness of any information hereto contained.This publication does not provide individually tailored investment advice and may not match the financial circumstances of some of its recipients. The securities discussed in this publication may not be suitable for all investors. The value of an investment can go down as well as up. Past performance is no guarantee of future success.

Documents

09IMR(January2012)