The certificates will be traded in the exchange’s domestic market for
commodity warehouse deposit certificates under the symbol “Metan1506P1R.” Each
certificate will be denominated in kilograms, with the price quoted in Iranian
rials, according to an announcement by the Iran Energy Exchange.
The certificates will have no expiration date, while the trading
period for the instrument will extend for 120 months from the opening of the
trading symbol.
Trading will be conducted through a continuous auction mechanism, with
no price fluctuation limit. The minimum price tick will be one rial, allowing
prices to adjust freely according to market supply and demand.
There will also be no ceiling on the amount of certificates that each
customer can purchase, according to the exchange.
Trading will be available Saturday through Wednesday, from 8:45 a.m.
to 3 p.m. local time. Transactions will be settled in Iranian rials on a T+1
basis, meaning settlement will take place one business day after the trade.
The introduction of the certificates provides a market-based mechanism
for trading claims on Sablan Petrochemical’s methanol production through Iran’s
organized commodity market, potentially broadening access to the product for
market participants.