What is ‘Exchange’
A stock exchange is a market organized for the purpose of buying and selling securities, commodities, options and other investments. But exchange is better known as the stock exchange. The word “exchange” is based on a house belonging to van der stock exchange, where merchants gathered to trade with each other.
Breaking Down The ‘Exchange’
Today, the word “exchange” is more commonly associated with the Paris stock exchange, Paris stock exchange and euronext in Paris.
The history of stock market
Historically, those interested in the exchange of goods and other investments met in common areas to discuss the transaction. Over time, traders have become more organized and the exchange process more codified, resulting in the development of exchanges such as the new York stock exchange (NYSE).
The first international Bourse was established in Antwerp in the 16th century. The Paris stock exchange dates back to 1720 and was completely redeveloped in 1999. It consists of a main exchange, equivalent to the new York stock exchange, plus the Matif (the derivatives exchange) and the Monep (the shares and options on market indices). The Paris Bourse and seven other major European stock exchanges agreed to a partnership in 1999, which will create a pan-European stock exchange. The same year, the Paris stock exchange has signed an agreement with the Chicago Mercantile exchange and Singapore international monetary exchange to create a “global Alliance” covering the European, American and Asian time zones, allowing for trading 24 hours a day.
The Iranian Oil Bourse
In 2007, Iran asked its petroleum customers to pay in US dollar. On December 8, 2007, Iran reportedly used all its export oil payments to non-dollar currencies. Kish (Iran) stock exchange was officially opened at a ceremony video conference on 17 February 2008. Currently, the Kish stock Exchange only trades in petroleum products, generally those used as feedstock for plastics and pharmaceutical industries.
Officially published statements by the Minister of oil of Iran Nazari Seagate to refer to the second stage, the Kish stock exchange, which will establish trading in crude oil directly. Such a step could function as a precursor for the creation of the “Caspian oil” base price analogue of Brent or WTI, but it will be only after the Kish stock Exchange demonstrates a reasonable period.
As of 2009, the Kish Bourse was a spot market for petrochemical products, plans to introduce Sharia-compliant futures contracts for crude oil and petroleum products in the second phase. Trading takes place through licensed private brokers registered with the securities and exchange organization of Iran. Any company, domestic or foreign, can list their funds on the exchange until they meet the criteria of the listing.