The Tehran Stock Exchange (TSE) has awarded AtosEuronext a contract to overhaul and modernise its trading, clearing and settlement systems. The move is part of the exchange's plans for international expansion.
Created in 1968, the TSE has been growing continuously since 1993 and currently lists more than 420 companies. Hossein Abdoh Tabrizi, secretary general of the exchange, says the TSE is now looking to develop its international activities.
Under the deal, AtosEuronext will supply and implement a system based on its automated trading technology, NSC. The vendor will also provide its Pam order management system, market monitoring and alert application, Aramis, clearing and settlement system Sara and trading workstations which will include functionality for onlinee trading.
Dominique Brutin, CEO of AtosEuronext, says the products are customised for use by companies in the Middle East.
AtosEuronext also provides technology to other exchanges in the region, including the Jordanian and Lebanese financial exchanges and most recently the Muscat Securities Market. The vendor has also secured a contract to develop an automated trading platform for The Dubai International Financial Exchange (DIFX), which is due to launch in September.