Tehran Stock Exchange Services Company (TSESC)
Encyclopedia
Tehran Stock Exchange Services Company (TSESC) is a subsidiary of the Tehran Stock Exchange
(TSE). TSESC was established on June 1994 in Tehran
as an independent company owned by TSE and its members. The TSESC’s main function is to develop, maintain, operate, and promote systems for all stages of the trade
-cycle services in Iran in order to attain highest level of efficiency and meet international standards. Specifically, TSESC is responsible to:
TSESC has operating facilities in multiple locations throughout Iran
.
TSESC is administrated by a Board consisting of five Directors: representatives of the TSE and member brokerage companies.
Managing Director of TSESC attends board meetings.
Tehran Stock Exchange
The Tehran Stock Exchange is Iran's largest stock exchange, which first opened in 1967. The TSE is based in Tehran. As of July 2010, 337 companies with a market capitalization of US$72 billion were listed on TSE...
(TSE). TSESC was established on June 1994 in Tehran
Tehran
Tehran , sometimes spelled Teheran, is the capital of Iran and Tehran Province. With an estimated population of 8,429,807; it is also Iran's largest urban area and city, one of the largest cities in Western Asia, and is the world's 19th largest city.In the 20th century, Tehran was subject to...
as an independent company owned by TSE and its members. The TSESC’s main function is to develop, maintain, operate, and promote systems for all stages of the trade
Trade
Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and...
-cycle services in Iran in order to attain highest level of efficiency and meet international standards. Specifically, TSESC is responsible to:
- Provide clearance, settlement, and information services for all securities traded in Tehran Stock Exchange (TSE) and other organized markets
- Provide custody and asset services as the Central Securities DepositoryCentral Securities DepositoryA Central Securities Depository is an organization holding securities either in certificated or uncertificated form, to enable book entry transfer of securities. In some cases these organizations also carry out centralized comparison, and transaction processing such as clearing and settlement of...
of Iran - Maintain all hardware and software used for trade and post trade activities of TSE and other organized markets in Iran
- Develop and enhance existing software applications to address ever changing TSE requirements
- Provide consultancy and technical advice to all stock exchangeStock exchangeA stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
s or interested organizations for trade and post-trade activities - Function as the National Numbering Agency of Iran
TSESC has operating facilities in multiple locations throughout Iran
Iran
Iran , officially the Islamic Republic of Iran , is a country in Southern and Western Asia. The name "Iran" has been in use natively since the Sassanian era and came into use internationally in 1935, before which the country was known to the Western world as Persia...
.
History
TSESC started its operation as a subsidiary of the National Informatics Corporation (NIC) of Iran in July 1984. Originally, TSESC developed, maintained and operated the computerized system of TSE used for trade and post-trade activities. In June 1994, TSESC was incorporated as an independent company under the ownership of the TSE, its members, and NIC. Currently, TSE and its members are the sole owners of TSESC. Additional services have been added to the list of its services since its incorporation as an independent company.Structure
TSE and its member brokerage companies own TSESC. TSE is the majority shareholder and few brokerage companies own a small percentage of shares at TSESC.TSESC is administrated by a Board consisting of five Directors: representatives of the TSE and member brokerage companies.
Managing Director of TSESC attends board meetings.