IRAN ENERGY EXCHANGE INTEGRATED SETTLEMENT SYSTEM INAUGURATED AT CSDI
CSDI inaugurates launch of Iran Energy Exchange Integrated Settlement System in a ceremony at its headquarters in Tehran.
Central Securities Depository of Iran has inaugurated launch of Iran Energy Exchange Integrated Settlement System in a ceremony attended by high ranking representatives of the Iran capital market.
Energy Exchange Integrated Settlement System aka ENEXIS has been designed and implemented by Central Securities Depository of Iran for the settlement of financial transactions taking place on Iran Energy Exchange (IRENEX) trading floor as part of a broad infrastructure covering the energy physical market in commodity exchanges back in 2017.
Addressing the ceremony, Managing Director of Iran's Energy Exchange, Seyed Ali Hosseini, said the capital market is heading towards ever more transparency thanks to benefits of Information Technology (IT) to prevent corruption.
Also present, Head of Securities and Exchange Organization (SEO), Shapour Mohammadi, hailed CSDI's efforts in providing a systematic "integrated" infrastructure throughout the whole capital market, saying "this system is particularly iconic as a result of a praiseworthy cooperation project among Central Securities Depository of Iran, Iran Energy Exchange and Tehran Securities Exchange Technology Management Co."
Mohammadi said, "Under the new Energy Exchange Integrated Settlement System, the market will be less exposed to operational risk, which is among the main concerns and responsibilities associated with Central Securities Depository of Iran."
The SEO Chief went on to say that, "large volumes of energy trades that require manual human intervention - which is time consuming and highly prone to error – is costly whereas now, thanks to ENEXIS the process will be maximally faultless, transparent and fair.
Later on during the ceremony, CEO of Central Securities Depository of Iran (CSDI), Hossein Fahimi, said "We are expecting a major breakthrough across the energy trade system in the commodity exchange.
Considering the large volume of trades, Fahimi said thanks to the modular design of software, hardware and structure of the system, it is highly flexible and upgradable so much so that new features could be added to it based on the latest market needs.
Later in his remarks, the CSDI Chief touched upon other benefits of the newly launched system including developing the means to track and verify the status of containers provides benefits that go beyond security as part of a more sophisticated post-trade system.
Central Securities Depository of Iran designed and implemented a comprehensive system for the settlement of financial transactions taking place on Iran Energy Exchange (IRENEX) trading floor as part of a broad infrastructure covering the energy physical market in commodity exchanges back in 2017.
The project went through several phases namely analysis, proposal, process analysis, design, implementation and finally test-launch of the software. The software is capable of performing all pre- and post-trade settlement processes electronically in an integrated platform.
Release Date: 2019-03-10