Iran's main bourse, Tehran Stock Exchange (TSE), is in talks to share its trading data with Thomson Reuters Corp. once the main sanctions on Iran are lifted, the head of the TSE said.
The discussions between the New York-based financial information company and the TSE are the latest evidence of how keen foreign companies are to enter the frontier market, when Iran is permanently reintegrated into the global economy, the Wall Street Journal reported.
Under a deal agreed late last year between Iran and six global powers, Western countries have already eased economic sanctions on Iran for the first six months of this year.
Hassan Qalibaf, chief executive of the TSE, confirmed a meeting had taken place with Thomson Reuters representatives on Wednesday this week during a visit by its officials to London.
"They are interested in disseminating the trading data of the Tehran capital market," he said, during an interview with The Wall Street Journal in the UK capital.
Qalibaf, who was accompanied to London by officials from some Iranian companies, said the group is seeking to attract foreign investment in companies listed on the exchange. Some Iranian petrochemical and copper companies are also considering a dual-listing in Europe, he said.
He said asset managers from the European Union had visited him recently in Tehran while more than 100 financial professionals had signed up to meet the group this week in London.
Heavy domestic interest in stocks has helped the Tehran bourse's main index to rise 130% this year, as investors seek havens for their cash. Companies listed on the exchange have a combined market capitalization of $106bln, Qalibaf said.
Nigel Kushner, head of London's sanctions law firm W Legal, said there were promising opportunities for investment in Iranian stocks.