The Tehran Stock Exchange is one of the older bourses in the Middle East. Reuters
The Tehran Stock Exchange is one of the older bourses in the Middle East. Reuters
The Tehran Stock Exchange is one of the older bourses in the Middle East. Reuters
The Tehran Stock Exchange is one of the older bourses in the Middle East. Reuters

Tehran stock exchange suffers brief disruption


Alvin R Cabral
  • English
  • Arabic

The Tehran Stock Exchange, Iran's biggest bourse, suffered a brief disruption on Monday morning.

The glitch, which occurred after 9am, affected "transactions during capital market trading", according to the state news agency Tasnim. However, it did not give further details on the cause of the disruption.

"The exchange's trading system TSETMC ... that has been disrupted is the only platform used. The system allows traders and stockholders to connect and be able to share information about the transactions taking place," a translated version of Tasnim's report said.

"The TSETMC platform is the only platform that allows for instant trading. Without it traders will lack the proper resources to be able to make their trades, which can lead to more disruptions and confusion."

Iran International, a London-based Arabic television channel, reported the glitch at about 10am, quoting state news agency Tasnim's Telegram channel.

"Tasnim News Agency reported that the stock exchange trading system was disrupted during Monday's trading in the capital market and this disruption continues," it said.

About half an hour later, social media channel Econ Fouri said that operations had "returned to normal" as the "disruption was resolved".

No further details were available on Tasnim or any other platform after the issue was fixed.

Established in 1967, the TSE is one of the older stock exchanges in the Middle East and is one of four bourses in Iran. Others include the financials-focused Iran Fara Bourse, the Kish Stock Exchange, which is centred on oil, and the Tabriz Stock Exchange, the country's second regional stock market.

The TSE has a market capitalisation of $1.22 trillion, according to TradingHours.com, and about 700 listed companies.

Saudi Arabia is home to the Middle East's largest bourse, with a market capitalisation of about $2.57tn.

The TSETMC platform is the only platform that allows for instant trading. Without it traders will lack the proper resources to be able to make their trades which can lead to more disruptions and confusion
Tasnim News Agency

Stock market disruptions are not uncommon around the world and are mainly caused by system glitches or cyber attacks, which are capable of halting trading activity for hours or even days.

In October 2020, the Tokyo Stock Exchange, the world's third-largest bourse, experienced its worst disruption after halting trading for an entire day due to a hardware breakdown.

A cyber attack on the New Zealand stock exchange in August 2020 stopped trading for more than four days. In February, a hardware failure caused a major disruption at the TMX Group, Canada's biggest stock exchange operator.

In November 2019, connectivity problems disrupted Nasdaq’s Nordic and Baltic stock market operations. The New York Stock Exchange suspended trading in five stocks in April 2018, including Amazon and Google parent Alphabet, due to a technical glitch.

Origin
Dan Brown
Doubleday

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Director: Zoya Akhtar
Producer: Excel Entertainment & Tiger Baby
Cast: Ranveer Singh, Alia Bhatt, Kalki Koechlin, Siddhant Chaturvedi​​​​​​​
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War 2

Director: Ayan Mukerji

Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana

Rating: 2/5

Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Sunday's games

All times UAE:

Tottenham Hotspur v Crystal Palace, 4pm

Manchester City v Arsenal, 6.15pm

Everton v Watford, 8.30pm

Chelsea v Manchester United, 8.30pm

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Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


- Abdullah Ishnaneh, Partner, BSA Law 

UAE currency: the story behind the money in your pockets
Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
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The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

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  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
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Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

HIJRA

Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy

Director: Shahad Ameen

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Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

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What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

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Courtesy: Crystal Intelligence

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
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South Africa squad

: Faf du Plessis (captain), Hashim Amla, Temba Bavuma, Quinton de Kock (wkt), Theunis de Bruyn, AB de Villiers, Dean Elgar, Heinrich Klaasen (wkt), Keshav Maharaj, Aiden Markram, Morne Morkel, Chris Morris, Wiaan Mulder, Lungi Ngidi, Duanne Olivier, Vernon Philander and Kagiso Rabada.

Updated: January 03, 2022, 12:02 PM`