Iran to Open 3rd Phase of Kish Oil Bourse http://english.farsnews.com/newstext.php?nn=9001120419

Iran is set to inaugurate the third phase of oil bourse on Kish Island in the Persian Gulf for trade in crude and petrochemical products with vast opportunities for foreign companies. The third phase of the oil stock exchange will be within the next few days on the island and one of the perks of the new phase is that it will be a venue for transactions of crude oil and petroleum products, the Islamic republic news agency quoted the Head of Iran's Securities and Exchange Organization Ali Sale Abadi as saying on Thursday. He also stated that all types of contracts in the oil bourse will be based upon global standards of purchase and sale and in accordance with Islamic rules, adding that it will further boost Iran's strategic significance in the region.