for the rial known as the "TSE rate". In 2002 the "official rate" was abolished, and the TSE rate became the basis for the new unified foreign exchange regime. OTC market Since 2009, Iran has been developing an over-the-counter (OTC) market for bonds and equities (aka Iran Fara Bourse or Farabourse). Its shareholders include the Tehran Stock Exchange Corporation (20%), several banks, insurance companies and other financial institutions (60%), and private and institutional shareholders (20%). As of July 2011, Farabourse has a total market capitalization of $20 billion and a monthly volume of $2 billion. Brokers Trading takes place through licensed private brokers registered with the Securities and Exchange Organization of Iran. Thirty-one of the 88 brokerages active in the TSE are licensed to trade the futures contracts. The leverage for futures contracts is set at 1-to-10. TSE will only deal in the derivatives through electronic trading. As of 2013, Mofid, Keshavarzi, Agah and Nahayat Negar were the top 4 performers among TSE's brokerage firms. These firms executing 41% of the total value in on-line trading. Electronic trading and market data Starting March 2011, investors are able to trade in the Iranian stock market through the Internet from anywhere in the world, or get all the necessary information before traveling to Iran. There are 87 online service providers which offer round-the-clock information and services about Iran and its stock market. As of September 2011, 40,000 shareholders are registered and conducting transactions online. In 2013, 83 brokerage firms (out of TSE's 93 firms) offered on-line transactions, accounting for 18% of the total trading value. In 2014, Iran's TSE was in talks to share its trading data with Thomson Reuters (and Bloomberg L.P. in 2015) once the sanctions are lifted. Trading fees As of July 2010, trading fees include: Equities and rights: 0.55% payable by the sellers and 0.5% the buyers. Participation bonds: 0.1% of transaction value payable by both the buyer and seller with a maximum of 100 million IRR. New products and services Presently, TSE trades mainly in securities offered by listed companies. As of 2015, equities and corporate bonds (e.g. Sukuk) are being traded at TSE. The plan is to introduce other financial instruments in the near future. The introduction of project-based participation certificates that bear a fixed annual return during the period of the project and promise the final settlement of the profit at the date of its