Efficiency Evaluation and Rating the Active Brokers in Iran Mercantile Exchange

The main purpose of this study is to evaluate the efficiency and rating of the active brokers in Iran Commodity Exchange using data envelopment analysis. To do this, the rating data of 70 active brokers in Iran Commodity Exchange Provided by the Securities and Exchange Organization. was used and broker’s efficiency was measured by using DEA-Master software. Also, efficient brokers were rated based on Anderson-Peterson method in two states of input oriented and output oriented. Results showed that, among the 70 brokers, only 30 brokers were efficient. Results also showed, brokers with top ranking according to the Securities and Exchange Organization, based on data envelopment analysis techniques are not necessarily efficient. In other words, some of low rated brokers by securities and Exchange Organization were more efficient than top rated brokers by Securities and Exchange Organization.