Initially, the capital market development fund was operated as an affiliated entity by Amin investment bank and then Iran Financial Center. The first investment managers of the fund were Ali Khosroshahi, Alireza Siari, and Saeid Beigi, and later Mohammad Hossein Sadraei. From 2016 until now, after the request of the fund unitholders assembly as the highest decision-making basis, this fund is managed as an independent and self-organizing institution by the members of the Board of Directors consisting of Tejarat Bank with representation Mohammad Hossein Sadraei as the Chairman and CEO, Sepah Bank with representation Habib Reza Haddadi as the Vice-Chairman and Mellat Bank (Bank Melli Iran) with representation Mohammad Ebrahim Aghababaei. Capital Market Development fund was registered on February 9th, 2013 with no. 30895 in Tehran companies and noncommercial institute’s registration office. The registered capital of the CMD fund is about 7,143,000 dollars. CMD fund’s capital is currently about 2.734 billion dollars (Each dollar is equivalent to 42,000 Rials). The main purpose of the CMD fund is to help market liquidity. The fund is also active in other fields, including helping to boost the derivatives market, and is one of the first of the two stabilization mutual funds in Iran.