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Turkey listings advance LSE’s derivatives ambitions 

September 15, 2015

Elliott Holley, Banking Technology

The launch of Turkish derivatives on the London Stock Exchange market represents part of the exchange’s long-cherished goal of growing its international derivatives business, and vindicates its ‘open access’ policy, it  says.

A deal between Turkey’s Borsa İstanbuland the LSE means that  futures and options on the BIST 30 index, which lists Turkey’s top companies, can be traded through the LSE from 14 September. The deal means that Turkish equity index derivatives will be available to any member of the LSE.

Cécile Nagel, global head of equities, LCH.Clearnet, said that it will also be possible to clear the transactions via LCH.Clearnet. But the real context of the deal is that it is part of a wider plan, long-held, to grow out the LSE Group’s derivatives business. “This [is] part of our commitment to expand our derivatives offering in partnership with trading venues,” she said.

The Turkish market is interesting, said Nagel, because the BIST 30 Index futures currently trade on average more than 180,000 contracts per day on the Borsa İstanbul derivatives market. That makes it an interesting proposition for investors looking to diversify their portfolios and gain access to one of the more interesting and dynamic markets in the region.

Read more: Banking Technology

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