Turkish derivatives trading comes to the London Stock Exchange

London Stock Exchange Group today announces the launch of trading in Turkish equity index derivatives products on London Stock Exchange Derivatives Market, following a partnership agreement signed between LSEG and Borsa İstanbul earlier this year.

From Monday 14 September, London Stock Exchange’s global client base will be able to trade futures and options on the BIST 30 Index, Turkey’s leading index. The flagship BIST 30 Index futures currently trade, on average, more than 180,000 contracts per day on Borsa İstanbul Derivatives Market (VIOP). Liquidity will be provided on screen by market makers.

LCH.Clearnet will provide central counterparty services to London Stock Exchange Derivatives Market and its clearing members.

Mr Abdurrahman Bilgiç, Ambassador of the Republic of Turkey to the United Kingdom said:
“This partnership agreement is wide ranging and is designed not to just link the two stock markets but to create a lasting bond between the UK and Turkish financial centres – helping Istanbul to grow as an international financial hub. Indeed, positive developments in the Turkish economy in the last decade have brought Turkey and Istanbul to the forefront. Also, Turkey assumed the G-20 presidency this year.

Today will be another milestone in our economic and financial relations and will add more meaning to Borsa Istanbul’s motto: “Regional hub, global actor.”

Nicolas Bertrand, Head of Equities & Derivatives, London Stock Exchange Group said:
“The successful launch of BIST 30 Index futures and options is a significant step in the expansion of London Stock Exchange Derivatives Market and Borsa Istanbul’s capital markets business. It demonstrates our ongoing ability to innovate and present customers with unique global trading opportunities. It also reflects LSEG’s commitment to an open access approach, partnering with other exchanges like Borsa Istanbul as it builds on its ambition to become a major regional financial centre.”

Cécile Nagel, Global Head of Equities, LCH.Clearnet said:
“We’re pleased to be working with London Stock Exchange Derivatives Market and Borsa Istanbul to offer our members the ability to clear futures and options on the BIST 30 Index. This initiative demonstrates our ongoing commitment to expand our derivatives offering in partnership with trading venues. We are delighted to be part of this launch.”

Çetin Ali Dönmez, Executive Vice President Borsa İstanbul said:
“Reaching the global network of investors via LSEG is an important milestone for us in our strategic vision of strengthening the international position of Turkey in the global economy. This partnership enables us to expand our product offering and increases global investor base exposure. It allows easier access to the most dynamic and emerging economy of the region, in a cost efficient way thus giving investors an opportunity to diversify their portfolios. Additionally, trading of the BIST 30 Index futures and options on two different venues will boost total liquidity at both exchanges.”

Muammer Cakir, Head of Derivatives, Borsa İstanbul said:
“Listing BIST 30 Index derivatives at LSEDM will give us well-deserved visibility on a global scale. Additionally, trading and clearing at London Stock Exchange Group’s venues will offer a global client base a unique opportunity to have operational and collateral efficiencies which are invaluable in the post-crisis financial regulatory framework. Ability to access Turkish products in a single platform will also attract a new class of investors for Turkey, creating a virtuous cycle benefiting both markets.”

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