A New Era for the Turkish Financial Markets

The pace of the Turkish economy has been outstanding during the last couple of years. A high inflation period has ended and the economy has grown considerably. The EU accession process has accelerated economic and legal reforms and the need for an organized derivatives exchange in Turkey became much more apparent. After fulfilling all legal requirements, TurkDEX (Turkish Derivatives Exchange), a self-governing joint stock corporation, was formed and authorized by the Turkish Capital Markets Board to launch the first and only derivatives exchange in the country. The opening bell rang on February 4th 2005 and a new era for Turkey started on TurkDEX's electronic trading platform. The Exchange is headquartered in Izmir, which is the third largest city in Turkey. Izmir is located on Turkey's west coast along the Aegean Sea and also has the second largest port in the country.

As Turkey's first entirely electronic derivatives exchange, TurkDEX offers a core product base of financial and commodity instruments. Its primary objective is to develop and provide derivatives to help traders, hedgers, and investors manage their risks effectively.

An efficient, fair, transparent and investor-friendly trading platform is key to TurkDEX's success. With the launch of TurkDEX, market participants now have the proper tools for managing their exposures to price fluctuations in foreign currency, interest rates, equities and commodities.

Currently, TurkDEX offers short term debt, stock index, foreign currency and commodity future contracts, and plans to offer options on these contracts in the near future. TurkDEX is committed to meet the needs of its clients by quickly responding to their demands.

With a well functioning electronic trading platform, TurkDEX is operating via virtual access from everywhere, providing its clients with office independence, low transaction costs and liquidity. In addition to equal access for all participants, the trading system guarantees maximum accessibility, availability and provides instant order entry and matching.

Aiming to accelerate the growth of the Turkish financial industry as a whole, TurkDEX creates a new link between market participants and the financial markets. TurkDEX also wishes to expand the scope of its services by offering the following advantages:

  • Fair competitive environment and low trading costs
  • A strong leverage effect
  • Countrywide access based on reliable state-of-the-art technology
  • A sophisticated clearing and settlement infrastructure
  • Real-time margining and risk calculation