The Istanbul Stock Exchange (ISE) celebrated the twentieth anniversary of its Bonds and Bills Market with the participation of the officials of capital markets institutions, ISE members and staff as well as the representatives of data vendors and media. The Bonds and Bills Market was established on June 17, 1991.
Among the participants of the celebration held at the ISE were, Prof. Vedat Akgiray, Chairman of the Capital Markets Board of Turkey; Mr. Mehmet Yörükoğlu, Deputy Governor of the Central Bank of Turkey; Mr. Coşkun Cangöz, Director General of Public Finance, Turkish Treasury; and Mr. Murat Ulus, General Manager of ISE Settlement and Custody Bank (Takasbank), as well as Mr. Yaman Törüner, former ISE Chairman, and Mr. Abdullah Akyüz, former Vice Chairman of the ISE, who played leading roles in establishment of the Bonds and Bills Market.
In his opening speech, Mr. Hüseyin Erkan, ISE Chairman & CEO, stated that the importance of organized markets was emphasized with the break-out of the global crisis in 2008, he said, “ISE envisaged the importance of an organized Bonds and Bills Market twenty years ago, and launched the Market. Today, the ISE Bonds and Bills Market sets an example for the world markets, and our experience is consulted on the international platform, from which we take great pride”.
RANKING EIGHTH AMONG THE WORLD MARKETS IN TWENTY YEARS
- The annual total traded value of the ISE Bonds and Bills Market, which stood at US$ 312 million in 1991, reached US$ 2.3 trillion in 2010.
- The share of over-the-counter market in fixed income securities trading was 90 percent in 1991, when the ISE Bonds and Bills Market was launched. Over the years, the share of over-the-counter market in fixed income securities trading fell to 17 percent, while that of the ISE rose to 83 percent.
- With its flexible, easily accessible, and reliable electronic trading platform that promptly responds to market needs, its settlement system, and efficient risk management mechanism, the ISE Bonds and Bills Market became the largest market of Turkey, and ranked as the eighth largest organized fixed income securities market in 2010. The ISE Bonds and Bills Market also operates one of the largest organized repo markets of the world. Consequently, the ISE Bonds and Bills Market is now a model analyzed in international meetings with regard to the success achieved in transferring of over–the-counter market operations to organized markets.
