In line with the vision of Istanbul International Financial Center, Borsa Istanbul and its subsidiaries Clearing House of Turkey (Istanbul Takas ve Saklama Bankası A.S., Takasbank) and the Central Securities Depository of Turkey as Borsa Istanbul Group continues to work under the leadership of Republic of Turkey Ministry of Treasury and Finance. New products and new markets are processing in Borsa Istanbul Group, in coordination with regulatory authorities especially with Central Bank of the Republic of Turkey and Capital Markets Board of Turkey.
In this context, the swap market, one of the most active markets in the global financial markets, has started to be established in Borsa Istanbul to serve all financial sector participants, especially our banks. Takasbank will carry out the clearing transactions of this market as Central Counterparty Clearing House (CCP) and will provide risk and collateral management services in line with global best practices. With the operation of the SWAP market in Borsa Istanbul, it will be possible that such transactions, which are mostly carried out on over-the-counter market, can also be carried out more confidentially in an organized market in our country. In the operation of the market, basic issues such as market making and liquidity providing will be discussed with all stakeholders and announced to the public.
In the first stage, the SWAP market is planned to be operated for foreign exchange markets and Borsa Istanbul will continue to work on new products and markets. We will also accelerate the work that will increase the depth of our existing derivative markets and add value to the country's economy.
Respectfully announced to the public.
Borsa Istanbul A.S.
Istanbul Takas ve Saklama Bankası A.S.
