Introduction

In accordance with the 40th article of Capital Market Law no. 2499, TURKDEX is the first private exchange in Turkey, established on the Cabinet’s resolution no. 2001/3025 which has been officially announced through Official Gazetta, dated October 19, 2001, following the State Ministry’s resolution no. 2381, dated September 3, 2001 on the basis of approval statement no. 9/1101 of Capital Markets Board of Turkey, dated August 17, 2001.

TURKDEX started its operations right after the company was registered in Registry of Commerce. This registration was officially announced through the Gazetta of Registry of Commerce, dated July 4, 2001.

Shareholders of TURKDEX are as follows:

  • The Union of Chambers and Commodity Exchanges of Turkey, is the greatest representative of business environment with chambers and exchanges more than 350 and with members more than 1 million.
  • Izmir Commodity Exchange, is the institution, taking a leading role in the establishment of Turkdex, with a background of experience and knowledge going beyond a century.
  • Borsa İstanbul A.Ş., is an internationally well known stock exchange of Turkey.
  • Is Investment Securities, is a subsidiary of Is Bank which is one of the most reputable and financially solid banks of Turkey.
  • Yapı ve Kredi Bank, is one of the most reputable and financially solid banks of Turkey.
  • Türkiye Vakiflar Bankası T.A.O., is one of the most reputable and financially solid banks of Turkey.
  • Garantibank, is one of the most reputable and financially solid banks of Turkey.
  • Akbank, is one of the most reputable and financially solid banks of Turkey.
  • Industrial Development Bank of Turkey, is the bank financing medium and long-term investments and it is owned by a consortium of well known banks of Turkey.
  • ISE Settlement and Custody Bank, is the institution that is in charge of realizing clearing transactions and custodian services for brokerage houses and banks that are authorized for capital market operations.
  • The Association of Capital Market Intermediary Institutions of Turkey, is a public organization which aims to contribute to development of the capital market and intermediation activities.

Futures and options exchanges are one of the main institutions of liberal economic systems. Although negative developments impacted the financial markets in recent years, trading volumes of futures exchanges have continued to increase during that period.

In a free market economy, prices are determined by supply and demand. In Turkey, privatization has been gradually increasing and the governments implement policies to provide such a free market. In addition, free capital flows between countries are encouraged and restrictions are being abolished in accordance with new legislations. As a result of such developments in terms of a free market economy, the need for risk management tools is obvious. Turkdex is offering significant opportunities and instruments to those who need to manage such risks.

In order to meet these needs more efficiently, Turkdex continues to work on both design of the exchange and development of new products.