LONDON
A strategic partnership agreement was signed Tuesday by the London Stock Exchange Group and Borsa Istanbul to list some Turkish securities on the British exchange.
Turkish futures and options based on the BIST 30 Index will be listed in London. Trades will be cleared by LCH.Clearnet, the LSE’s clearing house. There are plans for the two exchanges to create a new stock market index as well.
Speaking in the forum entitled “Istanbul: Regional Hub, Global Actor," Ibrahim Turhan, CEO of Borsa Istanbul, said that from now on foreigners would be able to invest in Turkish securities much more easily thanks to the London listings.
The Turkish government plans to sell its 49 percent stake in Borsa Istanbul with a privatization offer in the near future. All of this is part of the creation of an international financial center based around Borsa Istanbul.
