London Stock Exchange Group (LSEG) has launched trading in Turkish equity index derivatives products on London Stock Exchange Derivatives Market, following a partnership agreement signed between LSEG and Borsa Istanbul earlier this year.
From 14 September, London Stock Exchange’s global client base will be able to trade futures and options on the Borsa Istanbul (BIST) 30 Index.
BIST 30 Index futures currently trade, on average, more than 180,000 contracts per day on Borsa Istanbul Derivatives Market (VIOP). Liquidity will be provided on screen by market makers.
LCH.Clearnet will provide central counterparty services to London Stock Exchange Derivatives Market and its clearing members.
Abdurrahman Bilgiç, ambassador of the Republic of Turkey to the UK commented: “This partnership agreement is wide ranging and is designed not to just link the two stock markets but to create a lasting bond between the UK and Turkish financial centres.”
“[It] will be another milestone in our economic and financial relations and will add more meaning to Borsa Istanbul’s motto: ‘regional hub, global actor’."
Cécile Nagel, global head of equities at LCH.Clearnet added: “We’re pleased to be working with London Stock Exchange Derivatives Market and Borsa Istanbul to offer our members the ability to clear futures and options on the BIST 30 Index.”
“This initiative demonstrates our ongoing commitment to expand our derivatives offering in partnership with trading venues. We are delighted to be part of this launch.”
