With volumes jumping by half during a recession-hit 2009 – after more than doubling for the previous three years – the Turkish Derivatives Exchange has made a solid start. But as Tom Osborn discovers, the exchange has much bigger plans.
“We hope to be one of the top derivatives exchanges around the world,” says Yaman Basaran, deputy CEO of the Turkish Derivatives
Exchange, when asked where he sees his exchange in a few years’ time. Ambitious maybe – but there’s no harm in aiming high.
Volume has been muted this year, but the first year’s tally of 1.77m contracts in 2005 grew to 79.4m in gloom-laden 2009.
“We’re just getting established. It’s a very new exchange, but we have a liquid index contract. We have the potential for stock options and interest rate futures,” Basaran adds. And while its volumes – of which about three quarters come from ISE 30...