Trading at Nasdaq started with the bell rang by Himmet KARADAĞ, the Chairman of the Board and the Executive Committee of Borsa İstanbul on January 24.
An Opening Bell Ceremony was held at Nasdaq Marketsite by Borsa İstanbul Exchange Group on the occasion of the launch of Türkiye Wealth Fund, established in 2016 with an aim to generate economic value for Turkey, allowing her to stand out in the global competition through effective management of public assets and to leave a promising future to Turkey’s future generations.
Chairman of the Board and the Executive Committee of Borsa İstanbul Himmet Karadağ, Nasdaq Marketsite Vice President David Wicks, Advisor to the Prime Minister of the Republic of Turkey İhsan Durdu, Akbank Chairman Suzan Sabancı Dinçer, Turcas Petrol Chairman Erdal Aksoy, Borsa İstanbul Board Members Işınsu Kestelli, İlhami Koç and Murat Tacir, accompanied by around 20 invitees attended the Opening Bell Ceremony.
In his speech, Borsa İstanbul Chairman of the Board and the Executive Committee Himmet Karadağ expressed his pleasure for being at Nasdaq and continued to say that 2017 would be a take-off year for Borsa İstanbul with the completion of the technological transfer on derivatives side and introduction of new products and services in other trading platforms and post-trade services, which would qualify it ready for the IPO planned for 2018. He also added that Türkiye Wealth Fund would have a positive impact on deepening of the capital markets through product diversity and all these developments would add up to Borsa İstanbul’s value. He ended his words by wishing that the establishment of Türkiye Wealth Fund would be to the benefit of the Turkish economy and people.
Nasdaq Marketsite Vice President David Wicks said that Nasdaq and Borsa İstanbul established a strategic partnership 3 years earlier to modernise the Turkish capital markets and position Borsa İstanbul as a strong hub in the region. He revealed that they were well on the way to delivering this vision; having completed the transformation of the Equity Market and ready to launch the Derivatives Market in Q1 with the Debt Securities and Precious Metals Markets due to be completed in the forthcoming months. He added that they were tremendously proud to be working with Borsa İstanbul in transforming the Turkish capital markets.
Borsa İstanbul Exchange Group
Borsa İstanbul Exchange Group offers a fully integrated business model ranging from trading, settlement, custody and registry services for equities, derivatives, fixed income & repo, precious metals and Islamic finance products.
With historical roots going back to 1873, Borsa İstanbul completed its demutualization and incorporation in 2012, and achieved horizontal integration via the acquisition of the derivatives and gold exchanges. Vertical integration with Takas İstanbul (Turkish CCP) and Merkezi Kayıt İstanbul (Turkish CSD) was achieved shortly thereafter. Hence, working together as an exchange group, it provides a broad range of financial services and efficient access to the flourishing Turkish capital markets.
Türkiye Wealth Fund
Türkiye Wealth Fund was founded as per the Law published in the Official Gazette on August 26, 2016 to effectively manage the selected assets of the Republic of Turkey and make viable investments to create a competitive Turkey with the aim of leaving a bright future for the future generations of Turkey. Its mission is to streamline Turkey’s process to become a world power in strategic industries through performance improvements in the current public assets and capital flow to financial markets.
Türkiye Wealth Fund was established to create and manage necessary funds, contribute to instrument variety and depth in capital markets, leverage from public assets within the country for the benefit of domestic economy, procure external resources, and to build and manage Türkiye Wealth Fund and its subsidiary funds so as to participate in strategic and large scale investments.
Taking into consideration the liquidity, investment, risk and return preferences in line with the objectives set out in the strategic investment plan, Türkiye Wealth Fund carries out purchase and sales activities with regard to shares of domestic and foreign companies, shares and debt instruments of issuers established in Turkey and other countries, derivative instruments of fund participation shares of capital market instruments issued based on precious metals and commodities, lease certificates, real estate certificates, tailor-made foreign investment instruments and other instruments on behalf of Türkiye Wealth Fund.