Deutsche Börse and Turkey’s Istanbul Stock Exchange (ISE) have formed an agreement to support each other in developing their respective securities markets, carrying out joint research projects and assisting with marketing activities in Germany and Turkey.
The two exchanges have also stated their intention to cooperate in producing joint indices and product development for closer cooperation between Frankfurt and Istanbul.
“Deutsche Börse and ISE have already initiated a number of activities to facilitate the development of communication channels and to build up a continuous relationship between the parties for the respective benefit of the securities markets in Germany and Turkey,” said Frank Gerstenschläger, member of the Deutsche Börse executive board, responsible for the Xetra trading platform. “It is the intention of both parties to assist each other in their efforts to improve and promote their service portfolio in both countries.”
Hüseyin Erkan, CEO at the ISE, added that the participation of the ISE as a main sponsor in the German equity forum 2011 in Frankfurt illustrated the cooperation activities between the two exchange operators.
Deutsche Börse is currently awaiting approval from European regulators to merge with exchange group NYSE Euronext. Meanwhile Turkey is currently reforming its trading infrastructure and capital infrastructure to keep pace with international investor demand, and was recently characterised as the ‘Eurasian Tiger’ by Philippe Carré, global head of connectivity at financial technology provider SunGard.