The Commodity Futures Trading Commission has issued a no-action letter which permits the offer and sale of a futures contract based on Turkey's blue-chip stock index.
US investors will be now be able to trade futures based on the ISE-30 index, which is a free float, market capitalisation-weighted composite index of the 30 most actively traded stocks on the Istanbul Stock Exchange's national market. It is listed on TurkDEX, the Turkish derivatives exchange.
Trading of the ISE-30 contract by US investors can be done through a local broker or a registered futures commission merchant that has membership or clearing links with TurkDEX.
The ISE-30 currently accounts for 70% of Turkey's market volume and capitalisation.