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Promising days for Turkey's securities lending market
29 November 2011
Strong economic growth in the Mediterranean is increasing the supply of securities, but structural issues still present problems for the sector. Stephanie Baxter reports
Read more:
Turkey
Securities lending
TEB Securities
Takasbank
Turkey’s securities lending market is celebrating its sixth birthday this year but there is no time to rest as it builds on plans to expand into a domestic onshore hub.
The ambitions for this market are just a fraction of wider strategies to develop the country’s financial hub under the Istanbul Finance Project which is being led by the Turkish government and the capital markets regulator, the Capital Markets Board (CMB).
The securities lending market was first set up in November 2005 by Takasbank, which is the sole clearing and settlement bank for the country’s capital markets. The market is still in its infancy and there are some obstacles to its expansion, but word from the industry is that there is definitely room for potential.
“The market is at the very beginning stage and the trading value for this market is increasing day-by-day depending on the participation...
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