Foreign banks are looking to expand their presence in Turkey’s derivatives market following the official launch of the country’s derivatives exchange, TurkDex, in February. Deutsche Bank and HSBC have so far gained membership of the exchange, while Citigroup is awaiting approval.
There are now 48 members of TurkDex, including most of the major domestic banks, and 11 more institutions are awaiting approval from the Capital Markets Board, the Turkish regulator.
“We’ve been waiting for this for
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