FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT 2015
TURKEY
key CAPITAL MARKETS INFORMATION
Country Facts
Country
Turkey Legal Joint stock company, subject to private law
Capital Ankara Regulation Self-regulated institution
Area (km 2 ) 783,562 Regulator Capital Markets Board of Turkey (CMB)
Population (million) 77.7 (2014) Exchange Borsa İstanbul
GDP (USD billion) 800 (2014) Currency Turkish Lira (TRY) Memberships •
•
•
•
•
Securities market regulations Capital Market Law (No.6362), complemented by secondary regulations
imposed by national regulator, CMB
Markets •
•
•
•
•
•
Equity Market
Emerging Companies Market
Debt Securities Market
Derivatives Market
Precious Metals and Diamond Markets
Private Market
Number of traded securities •
•
•
•
437 traded securities
217 listed companies
159 unlisted companies
61 collective products incl. 15 ETFs
Traded value Incl. listed and unlisted equities: USD 399.145 billion
Post-trade institutions • İstanbul Custody and Settlement Bank, Takasbank
• Central Securities Depository, MKK
Settlement and clearing
standard Delivery vs. payment
Disclosure All traded companies and investment firms are subject to CMB disclosure
regulations.
Public Disclosure Platform, managed by MKK is accessible at www.kap.gov.tr
Trading rules Each market has its own trading rules, they are all accessible at
borsaistanbul.com/en/products-and-markets/markets
Surveillance Surveillance activities regulated by Capital Market Law, CMB communiqués,
exchange self-regulations
Corporate actions To be disclosed on Public Disclosure Platform, www.kap.gov.tr
Trading halt regulations Possible according to exchange rules
Investor protection According to Capital Market Law, Investor Compensation Center managed
by CMB
Types and rates of taxes For every instrument, a different tax regime is applied.
Capital restrictions There is no capital restriction for foreign investors.
Exchange rate (1 USD) 2.33
Time zone GMT+2
Calling code 90
key economıc data
ANNUAL GDP GROWTH RATE (%)
10
8
6
4
2
0
-2
-4
-6
2009
2010
2011
Turkey
2012
2013
EU
Source: World Bank
ANNUAL INFLATION (%)
9
8
7
6
5
4
3
2
1
0
2010
2011
2012
Turkey
2013
2014
EU
Federation of European Securities Exchanges, FESE
Federation of Euro-Asian Stock Exchanges, FEAS
Futures Industry Association, FIA
London Bullion Market Association, LBMA
World Federation of Diamond Bourses, WFDB among others.
Source: World Bank
GOVERNMENT CONSOLIDATED GROSS DEBT
(%) UNEMPLOYMENT, TOTAL
(% OF TOTAL LABOR FORCE)
100
90
80
70
60
50
40
30
20
10
0 12
Despite increased
volatility in emerging
markets, our market
capitalization was up by
14% to USD 270 billion in
2014.
10
8
6
4
2
0
2009
Source: Eurostat
46
“
2010
2011
Turkey
2012
2013
2010
EU
Source: Eurostat
2011
2012
Turkey
2013
EU
2014
”
FULL MEMBERS