Takasbank’s three major projects
Efforts to establish a special commodity exchange have gained momentum, with a launch date soon. The effects of the exchange on Takasbank’s activities has been assessed and negotiations with the Customs and Trade Ministry are being held.
BORSA ISTANBUL MONEY MARKET:
The government’s action plan aims to support corporate investors in equity markets. To do that, it plans to help further develop and deepen organized financial markets and aims to establish a long-term (one to three months) reference interest rate for lira-based debt security exports and swaps. The Borsa Istanbul Money Market was established with the guidance of the Undersecretariat of Customs and the Central Bank on Oct. 14, 2016. The clearing services are undertaken by Takasbank, which also offers central counterparty services.
NATURAL GAS MARKET:
Under the Energy Exchange Istanbul
(EXIST, EPIAS) platform, a natural gas market initiative is being developed to offer clearing and collateral management services. EXIST plans to launch the projects in 2017 and negotiations are ongoing.