Istanbul, Athens close to creating joint index

Bloomberg

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The exchanges are about to sign an agreement for the common index of the 15 biggest listed companies from each country, Erkan in an interview in his office overlooking the Bosphorus straits in Istanbul Tuesday. There will be a maximum of four Turkish banks on the index, he said without providing further details.

The Istanbul exchange also awarded a license to a Turkish bank to set up an exchange-traded fund for the IMKB-30, the index of Turkey’s 30 biggest listed companies, Erkan said. The fund, which will probably start trading in a month, will have a minimum size of 100 million Turkish Liras ($62.5 million), he said without providing further details.The exchange plans to introduce warrants for the first time in June after completing technical work, Erkan said. Stock options may arrive a year later, he said. Plans to introduce single stock futures are awaiting approval from Turkey’s capital markets regulator, Erkan said.