Ready for take-off

The Turkish Derivatives Exchange has had a challenging first year since starting operations last February. But changes to contract design and market regulations should give volumes a boost, says TurkDex chief executive Hamdi Bagci. By Jayne Jung

The Turkish Derivatives Exchange (TurkDex) opened its doors to traders in February last year. But some of the exchange’s derivatives contracts have failed to take off as quickly as had been hoped, with regulations and trading restrictions largely to blame. Albert Krespin, an Istanbul-based assistant vice-president of equity derivatives at Bender Securities, says turnover in interest rate futures and commodities contracts has been especially disappointing, and that most of the focus to date

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Stemming the tide of rising FX settlement risk

As the trading of emerging markets currencies gathers pace and broader uncertainty sweeps across financial markets, CLS is exploring alternative services designed to mitigate settlement risk for the FX market

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