Institutional investors can now trade Turkish listed securities through Liquidnet’s platform.
Institutional investors can now trade Turkish listed securities through Liquidnet’s platform.
Liquidnet now provides access to 40 equity markets. Trades of Turkish equities will be executed via Liquidnet’s appointed local broker on the Istanbul Stock Exchange.
“The Turkish economy has shown strong signs of growth despite global macro volatility, capturing the interest of portfolio managers globally,” says Per Lovén (pictured), head of corporate strategy for Liquidnet Europe. “As Turkey continues on its path to becoming a regional financial powerhouse, institutional investors looking to unlock value in Turkish growth companies will now be able to source large-scale liquidity in those equities, with minimal market impact, through our trading network.”
In June this year, Turkey’s credit rating was upgraded to one step below investment grade by Moody’s Investors Service, which cited the country’s improving fiscal conditions as its primary impetus. Today, there are more than 1,000 companies traded on the Istanbul Stock Exchange with a total domestic market cap of TRY472.6bn. EUR422m of new capital alone was channelled through the exchange via IPOs in 2011.
“Turkish equities are attractive from an investment perspective, and the addition of a new market to Liquidnet is welcomed as the ability to trade Turkish equities anonymously, in block size, is a favourable solution,” says Mandy Pike, global head of equity dealing at Aberdeen Asset Management.
