Sabah - Turkey's Borsa Istanbul (BIST), one of the most profitable stock markets in the emerging world, has forged a strategic partnership deal with the US-based NASDAQ OMX Group, the owner and operator of NASDAQ stock market.
According to the deal announced on Wednesday, BIST will integrate and deploy NASDAQ OMX technologies for all its asset classes, including energy contracts. The deal aims to expand the Borsa Istanbul’s global presence, while strengthening its position as a regional hub for capital markets, the NASDAQ statement said.
“The strategic deal sees BIST and NASDAQ actively cooperating in their respective regions, also forming the basis of a strong partnership that will collaborate on business and investment opportunities in Eurasia..”, said BIST Chairman Ibrahim Turhan.
Istanbul Stock Exchange, Gold Exchange, and the Derivatives Exchange were merged to form BIST last April. Borsa Istanbul’s increasing international appeal is critically important for Istanbul’s rise as a regional and global financial center. The city ranks among the world’s top in economic growth, being the perfect emerging market example of a financial hub with its surging commerce and vibrant financial market.