Turkey's Borsa Istanbul offers new financial products

ANKARA (AA) – The Turkish stock market Borsa Istanbul on Tuesday announced that it has launched new futures and options contracts on the derivatives market, also known as VIOP.

"We will support our real sector by introducing USD/Turkish lira futures and options contracts with physical delivery," said Borsa Istanbul's CEO Korkmaz Ergun.

The new contracts will start being traded on Oct. 22, providing companies in the real sector and foreign trade to manage their exchange rate risks in a more competitive, secure, and transparent platform.

Asserting that another product they plan to introduce in the near future is government domestic debt securities (GDDS) futures contracts, Ergun said:

"In addition to banks, we expect other institutional and individual investors who have a bond portfolio and seek protection from changes in market interest rates to show demand for GDDS futures contracts."

He added: "Thanks to the new contracts starting to be traded on the derivatives market, we aim to meet the different needs of different investor groups in the precious metals, foreign exchange, and interest markets flexibly.”