EBRD Sells 10% Stake In Borsa Istanbul01.02.2020
The EBRD has sold its 10 per-cent stake in Borsa Istanbul. The Bank had been a shareholder in Turkey’s sole exchange since December 2015.
The EBRD remains committed to further supporting the development of Turkish capital markets.
Under its new five-year country strategy for Turkey, approved by the Bank’s Board of Directors earlier this year, the EBRD will continue to support – through investment and policy advice – an enabling environment for local currency-denominated financial products and the deepening of local capital markets.
The Bank will also support the introduction of alternative sources of finance and new fixed and floating rate instruments, such as Islamic instruments, debt funds, project bonds and securitisation.
It will continue backing initial public offerings, making pre-IPO investments and supporting companies post-listing.
The Bank also aims to expand access to venture capital in direct investment and through early-growth and infrastructure funds.
The two platforms will link trading workflows in emerging markets bonds and currency swaps.
ADV rise of 22% was driven by record U.S. Treasury, emerging markets and municipal bond volume.
More than 70% of Liquidnet’s members are active in trading emerging markets.
International business has reached its largest share of total revenues.
There was record trading in emerging markets in the first three quarters of 2021.