FEAS Yearbook FEAS Yearbook 2008 | Page 31
FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
ISTANBUL STOCK EXCHANGE
OFFICIAL 6 MONTH STATISTICS
US$ millions
Total Volume
Average Daily Volume
# Shares millions
Total Volume
Average Daily Volume
Stocks
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 29,592.97
27,302.05
23,842.22
23,359.24
21,327.69
18,578.92
144,003.09 1,345.14
1,300.10
1,135.34
1,112.34
1,015.60
928.95
1,139.58 8,691.66
9,601.09
8,663.80
9,646.06
7,612.61
7,462.73
51,677.95 395.08
457.19
412.56
459.34
362.51
373.14
409.97
Bonds
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 30,641.26
27,522.64
24,822.25
20,240.24
16,820.20
16,667.69
136,714.29 1,392.78
1,310.60
1,182.01
963.82
800.96
833.38
1,080.59 0.05
0.05
0.05
0.04
0.04
0.03
0.25 0.00
0.00
0.00
0.00
0.00
0.00
0.00
Other
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 193,584.36
184,359.22
0.00
197,680.58
205,845.76
172,711.73
954,181.65 8,799.29
8,779.01
0.00
9,413.36
9,802.18
8,635.59
7,571.57 0.06
0.06
0.00
0.06
0.06
0.06
0.30 0.00
0.00
0.00
0.00
0.00
0.00
0.00
Market Capitalization (US$ millions)
Index
Jan-08
227,258.26
2,128.70
Feb-08
232,189.84
2,189.96
Mar-08
187,969.15
1,739.06
Apr-08
209,830.94
1,969.98
May-08
223,656.47
1,928.74
Jun-08
193,695.50
1,676.85
PRACTICES & PROCEDURES
Trading
Days
Hours
Monday-Friday
Stock Market (SM) 09:30-12:00 / 14:00-17:00
Bonds & Bills Market (BBM) 09:30 -12:00 / 13:00 -
17:00
Foreign Securities Market (FSM) 9:30-12:00/13:00-
17:00
Market segmentation
SM segmentation: National, Second National, New
Economy, Watch List Markets , Exchange Traded
Funds (ETFs)
BBM segmentation: Outright purch. and sales,
repo/rev repo
FSM: International Bonds Market
System
SM, BBM, FSM: Automated, depository link, data
dissemination, reporting facilities, WAN
Mechanisms
SM, BBM, FSM: Multiple price continuous auction
Market-maker/Specialists SM, BBM, FSM: no
Instruments
SM: Stocks, rights coupons, ETFs
BBM: Gov.t bonds, T-bills, Money market instruments
(repo/reverse repo), Corporate bonds
FSM: Turkish Sovereign Eurobonds
Currency
SM: local
BBM: local and foreign
FSM: foreign
Real time information
SM, BBM, FSM: Market depth and basic data
Clearing & Settlement
Central Depository
Period
Registered
Settlement
SM, BBM, FSM: Yes
SM: T+2, BBM: T to upto T+90 days, FSM: T+3 to
upto T+15 days
SM, BBM: Bearer, FSM: Bearer & Registered
SM, BBM, FSM - Book Entry
Clearing
DVP
Clearing Institution
Risk Sharing
Margin/Lending
Custodians
Taxes
Cash Dividends
Interest Income
Capital Gains
SM, BBM, FSM: Yes
SM, BBM, FSM - Yes
Yes (ISE Settlement and Custody
Bank Inc.-Takasbank)
SM, BBM, FSM- Yes
SM, BBM, FSM - Yes
Institutional Investors, Brokerage
Houses, Banks, Exchange
Members, Clearing Members
Data not available
Data not available
Data not available
Structure & Regulations
Legal
Public entity without capital and
shareholder
Regulation
Self
Securities market
Exchange, regulatory authority
regulations
(CMB)
Trading rules
Exchange
Surveillance
Yes
Corporate actions
Equity (centralized), fixed income
(centralized)
Trading halts regulations Yes
Investor protection
Yes
Foreign Participation
Foreign investors
Investment limitations
Repatriation
Allowed, No restrictions
No limitations
No restrictions
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