Recent start of trading in futures on the Istanbul Stock Exchange, which is tied to the index of Sarajevo Stock Exchange SASX-10 is just one in a series of projects that point out to a specific and intensive cooperation between the two stock exchanges,” said director of the Sarajevo Stock Exchange (SASE) Tarik Kurbegović.
On the occasion of listing and start of trading in futures tied to index SASX-10 on the Istanbul Stock Exchange today representatives of SASE and Istanbul Stock Exchange at a press conference in Sarajevo spoke about this model of trading, as well as the technical aspects of cooperation.
The first and very important project that the Sarajevo Stock Exchange has already realized with the Istanbul Stock Exchange, said Kurbegović, is the application that SASE together with the Istanbul Stock Exchange established for the purpose of distributing information from SASE to all global vendors.
The project that followed was trading in futures and the next that will be most important, said Kurbegović, would be linking the two exchanges via “order routing” system that will allow investors from the Istanbul Stock Exchange to directly via their brokers trade on SASE, and vice versa, which means that SASE investors will be allowed to trade on the Istanbul Stock Exchange.
Partnership with the Sarajevo Stock Exchange through this project, said the CEO of the Istanbul Stock Exchange Ibrahim Turhan, produces concrete results, and he said that they plan to discuss some future projects with Director of SASE Tarik Kurbegović.
“We see this partnership as a strategic one and it will be a long-term one, as well as the partnership between Bosnia and Herzegovina and Turkey,” said Turhan.
He added that Turkey is the 16th largest economy in the world and that it chairs the G20 group of the most developed countries.
“Istanbul alone generates 350 billion USD a year, and Istanbul Stock Exchange is by far the largest stock market in the region. Daily turnover on the Stock Exchange is 15 billion USD, which is more than the annual turnover of most stock exchanges in the region,” added Turhan.