Following the first conference held on June 4, 2014, the second risk management conference was held at Borsa İstanbul Conference Hall on Tuesday, November 17, 2015 with the sponsorship of Türkiye İş Bankası.

The conference attracted significant attention with more than 300 participants. In six different panels entitled “What is Risk?”, “Risk Management in the Banking Sector”, “Risk Management for Financial Institutions and Institutional Investors”, “Risk Management using Islamic Products”, “Risk Management in the Energy and Iron and Steel Sectors”, and “Currency Risk Management for Real Sector Companies”, financial sector and real sector executives and risk management specialists from the academia shared their views on risk management.

In his opening speech, Borsa İstanbul CEO Tuncay Dinç talked about the evolving of risk management and risk management practices following the recent economic developments and crises; risks borne by real sector companies and their need for risk management; the importance of risk management for the dynamic Turkish economy growing open to the foreign countries; and the risk management instruments offered by Borsa İstanbul VIOP. Dinç continued to say, “We come across risk in every field of our lives. Following the company scandals that emerged particularly in the US in early 2000’s and the global financial crisis in 2008, companies’ perspective of risk changed dramatically. Global arrangements such as Basel criteria and countries’ local regulations were modified to reflect the transformation of risk perception during this period. Today, while companies face different types of risks, financial risk is still important. It is important to take the correct position in the derivatives market in order to ensure that financial risks are well-managed. VIOP offers a wide range of derivatives products which are traded not on Borsa İstanbul only, but also on other markets. Last September, derivatives products written on BIST 30 Index started being traded on the London Stock Exchange. Increased financial literacy is of utmost importance for the efficient management of financial risks and for the growth of the Turkish economy in a healthier manner and I attach great importance to such conferences in that respect”.

In his speech, Borsa İstanbul Executive Vice President Çetin Ali Dönmez touched upon the importance of risk management culture for companies to develop a sustainable management method, and the roles assumed by Borsa İstanbul VIOP and other financial institutions in securing the risk management instruments that companies need. Dönmez went on to say, “Well-rooted companies will ensure the Turkish economy to have stronger roots. It is only possible to manage companies in a sustainable manner provided that risk management culture is well established, which is a priority for us. VIOP and over-the-counter markets will fulfill their duties and ensure that the instruments required for risk management are offered”.

Borsa İstanbul Head of Derivatives Muammer Çakır delivered a presentation on the new products that VIOP offered for more efficient risk management, and VIOP’s fast growing traded value performance, number of open positions, and records. Çakır said, “Managing risk does not mean nullifying it. VIOP aims to offer the market the instruments required for risk management. Not financial institutions only, but real sector companies also can manage their risks using the instruments offered by VIOP. VIOP continues to develop new contracts to respond to the needs of the sector, apply market making programs to provide liquidity for these contracts, and develops solutions to facilitate foreign investors’ access to our market”.

Borsa İstanbul Derivatives Market (VIOP) is the region’s leading and most liquid derivatives marketplace where the investors and corporates come to manage their risk. VIOP offers the widest range of regional benchmark products across all major asset classes, including futures and options based on equity indices, currencies, interest rates, precious metals, commodities and energy with a central counterparty clearing service.