Borsa İstanbul Derivatives Market (VIOP) Second Working Group meeting was held on April 16, 2015. Very well received by Borsa İstanbul members, the meeting was attended by the representatives of İstanbul Takas ve Saklama Bankası A.Ş. as well.
At the meeting, VIOP Group Manager Muammer Çakır delivered a one-hour presentation, evaluating the data for the first quarter of 2015. During the first quarter of 2015, VIOP’s traded value increased by 41% compared to the same period 2014, reaching TL 140 billion, while the traded value of currency futures contracts registered an increase by 216% and the share of foreign investors in traded value increased to 28%. The other highlights for the period were as follows: On February 27, 2015, the daily traded value of USDollarTL futures contracts exceeded TL 1 billion, reaching an all-time-high; the daily traded value reached an all-time-high of TL 5 billion on February 25, 2015; the total monthly traded value in March 2015 reached a record level of TL 53 billion; the daily number of trades reached nearly 700,000 on March 19, 2015, registering a new record; the number of open position in currency futures contracts exceeded 400,000 for the first time and currency futures contracts broke a new record of TL 9 billion in March.
Furthermore, results of the “market making based on income sharing model”, implemented in the Turkish markets for the first time on January 2, 2015 were evaluated. The fact that the traded value of single stock futures contracts where the new market making model is applied was very well received.
Borsa İstanbul members were informed about the new scrap steel futures contracts that have been recently introduced for trading, as well as the new contracts to be launched. The positive effects of the third VIOP Virtual Portfolio Competition (VIOPS) for training investors were appreciated.
During the rest of the meeting, Borsa İstanbul members advised VIOP and Takasbank officials about their opinions and requests, and expressed their appreciation for the increased traded value in VIOP and the performance of the new products.
