Istanbul exchange to be established in Turkey

Business Materials 18 October 2012 14:59 (UTC +04:00)

Azerbaijan, Baku, Oct.18 /Trend corr. A.Tagiyeva/

A single Istanbul exchange will be established in Turkey instead of the Istanbul Stock Exchange and Gold Exchange, Anadolu agency reported on Thursday.

The draft law on establishment of the Istanbul exchange has been approved by the Turkish Planning and Budget Committee.

All functions of the two bodies will be passed to the new exchange and the staff of these exchanges will operate under a single Istanbul Exchange.

A 49 per cent share of Istanbul exchange will be owned by the Turkish treasury.