Borsa Istanbul (Istanbul Exchange)

Exchange entity Borsa Istanbul
Conducts business in Turkey
Number of listed companies (dec./16) 381
Domestic market capitalization (in Millions USD, dec./16) 157,702
Has signed the SSE Commitment Letter? Yes
Has prepared SSE Communication to Stakeholders? Yes
Requires ESG reporting as a listing rule? No
Offers written guidance on ESG reporting? Yes
Offers ESG related training? Yes
Provides sustainability-related indices? Yes;
Has green bond listings? No
Additional information
Organizational model of stock exchange
  • Demutualized for profit; demutualized in 2012
Regulatory bodies
Regulatory model
  • Government (Statutory) Model The Capital Markets Board of Turkey dictates the operational principles of capital markets in Turkey. In addition, the organization regulates and supervises public companies, listed companies and several capital market institutions including Turkish exchanges. However, Borsa Istanbul has the authority to regulate its own market, listed companies and financial products. This results in a limited SRO model but due to the regulatory authority's involvement, the exchange itself has little regulatory power.
About the stock exchange
  • Location: Istanbul, Turkey Following the enactment of the new Capital Markets Law at the end of 2012, Borsa İstanbul A.Ş. was founded as a result of the demutualization of Istanbul Stock Exchange, horizantal integration of the exchanges of Turkey trading various asset classes and their merger under the roof of Borsa İstanbul. Currently, Borsa İstanbul is the only licensed operator of capital markets in Turkey, regulated and supervised by the CMB. Borsa İstanbul provides a fair, transparent, and efficient environment for the trading of a wide variety of securities including equities, exchange traded funds, warrants, certificates, government bonds, sukuk, corporate bonds, repo and reverse-repo agreements, foreign securities (Turkish Treasury Eurobonds), derivatives and selected commodities. Borsa İstanbul is targeting to become a leading stock exchange of a size reflecting Turkey’s potential in terms of the number of publicly traded companies and market capitalization. This goal couples with maximum participation by domestic and international portfolio investors who trade both local and foreign capital markets instruments. Borsa İstanbul envisions a world-class in-house exchange technology which enables, among other things, linkages with other markets. This vision will add value to the drive of making Istanbul an international financial center. Source 
Ownership of Exchange (Shares >4% only) Share
Republic of Turkey Prime Ministry Undersecretariat of Treasury 73.6%
European Bankf or Reconstruction and Development 10.0%
Others 9.40%
Nasdaq 7.00%