Borsa Istanbul's trade volume over $1.9T in 2017

By Gokhan Ergocun

ANKARA (AA) - The Borsa Istanbul's total trade volume in 2017 was 6.97 trillion Turkish liras (around $1.91 trillion), according to its first integrated annual report.

A total of 4.56 trillion liras ($1.25 trillion) of total trade volume came from debt securities market while 1.47 trillion liras ($400 billion) was from the equity market during the year, the report showed.

In the previous year, total trade volume was 13 trillion liras ($4.3 trillion), which consisted mostly of debt securities.

The report said the Borsa Istanbul Equity Market was ranked first in Europe and third in the world in terms of turnover velocity, according to the World Federation of Exchanges data.

The market was also ranked seventh in terms of equity traded value, and fifth in terms of bond traded value in Europe.

The Borsa Istanbul's net profit jumped by 52 percent to reach 420 million Turkish liras ($115.06 million), year-on-year, in 2017, the report said.

The report showed that its revenues soared 19 percent to 1.05 billion liras ($286.8 million) in the year, compared to the previous year.

The company's total assets were 11.88 billion liras ($3.26 billion), total liabilities were 10.32 billion liras ($2.83 billion), while its total equity was 1.56 billion liras ($428.2 billion) in 2017, the report said.

Capitalization of the Borsa Istanbul Equity Market was 800 billion liras ($219.18 billion) in 2017, up from 614 billion liras ($202.6 billion).

"The trade volume of the precious metals and diamond markets reached its highest figure by 457 tons in 2017," the report said.

It added: "The total trade volume of the derivatives market, which was 607.2 billion liras ($200.4 billion) in 2016, increased by 42.9 percent in 2017 and reached 867.8 billion liras [$237.8 billion]."

The Borsa Istanbul's BIST 100 index rose 47.6 percent to reach 115,433.00 points in 2017, from 78,138.66 points in the previous year.

The Turkey Wealth Fund has 73.6 percent shares of the company founded in 2012, while European Bank for Reconstruction and Development has 10 percent, Nasdaq 7 percent, Turkish Capital Markets Association 1.3 percent and others 8.1 percent.

"In our strategic framework, we defined Borsa Istanbul’s goals as achieving sustainable income flow and structure, operational efficiency, and inorganic growth," Himmet Karadag, chairman of the board and the executive committee of Borsa Istanbul, said in the report.

One U.S. dollar was traded on average for 3.03 liras in 2016 and 3.65 liras in 2017.