Turkey’s Forex market to grow in 2013

Explaining that the Forex, which has become one of the world's key markets in recent years, will only continue to grow, İş Yatırım Securities Marketing Manager Can Pamir says, "With over four trillion dollars worth of transaction volume, in which nations exchange foreign currency or forex in spot transactions is considered to be the world's most liquid market.

Access and technological developments in recent years have made things much easier for financial market players which have always harbored an interest in the forex market.

Parallel to this, small portfolio independent investors are now able to conduct a serious volume of transactions on foreign exchange parities by using computers or mobile devices."

OVER FIVE BILLION DOLLARS A DAY

Can Pamir goes on to explain that for a long time in Turkey, there were no legal regulations pertaining to forex transactions however in August of 2011, the Capital Markets Board (SPK) included foreign currency within the scope of legislation. "Following this development, the forex transaction volume by Turkish investors increased daily. By the end of 2012, we are expecting the daily forex transaction volume to surpass five billion dollars. When taking this trend and global market figures into consideration, we can comfortably say that Turkey's forex market will only continue to develop further."

COMPETITION TO INCREASE IN 2013

With the entry of new players in 2013, competition in forex transactions is expected to be on the rise states Pamir.

"It will not be surprising if the dollar/euro, dollar/ TL and gold/dollar parities spread at different parities and increased price competition," says Pamir also pointing out that they are anticipating transaction volume to reach seven to eight billion dollars daily in 2013.

We plan to increase paired exchange parity

İş Yatırım Securities Marketing Manager Can Pamir says that they are aiming to increase the exchange parity doubles on the 2013 TradeMaster FX platform. "We most recently added the Ruble and the Hungarian Forint to our transactions and we will be developing the parity scale even further."

Pamir went on to state: "This authority grants us the ability to establish a White Label Partnership with other institutions. Intermediary firms that want to provide their investors with online forex transactions and have fulfilled all designated conditions for Transaction Mediation can present TradeMaster FX under a brand or name they create themselves or as a ready package all within the framework of a White Label Partnership with İş Yatırım."

TradeMaster application enhanced

Pamir says that they missed out on acquiring an important element with the Trademaster presented in 2007, when it comes to the electronic transaction platform in both the domestic and foreign market. "With the Capital Market Board's inclusion of regulations on forex transactions, we developed our TradeMaster application in order to include forex transactions and presented it under the TradeMaster FX brand to our investors," explains Pamir.