An announcement published on Borsa Istanbul's official website states the Money Market is set to open for the issuance of secured loan transactions under the scope of the Borsa Istanbul Stock Exchange.
This comes after a government directive to ensure the development of organized money markets within the framework of promoting institutional investors in the capital markets.
Transactions in the Borsa Istanbul Money Market will be conducted by lending and borrowing Turkish liras in cash, with competitive interest rates and terms, using a multiple price method.
Set to be operated through the Debt Securities Trading System, Borsa Istanbul Money Market will be effective as of Friday, Oct. 14, 2016. Takasbank is the central competitor in the market.