The CEO of Borsa Istanbul, Korkmaz Ergün, has been elected to the board of the prestigious World Federation of Exchanges (WFE), the Turkish stock exchange announced Friday.

"As a member of the WFE since 1992, Borsa Istanbul has made great strides in strengthening its international visibility while having a say in the management of the Federation, with the election of CEO Korkmaz Ergün as a member of the Board of Directors at the General Assembly" this Thursday, said a Borsa Istanbul statement.

Other board members are exchanges from the U.S. (Nasdaq, Chicago Commodity Exchange, Chicago Options Exchange), Singapore, Switzerland, Brazil, Bermuda, Hong Kong, India, Nigeria, Saudi Arabia, Colombia, South Korea, Japan, Germany, South Africa, and China.

"We will strengthen our communication channels with international investors through new initiatives," Ergün said, commenting on the election.

He stressed that Turkey’s stock exchange aims to provide international investors with accurate information, showing that they can get support from Borsa Istanbul whenever they need it, and to engage in constructive long-term dialogue to solve issues and encourage further investments.

"Our membership on the Board of the World Federation of Exchanges, along with seventeen leading exchanges from all continents, will serve as a bridge to contribute towards the solution of the global problems of the industry, connect with international counterparts, and promote our international visibility," he added.

The WFE, the leading global industry group for exchanges and clearing houses (CCPs) around the world, represents over 250 market infrastructures.

Founded in 1961 and operating in London, the Federation aims to contribute to the promotion of fair and transparent organized markets and building trust in capital markets to reinforce systemic stability in line with the needs of the capital market stakeholders and the interests of their related institutions by cooperating with regulatory institutions.