Liquidnet adds Turkish equities to trading platform
Liquidnet, the global institutional trading network, has added Turkish-listed securities to its platform. Institutional investors may now trade Turkish equities through its network, which has appointed a local broker on the Istanbul Stock Exchange for the task.
Per Lovén, head of corporate strategy for Liquidnet Europe, said: “The Turkish economy has shown strong signs of growth despite global macro volatility, capturing the interest of portfolio managers globally.” Turkey is the 15th largest economy in the world and the seventh in Europe.
There are more than 1,000 companies traded on the Istanbul Stock Exchange with a total domestic market cap of TRY472.6bn (€215.3bn). In June, Moody’s Investors Service upgraded Turkey’s credit rating to one step below investment grade, in recognition of improving fiscal conditions in the country.
Liquidnet, launched by Seth Merrin (pictured) in 2001, covers 40 equity markets across five continents for asset managers collectively managing $12.4trn. Most recently, the network introduced equities trading in Indonesia and Malaysia.