The exchange's average daily traded volume and open interest have both grown steadily since 2016. As of 2022, Turkey has the world's 11th largest economy, measured by purchasing power parity.
Phillip Nova's own existing trading volume for Istanbul is seen to increase by 38.5% this year over 2023, and the projected increase will be up 62.8% between 2019 and by end of this year.
Teyu Che Chern, CEO of Phillip Nova, says the TT platform has always been well received by his customers.
"Providing Borsa Istanbul's products through the TT platform is a key step to increase our global reach and to help our existing and potential investors access additional opportunities in the new region of Turkey, which aims to be a financial centre and regional hub for investment,” he adds.
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TT EVP Head of APAC Alice Pocklington is excited to deepen TT's longstanding relationship with Phillip Nova.
"We have seen growing interest in this market over the past few years and look forward to supporting its continued development, working with partners such as Phillip Nova, to support our mutual customers’ needs," she adds.
