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Turkey agrees deal with Euroclear to open up bond market to intl investors

Turkey agrees deal with Euroclear to open up bond market to intl investors Photo: www.fmf.gov.ba

ANKARA (Turkey), June 10 (SeeNews) - Turkey's ministry of finance has reached a deal with Belgium-based securities transactions settlement bank Euroclear that will facilitate international investment into the Turkish bond market, Euroclear said. 

The imminent launch of a Euroclearable link will enable foreign investors greater access to the Turkish government bond market, Euroclear said in a statement on Tuesday.

Achieving Euroclearability helps to facilitate access of foreign investors into the domestic market in a more secure and standardised way. Local issuers can access wider liquidity pools and reduce the overall volatility of borrowing costs, according to the statement.

"By making our TL, USD, EUR and gold denominated domestic borrowings entirely ‘Euroclearable’ we have further aligned our capital market framework with the globally recognised standards," Berat Albayrak, Turkey's minister of treasury and finance said.

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