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Athens News Agency: News in English, 09-09-28
CONTENTS
[01] Common Gr-Tr bourse index
[01] Common Gr-Tr bourse index
The Greek and Turkish stock markets on Monday officially launched a
common market index in cooperation with STOXX Ltd., an international
stock market index company.
The "Greece-Turkey 30" (GT-30) index is the result of cooperation
between the two markets and will become an additional investment tool
for both private and institutional portfolios wishing to invest in the
largest companies listed on the Athens and Istanbul markets.
A priority of the two stock exchanges is the issuing and listing of
negotiable mutual funds and derivative products linked with the new
index. Spyros Kapralos, president of the Athens Stock Exchange,
speaking to CNBC-E television network noted that "we are very happy
that our cooperation is sealed today with the issuing of a common index
including the top 15 shares from each market". Huseyin Erkan,
president and chief executive of the Istanbul Stock Exchange said, on
his part: "The GT-30 index will definitely add more to the two markets'
image, particularly during an era of world markets recovering from a
financial crisis last year."
The index will include the top 15 shares from each market, based on
capitalization, with the number of bank shares limited to four from
each market. The GT-30 index will be reviewed twice every year (March
and September) over its composition and four times each year (March,
June, September, December) over the maximum allowed participation rate
of each share.
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