The ISE Chairman & CEO Mr. Huseyin Erkan and the ATHEX Chairman Mr. Spyros Capralos officially launched the GT-30 Index.
A ceremony for the official launch of the Greece-Turkey 30 Index (GT-30) took place today at the Istanbul Stock Exchange (ISE) with the presence of ISE Chairman & CEO, Mr. Hüseyin Erkan and Athens Exchange (ATHEX) Chairman, Mr. Spyros Capralos. The Chairman of the Capital Markets Board of Turkey, Professor Vedat Akgiray, the STOXX Ltd Director of Business Development, Mrs. Rosa Anna Grimaldi and the General Manager of ISE Settlement and Custody Bank, Mr. Emin Catana also made presentations during the event.
At the event Mr. Achilleas Kontogouris, CEO of NBG Asset Management and Mr. C. Özgür Güneri, CEO of Finans Asset Management, described during their presentations the advantages of the new ETFs on the GT-30 index, which the two institutions are going to issue early next year.
Mr. Hüseyin Erkan pointed out during his speech: “The Athens and Istanbul Stock Exchanges have a long history of close cooperation starting with the South East European Cooperative Initiative (SECI). And today, we are harvesting the fruits of a long term work and cooperation with the Athens Exchange by the GT-30 Index. This index will surely add more visibility to the Greek and Turkish stock markets. Launched at a time when the world markets are gradually recovering from the financial turmoil, we expect the GT-30 Index to draw more attention to both exchanges and to offer an additional investment tool for both individual and institutional investors to gain exposure to the upper and most liquid tier of the Greek and Turkish stock markets at lower costs. I am also happy to announce that we have already received two applications for ETFs based on the GT-30 and I am confident that more will follow.”
For his part, Mr. Spyros Capralos said: “With this new joint index, as well as the products that will be issued on it, we are providing additional choices, new opportunities and alternative options to the investors of the two markets. Furthermore, taking into consideration that the only direction we can follow, towards stronger and larger markets, is the facilitation of the cross border access for investors as well as the improvement of efficiency and reduction of costs, we have a strong faith that the GT30 as well as the ETF created on it, will be helping both Exchanges down that path.”
The event, which was hosted by the Istanbul Stock Exchange, brought together member brokerage houses and banks, portfolio managers as well as representatives of the Greek and Turkish companies included in the GT-30.
About the GT-30 Index
The Greece & Turkey 30 Index (GT-30), a STOXX Customized index launched on 28 September 2009 comprising of 30 companies, 15 from each market with the largest market capitalisation among the companies listed in the two exchanges is the first concrete act of the long term collaboration between the two markets.
STOXX calculates the GT-30 Index as price and return indices denominated in TRY and EUR terms. The base date of the Indices is December 31st, 2005, and the base value is 1,000.