Korea Exchange Signs MOU to Strengthen Derivatives Market Cooperation with Istanbul Exchange

Jung Eun-bo, Chairman of the Korea Exchange, signed a Memorandum of Understanding (MOU) with the Borsa Istanbul (BIST) on the 20th (local time) to strengthen cooperation in the derivatives market, the Korea Exchange announced on the 21st.

This MOU expands the existing agreement between the two exchanges established in 2010 by including the derivatives market (including the general commodities market), thereby enhancing a comprehensive cooperation framework. They plan to continue collaboration in areas such as joint development of new products and business, and improvement of IT infrastructure.

Corkmaz Ergun, CEO of Istanbul Stock Exchange, and Jung Eun-bo, Chairman of Korea Exchange, are taking a commemorative photo after signing a memorandum of understanding on the 20th. Photo by Korea Exchange

BIST operates the most liquid derivatives market in the Middle East region and has a market structure similar to that of the Korea Exchange, so it is expected that there will be significant synergy effects through the discovery of new cooperative projects.

At the MOU signing ceremony in Turkey, Chairman Jung Eun-bo stated, "Through this MOU, the partnership between KRX and BIST, two key exchanges in Asia and the Middle East, will be strengthened, and we especially expect expanded business opportunities in the derivatives markets where both exchanges have strengths."

Ergun Korkmaz, CEO of BIST, also responded, "We are pleased to sign the MOU to solidify the cooperation framework between BIST and KRX," adding, "We hope that through strengthened collaboration in the high-growth potential derivatives market, both institutions will mutually develop."