FTSE Russell Announcement on Turkey's Market Status
Global index provider FTSE Russell made no changes to Turkey's current market classification and did not add the country to its watch list.
International index provider FTSE Russell announced that Turkey's Advanced Emerging Market status has been maintained and the country has not been placed on the watch list.
Status Maintained
FTSE Russell announced that Turkey's status remained unchanged in its annual country equity classification review. The statement noted that the country continues to remain in the Advanced Emerging Market category and was not included in the watch list.
Inter-Institutional Dialogue
The index provider stated that contacts with market authorities in Turkey are ongoing regarding concerns over the quality of free float data. It was stated that discussions with Borsa İstanbul and the Capital Markets Board are continuing.
Transparency and Data Details
The feasibility of improving the level of detail of the data forming the basis of free float rates published by the Central Registry Agency is being evaluated. Within this scope, evaluation processes and dialogues among relevant institutions are actively continuing.
Developments in the Markets
This statement came after warnings from global index providers regarding transparency, free float rates, and accessibility. In its semi-annual review in September, FTSE Russell had made adjustments by removing certain Turkish companies from its indices.