(ECO) ISTANBUL AND ATHENS STOCK EXCHANGES LAUNCH JOINT INDEX (GT-30).ISTANBUL, Sep 29, 2009 (TUR) -- Istanbul Stock Exchange Istanbul Stock Exchange The sole securities exchange in Turkey. (IMKB) and Athens Exchange (ATHEX) launched Monday a joint index named GT-30, in order to issue a common exchange traded fund Exchange Traded Fund Similar to an index mutual fund, these tracking stocks trade continuously. Two popular ETFs are the Standard and Poor's depositary receipt (SPDR) launched in 1993 and the NASDAQ-100 Index Tracking Stock (QQQ) which was launched in 1999. (ETF ETF See Exchange Traded Fund. ETF See exchange-traded fund (ETF). ) that will be traded in both markets. IMKB which announced the launch of GT-30 index with a press release said the index would be calculated by STOXX Ltd. and will be carried to stock market data providers through CEF Feed (Deutsche Boerse System) in both TL and Euro values. The retrospective date for beginning of index calculations will be 31 December 2005 with base value of 1000 and the price index will be updated every 15 seconds. 15 companies and/or banks each --with high market values, and free float rates higher than 20 pc-- from IMKB and ATHEX will be included in the index. The companies and banks to be included in the index will be reviewed and revised every March and September. IMKB chairman Huseyin Erkan said the new index would boost interest in both stock markets while contributing to their visibility. Also commenting on the launch of the new index, ATHEX CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Spyros I. Capralos said he believed the joint index and the other instruments that would be launched and traded in both markets in connection with it would provide additional investment opportunities to investors. Following are the companies and banks to be included in the index in the first six months: IMKB: Akbank, Turkiye Garanti Bankasi, Turkcell Communication Services, Trkiye s Bankasi, Hac Omer Sabanc Group, Trkiye Halk Bankas, Koc Group, Anadolu Efes, Eregli Iron/Steel, TUPRAS, BM Birlesik Maazalar, Dogan Group, Arcelik, Coca Cola Beverages and Turkish Air Lines. Athex: National Bank of Greece The National Bank of Greece (NBG; Greek: Εθνική Τράπεζα της Ελλάδος , Coca Cola HBC HBC a definition for medical records to denote 'hit by car'. , OPAP, EFG Eurobank Ergasias OTE, Alpha Bank, Public Power Corporation, Piraeus Bank, Hellenic Petroleum, Marfin Investment Group Marfin Investment Group was created in 1998 as Marfin Α.Ε.Π.Ε.Υ.. It has taken over several companies and has changed name several times since. In 2001 it took over Pireus Prime Bank and was renamed Marfin Bank. , Titan Cement Company, Alapis, Motor Oil (Hellas), Ellaktor ve Jumbo. (THROUGH ASIA PULSE) |
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