Clearstream, via Turkiye Is Bankasi, will offer settlement and custody service for Turkish government bonds and treasury bills, making the securities settlement house the first ICSD to offer services in Turkish public debt securities and adding to its custody services for Turkish equities.
Starting April 3, 2006, Clearstream customers will be able to settle domestic free of payment and versus payment transactions in all types of Turkish government bonds and T-bills with counterparties of the Turkish CSD via Turkilye Is Bankasi, one of Turkeys leading banks.
Since the re-domination of the Turkish Lira in January 2005, volumes in Lira-denominated Eurobonds and international interest in Turkish public debt instruments have grown significantly. The total amount of domestic debt and foreign debt for Turkey is Euros 208 billion.
The addition of public debt securities demonstrates Clearstreams continuing commitment to the Turkish market and its commitment to extending its market and product reach in line with the expanding horizons of international dealers and investors, said Clearstreams CEO Jeffrey Tessler at a conference in Istanbul.