The Turkish Brokers Association of Turkish Brokers (TSPAKB) now released its June Forex volume turnovers.
While May figures were reported at 126,869,583,940 TL which was a 77% increase from April’s number of 71,264,455,633 TL (in dollar terms, the volume represented 70 yards of trading vs 39.2 in April) the June figures were even higher at 196,623,480,495,63 TL. At exchange rate of 1,79 it amounts to 109 yards.
The growth is phenomenal but also tells us that the market plummeted after the regulation changes were announced and is now growing back up.
New entrants like IS Investments who today went live with Integral’s FX Grid will help drive volumes grow even further.