The Options Industry Council and Borsa Istanbul VIOP Sign Content Sharing Agreement
Chicago, IL — September 3, 2014
The Options Industry Council (OIC) announced today that it has entered into a content licensing agreement with Borsa Istanbul Derivatives Market (VIOP) to develop an options education program for Turkish financial professionals and investors.
As part of the content sharing agreement, OIC’s educational materials and curriculum will be available to Borsa Istanbul VIOP as they create an options education program with the goal of further increasing the financial literacy of Turkish investors by offering education on the responsible use of options as a risk-mitigating tool while conveying the benefits and risks of options trading.
OIC has been the premier, independent source of equity options education in the U.S. for more than 20 years. Internationally, OIC works with partners throughout North America, Europe and Asia to provide options education.
Borsa Istanbul Chairman and CEO Ibrahim M. Turhan said “At Borsa Istanbul, we have taken the important step of increasing financial literacy in the markets by signing a content licensing agreement with The Options Industry Council (OIC), a reputable industry group which aims to raise awareness about the responsible use of options among market participants.”
Mr. Turhan added, “As part of this agreement, investors in Turkey can learn from the OIC’s educational materials translated into Turkish with additional value provided by Borsa Istanbul’s experienced professionals. Additionally, these educational materials will also be beneficial in the education and protection of financial investors within the context of the Financial Stability Committee’s “Financial Access, Financial Education, Financial Consumer’s Protection Strategy and Action Plans.”
Mr. Turhan touched on the potential for significant expansion of the options industry in Turkey, adding that Borsa Istanbul will continue its efforts to raise awareness among investors and offer educational programs about derivative instruments, specifically on option contracts, which started trading in December 2012 in Turkey. He also noted that with the recent signing of the content licensing agreement with OIC, these endeavors will be expanded.
“Working with Borsa Istanbul is an honor as we continue OIC’s mission of educating investors around the world about the benefits and risks of exchange-listed options,” said Mary Savoie, Executive Director of OIC. “We applaud their focus on education.”
About Borsa Istanbul
Borsa Istanbul, through its subsidiaries (Takasbank – Istanbul Settlement and Custody Bank Inc. and MKK – the Central Securities Depository Agency), is the sole provider of trading, clearing, settlement, custody and registry services in Turkey for a wide range of products such as equities, debt securities, repo, sukuks, warrants, options, futures, certificates and ETFs.
Through a major reform program involving a complete overhaul of Capital Markets Law by December 2012, Borsa İstanbul successfully completed its de-mutualization, horizontal integration (merger with derivatives and precious metals exchanges), and vertical integration (majority shareholder status at Takasbank and MKK). The reform program has also been complemented with significant improvements in technological infrastructure, diversification of financial products, addition of new markets, and intensified international outreach.
The Options Industry Council (OIC) is an industry cooperative funded by the U.S. options exchanges and OCC. OIC’s mission is to provide free and unbiased education to investors and financial advisors about the benefits and risks of exchange-traded equity options. OIC delivers its education through the Options Education Program, a structured platform offering live seminars, self-directed online courses, mobile tools, podcasts, webinars and live help. OIC’s resources can be accessed online at OptionsEducation.org, via mobile app for iOS, or by phone at 1-888-OPTIONS.
Aysegul Noyan Altmisdort
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