One of the leading platform technology developers in the industry, Devexperts, has passed the FIX certification of Borsa Istanbul. The leading Turkish stock market operator has granted dxTrade Advanced Level FIX certificates for both the equity and derivatives markets.
The move marks a successful milestone for the company as it prepares to expand in the region.
Commenting on the news, the CEO of Devexperts Turkey, Firat Gurler, said: “Since April 2014, Borsa Istanbul has been undergoing serious changes, preparing Turkey’s National Stock Exchange for the 2020s. At Devexperts, we have been playing our part since then, by introducing our advanced Fintech infrastructure to Turkey’s fast developing markets.”
“In addition to Devexperts’ high speed, ultra-efficient market data vendor business, we are expanding our presence as a trading technology provider in Turkey. I believe, launching dxTrade as the backbone for Turkish instruments is an essential phase in this process, and shall grow the Turkish brokerage business to its desired levels,” Mr Gurler said.
Turkish Capital Markets Access
dxTrade has been determined by the Borsa Istanbul as compliant with the requirements for executing advanced level and market making orders directly at the Borsa Istanbul Exchange.
The certification enables Devexperts to offer the solution to Turkish capital market participants. Potential customers for the company include large institutions like brokers and banks and medium-sized portfolio management firms. The platform is fully customizable for white-labeling, supporting a set of different asset classes like stocks, options, futures, commodities, and forex.
Notably, the Turkish forex market crumbled after a new law enacted last year mandated a 1:10 leverage restriction. The move came as a surprise to brokers that had been operating in the country, and has forced many firms out of the market.