Borsa Istanbul has gone live on Nasdaq’s platform (Nasdaq:NDAQ), granting the Turkish exchange access to Nasdaq’s trading and clearing, settlement, market data management, index calculation, market surveillance, business intelligence and risk management capabilities, according to a Nasdaq statement.

The primary focus of the new initiative is for Borsa Istanbul’s equity market, though the partnership will also utilize Nasdaq’s technology across its derivatives, debt securities, and precious metals markets. The decision to link up with Nasdaq is part of a broader focus by Borsa Istanbul, which has taken concrete steps to make its capital markets more competitive on the global state.

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Back in October, Borsa Istanbul also integrated MetaTrader 5 into its exchange, effectively providing its investors with the latest foreign exchange (FX) and VIOP capabilities in the Gulf Area. As for its partnership with Nasdaq, the access to the exchange is the accord between Borsa Istanbul and the exchange operator, following an initial agreement back in July 2013.

According to said Tuncay Dinç, Chief Executive Officer (CEO), Borsa Istanbul, in a recent statement on the partnership, “We are delighted to have established a high impact global partnership with Nasdaq, anchored by the objective of serving the financial community in the region and worldwide.”

“I am confident that our combined know-how, powered by one of the most advanced technology suites available in the world today, will consistently offer a cutting edge trading experience to customers worldwide with greater opportunity, innovation and flexibility. BISTECH transformation is a huge step for Borsa Istanbul on the path toward our vision of becoming a global player,” he noted.

“It has been an honor working with Borsa Istanbul as they emerge, unequivocally, as the capital markets heart of Eurasia. Their relentless dedication to achieving success in growing their business makes them a perfect partner for Nasdaq. We look forward to continuing our very successful relationship with Borsa Istanbul,” added Bob Greifeld, CEO, Nasdaq, in an accompanying statement.

Earlier this week, Nasdaq made headlines after it acquired Chi-X Canada, an Alternative Trading System (ATS) for the Toronto Stock Exchange (TSX) and TSX Venture Securities, from Chi-X Global. The newly approved acquisition was instrumental for Nasdaq, which gained direct access to the Canadian equities market. Despite the approval of the deal by regulatory authorities, the actual acquisition is slated to close in Q1 2016 however.