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Turkish Stock Mart Reopens After 60 Years

December 27, 1985|From Reuters

ISTANBUL — Turkey's first stock exchange in more than 60 years was opened here Thursday by Deputy Prime Minister Kaya Erdem.

A stock exchange was first established in Istanbul in the late 19th Century, but with the dissolution of the Ottoman empire, it was reduced to a set of brokers' offices.

Born out of a financial scandal in 1982, the new trading floor for securities is part of a scheme drawn up by the government to regulate capital markets.

It occupies a restored 19th-Century savings institution. Twenty-five banks, nine brokerage houses and two individual brokers are licensed to operate.

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