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How Turkey's "summer time" could affect markets?

Turkey decided to use "summer time" all year long. This creates concerns about the possible de-sychronization between Turkey and international markets

How Turkey's "summer time" could affect markets?
05 10 2016, 16:06

Starting from October 30, Turkey will stop turning back its clocks this winter, staying on summer time all year round to make better use of daylight.

The decision means Turkey will be three hours ahead of Greenwich Mean Time (GMT) in winter as well as summer and two hours ahead of continental Europe in winter.

This may create confusion for domestic and foreign traders in Turkey.

According to BusinessHT report, Borsa Istanbul applied a survey to its stock brokers to ask their demands about trading hours. Because using summer time all year around can cause sychronization problems and lower the trading value.

The results of the survey will be announced after Oct. 7.

Deutsche Securities Turkey General Manager Albert Krespin told BusinessHT that there are many international investors trading in Turkey and de-sychronization may cause delays such as ETF markets would close one hour late.


Business HT×