I naturally found it confusing when I was searching for the Irish Stock Exchange, and type in ISE Stock Exchange and found that there where many. One of which is the Istanbul Stock Exchange which also is known as the ISE.
To understand the relatively new nature of the ISE, one would simply go to their website, a new launch as of August 2009, www.ise.org, only to find that the exchange has been around since 1985.
ISE Listings Requirements:
“To be eligible for being traded on the ISE markets, the stocks which have been registered with the CMB and offered to public should be listed on or registered with the ISE.
ISE listing and registration allows stocks offered to public to be traded on the first and the only stock exchange of Turkey.
Trading on the stock exchange is the purchase and sale of stocks by investors on the secondary markets. Being traded on the stock exchange provides liquidity for company shares, and creates long-term and inexpensive financing opportunities for the companies. The listing of stocks on the stock exchange provides companies with creditworthiness, institutionalization, recognition, and improves integration of the company with national and international markets.
Listing (listing on the ISE) is the acceptance of registration with the respective market of the stocks which are requested to be continually traded on the securities exchanges provided that they meet the respective terms (listing criteria).
Initial listing is the first-time listing of a stock on the stock exchange. Additional listing means the listing of newly issued stocks due to capital increase of a company whose stocks have already been listed.
Stocks representing partnership rights, bills-bonds granting creditor rights and Other Capital Market Instruments which are considered as securities by CMB can be listed and traded on the ISE.” Source: http://www.ise.org/imkbweb/initialpublicoffering/Listing.aspx
The Istanbul Stock Exchange was established on December 26, 1985 for the purpose of ensuring that securities are traded in a secure and stable environment, and commenced to operate on January 3, 1986. The ISE has contributed to the development of Turkish capital markets and Turkish economy since the date of its establishment.
Established as per the Governmental Decree in Force of Law (KHK) No.91, the ISE is a public corporation operating as an autonomous and professional institution. The ISE is entitled to issue legal regulations related to the subjects and fields within the scope of its authority.
The General Assembly comprising of the ISE Members is the supreme decision making body. The Executive Council of the ISE comprises of the Chairman and four members. While the Chairman is appointed as per a tripartite decree, members of the Executive Council and auditors are elected by the General Assembly of ISE.
Hüseyin ERKAN was appointed Chairman&CEO of the ISE on November 2, 2007.
As interesting information is released on this exchange, I will be sure to post it.