Borsa Istanbul will remove two zeros from its indices on April 27, it said on Feb. 19.
“Considering the current levels of BIST Stock Indices, especially BIST 30 and BIST 100, it has been decided to divide TL based Price and Return stock indices by 100,” according to a statement.
The stock exchange will test this move in several phases.
“Planned go live date is April 27, 2020 and the index values will continue to be shown in two decimal places. Contract sizes will be decreased to 10 from 100. Price ticks for futures will be increased to 0.25 from 0.025,” it noted.
The index is currently at around 120,000.