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Turkish derivatives exchange to launch ‘sacrificial bourse’
1.       tunci
7149 posts
 28 Apr 2011 Thu 08:35 pm

Turkish derivatives exchange to launch ‘sacrificial bourse’

NURDAN BOZKURT

The new bourse will hopefully end sights such as this one, according to Çetin Ali Dönmez, head of the Turkish Derivatives Exchange. DHA photo

The new bourse will hopefully end sights such as this one, according to Çetin Ali Dönmez, head of the Turkish Derivatives Exchange. DHA photo

 

The Turkish Derivatives Exchange, known as TurkDex, has begun preparations to launch a “Feast of Sacrifice exchange” that would bring stability to sacrificial animal prices.

The bourse will hopefully be ready for the next Feast of Sacrifice, which starts Nov. 6, according to Çetin Ali Dönmez, the chief of TurkDex.

Speaking to the Hürriyet Daily News & Economic Review, Dönmez said the cattle market in the United States had an annual volume of $2.5 billion.

“Even if our market reaches one-20th of this size, it would be important,” he said. “At the moment, we need to promote it, rather than targeting a preset market size anyway.”

The bourse will also help eradicate crude street bazaars, in which buyers and sellers bargain for sacrificial animals, according to Dönmez.

“Transactions will be done on the exchange,” he said. The preparations also involve delivery points for animals.

Not many people see the animals before they buy them anymore,” Dönmez said. “So, I think this will work.”


 

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