On today's press conference organized by the Sarajevo Stock Exchange details of the recent start of trading with futures based on the index SASX-10 on Borsa Istanbul were presented.

- Project of trading futures based on the index SASX-10 on Istanbul Stock Exchange is just the first in a series of of projects which are the result of the intensive cooperation between the two partner Exchanges, said dr Tarik Kurbegović, director of Sarajevo Stock Exchange at the beginning of press conference. He emphasized that, according to available information, there already was some trading conducted with this instrument on the Istanbul Stock Exchange last week. He also pointed out that one of the future projects will be a so called order-routing system.

- After the futures-project, for the next year we are planning to setup an „order routing system“ which will allow investors from Istanbul Stock Exchange to directly trade securities listed on the Sarajevo Stock Exchange, and vice versa, emphasized dr Tarik Kurbegović.

Ibrahim Turhan, Chairman and CEO Borsa Istanbul said that Istanbul Stock Exchange consider this partnership strategic and long-term.

- Our partnership is important for both sides and it will be long-term partnership as well partnership of Bosnia and Herzegovina and Turkey. I have to say that we had, in the morning, just before this press conference one meeting where we concluded new steps and projects, about you will be notified soon, said Turhan, citing statistics that classify Istanbul Stock Exchange among one of greatest in world, and in regional area surely.

- Daily turnover on Istanbul Stock Exchange is about 15 billion USD. For local markets is of great importance be available on so large financial markets and with international investors.

Almir Mirica, executive director of Sarajevo Stock Exchange shortly explained what are exactly futures and what kind of financial instrument they are:

- Futures is type of derivative financial instrument. Basically, it is a contract between two transaction parties about trading in a specific asset, which can be a commodity or a financial instrument. When we talk about an index future, that is a contract made between two parties to exchange cash compensation payments based on the movements in the level of an equity index. The first equity index was introduced in 1982, and today, the estimated yearly nominal turnover with this kind of instruments amounts to more than 130 trillion USD. The basic function of an index future is generating profit or hedging other kinds of investments - explained Mirica and reminded that SASX-10 is an index following the share price movement of top 10 companies on domestic capital market, measured by market capitalization.

During the press conference, representatives of the two stock exchanges exchanged gifts.

Zijad Blekić, Supervisory Board president of Sarajevo Stock delivered a gift to Ibrahim Turhan:

- I have to say that is my honor and pleasure to welcome our guests in name of the Sarajevo Stock Exchange. We consider this cooperation very important for future development of Bosnia and Herzegovina capital market, and this project is an important step forward in that process. We hope that this is one in a row of joint projects through which we will broaden our successful cooperation. By this opportunity I want to emphasize that we really appreciate the support from Istanbul Stock Exchange, especially because Borsa Istanbul is one of greatest and most developed markets in the world, said Zijad Blekić.