Istanbul Exchange to Remain Open, Disinformation Center Rejects Closure Claims

Turkish authorities have firmly rejected social media claims suggesting that Borsa Istanbul, the country’s main stock exchange, would halt trading operations on Monday amid heightened regional tensions following U.S.-Israel strikes on Iran.

The Directorate of Communications Disinformation Combat Center (DMM) issued a definitive statement on March 1, declaring that no decision to suspend trading had been taken or was under consideration by any relevant financial institutions. The DMM characterized these rumors as deliberate attempts to create market panic and undermine confidence in Turkey’s financial system.

“Claims suggesting that the closure of Borsa Istanbul on Monday is under consideration or that a decision in this regard will be taken are unfounded,” the DMM stated through its official communication channels. The agency emphasized that legal action has been initiated against those responsible for spreading what it described as “baseless posts aimed at harming economic stability.”

Financial markets in Turkey have already shown some volatility in recent days, with the benchmark BIST 100 index experiencing a 2.7% decline last week. The index opened at 14,092.16 points and closed Friday at 13,717.81 points, reflecting investor nervousness about regional developments.

The current situation carries echoes of previous market disruptions in Turkey’s financial history. The most recent trading suspension at Borsa Istanbul occurred in February 2023, when the exchange halted operations for five business days following the devastating Kahramanmaras earthquakes that struck southeastern Turkey. That natural disaster, which claimed over 50,000 lives, prompted authorities to temporarily freeze trading to prevent market panic and allow for emergency response coordination.

Market analysts suggest the current rumors may be exploiting memories of that previous closure, combining them with genuine concerns about Middle East tensions to create a persuasive but false narrative about potential market intervention.

The DMM’s swift response to counter these rumors reflects the Turkish government’s growing focus on combating financial disinformation. The center has become increasingly active in monitoring and responding to information that could potentially destabilize markets or create economic uncertainty.

Turkey’s financial regulators have been particularly vigilant in recent months, as the country continues to navigate economic challenges including inflation pressures and currency fluctuations. Borsa Istanbul, which serves as the sole exchange entity in Turkey combining the former Istanbul Stock Exchange, Istanbul Gold Exchange, and the Turkish Derivatives Exchange, plays a critical role in the country’s financial infrastructure.

Financial experts note that unfounded rumors about market closures can themselves trigger market instability, creating a self-fulfilling prophecy effect if enough investors react to the disinformation. This dynamic explains why authorities have responded with such urgency to quash the rumors before Monday’s trading session.

The DMM has urged the public to rely only on official statements regarding financial markets and to exercise caution when encountering unverified claims on social media. The directorate emphasized that official channels would communicate any genuine changes to market operations well in advance through established protocols.

As regional tensions continue to evolve following recent military actions in the Middle East, Turkish financial authorities have indicated they are closely monitoring market conditions while maintaining normal operations. Analysts expect heightened market surveillance in the coming days to ensure orderly trading and to quickly address any unusual activity.