Turkey’s plans to boost its local market infrastructure are moving forward. Most recently the Turkish exchange Borsa Istanbul signed a wide-ranging agreement with Nasdaq OMX aimed at overhauling its technology infrastructure. As part of the deal, Nasdaq OMX will take a 5% stake in Borsa Istanbul while giving the Turkish bourse access to its vast suite of trading technologies.

The move is expected to push the structure of Turkish financial markets closer to those in the European Union and the US, and attract foreign trading firms. It follows steps by the Turkish government to establish the country as a credible financial centre. But there's a long way to go: the country was politically unstable in 2013 and the total value of equities listed on Borsa Istanbul is worth around $232 billion - about the same as Nestle's market capitalisation.