Global Menkul Değerler (GMD), a well-established and publicly traded Turkish brokerage firm with 35 years of experience providing brokerage services to individual and institutional investors, both domestic and international, in the capital markets, today announced a partnership with Alpaca, a global leader in brokerage infrastructure APIs providing access to multiple asset types, including stocks, ETFs, options, fixed income, and crypto. This collaboration will help empower GMD clients to easily diversify their portfolios with global assets, complementing their domestic holdings.
Brokers in Turkey have largely relied on legacy software and white-labelled platforms, leading to poor trading experiences, higher latency, and limited scalability.1 Additionally, the Turkish market has seen limited growth in foreign holdings of US equities, remaining at $1 billion from 2017 to 2024, according to a report from the Department of Treasury.2
However, as local investors feel the pressure of currency volatility, market uncertainty, and inflation3, the need for modern brokerage infrastructure and access to foreign equities has increased.4 GMD's new asset class, utilizing Alpaca's self-clearing broker-dealer operations, will offer access to US equities for as little as $1 via the Global On-Line platform. Through lower minimums and an improved user experience, GMD is helping create more wealth-building opportunities for their clients.
“The partnership with Alpaca is fundamental in changing the way our clients build their wealth,” says Gülşeyma Doğançay, Board Member and General Manager of GMD. “By integrating Alpaca's advanced technology, we're not only providing access to global markets but also helping our clients build more diversified portfolios. This collaboration positions Global Menkul Değerler at the forefront of financial innovation in Turkey.”
“We’re thrilled to partner with Global Menkul Değerler, a well-established brokerage with deep roots in Turkey’s capital markets, to make US equities more accessible for Turkish investors," said Yoshi Yokokawa, Co-founder and CEO of Alpaca. “As a global leader in brokerage infrastructure, Alpaca is proud to support both innovative fintechs and trusted financial institutions like GMD, whose commitment to innovation and client success makes them an ideal partner as we expand our footprint in this important market.”
Contact Alpaca
About Alpaca
Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure for stocks, ETFs, fixed income, 24/5, options trading, and offers crypto– raising over USD170 million in funding. Alpaca is backed by top-tier investors globally, including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Unbound, SBI Group, Derayah Financial, Elefund, and Y Combinator.
About Global Menkul Değerler
GMD is an independent brokerage firm offering brokerage services in capital market activities to domestic and international investors, both individual and institutional. It was established in 1990 and introduced to the public in Borsa Istanbul in 2011.
- “Global Securities Introduces a New Trading Solution to Outclass Competitors”, Devexperts
- “Foreign Portfolio Holdings of U.S. Securities”, Department of the Treasury, Federal Reserve Bank of New York, pg 60
- “The Impact of Exchange Rates on the Turkish Economy”, Research Institute of Economy, Trade, and Industry (RIETI)
- “Domestic Investors Turn Their Eyes to Foreign Equity Funds”, Bloomberg Businessweek, August 16, 2024
Alpaca Securities LLC is not affiliated with Global Menkul Değerler and neither is responsible for the liabilities of the other.
Please note that this article is for general informational purposes only and is believed to be accurate as of the posting date but may be subject to change.
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