Merrill Lynch rejects claims of 8 billion-lira short-sale gains
The bank says the trades before Sept. 16 involved international institutional clients and produced profits in the millions, not billions.
Key takeaways
- Merrill Lynch rejected claims of 8 billion lira in short-sale profits.
- The bank said the trades involved international institutional clients, not Turkish individual customers.
Merrill Lynch rejected claims that it made 8 billion lira from short sales before Sept. 16, saying profits from the trades were in the millions. The bank said the transactions were carried out for international institutional clients, not Turkish individual customers.
In a statement, Merrill Lynch International said reports about its Borsa Istanbul trades did not reflect the facts. It also said it took care to comply with Capital Markets Board rules and other applicable regulations.
The Capital Markets Board had previously said claims that foreign financial firms made excessive gains and fully exited positions were unfounded.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
