The contribution of the futures trading on the underlying stock in Turkish derivatives exchange to the efficiency of cash market: An application on ISE 30 index

Derivatives markets are generally used for hedging and they aim to contribute on the efficiency of spot markets in positive meaning.Derivatives and their markets, functions and jeopardies are explanied in the first part of this study. In addition to these the meaningful knowledge about the Turkish Derivatives Exchange Market is presented in the same part with its explanations.In the second part of this work; the definition of ?market? and its varieties introduced in details ; after that the efficient market hypothesis and types of efficiencies take part with their own knowledge backrounds.The question about the existence of reosanable relationship between ISE 30 Index and Turkish Derivatives Exchange Market 30 Index is answered in the thirth part. Many double checked analysis and their results about the meaningful serials added for the final department of this work too.Keywords: Derivatives Markets, Derivatives, Efficiency of the Market