New notification and block requirements for repo and reverse repo transactions
With the Capital Markets Board decision published in the Official Gazette, new conditions have been introduced for transactions in the Borsa Repo and Reverse Repo Market that do not receive central clearing services.
The new regulation prepared by the Capital Markets Board has entered into force after being published in the Official Gazette. Within the scope of the arrangement, notification and blocking obligations were introduced for transactions in the Borsa Repo and Reverse Repo Market that do not receive central clearing services.
Decision Published in the Official Gazette
The Regulation on Amending the Principles Regarding Borsa İstanbul Inc. Broking Activities, prepared by the Capital Markets Board, has been published in the Official Gazette.
With this newly published regulation, significant changes have been made to the rules governing the operation of repo and reverse repo transactions.
Transactions Without Central Clearing Services
The newly introduced rules specifically cover transactions in the Borsa Repo and Reverse Repo Market that do not receive central clearing services.
New notification and blocking obligations that parties must comply with in such transactions have officially started to be implemented.
Blocking and Notification Processes
It has become mandatory to report the securities involved in the transactions until the time determined by Takasbank.
In addition, the timely blocking of the securities in the relevant account on behalf of the fund is among the required conditions.
Non-Compliance with the Rules
In the event that the notification is not made and the blocking process is not carried out within the specified period, the relevant transactions will be considered invalid.
Within the framework of the notification to be made by Takasbank, these invalid transactions will be directly cancelled by the Exchange.