Turkish Product Exchange Trading and Collateral Procedures Revised

With the regulation prepared by the Ministry of Trade, amendments were made to the establishment, activities, operations, and auditing procedures of the Turkish Product Exchange, expanding the trading range and introducing new collateral mechanisms.

New Regulation Published in the Official Gazette

The Regulation on Amending the Regulation on the Establishment, Activities, Operations, and Auditing Procedures and Principles of the Product Exchange, prepared by the Ministry of Trade, has been published in the Official Gazette and entered into force. Within this scope, critical changes were made to the operational procedures of the Turkish Product Exchange.

Expanded Trading Range

With the new regulation, the range of products to be traded on the exchange has been expanded, and in addition to electronic product receipts and futures contracts based on them, direct products and other contracts deemed appropriate by the ministry have been included in the scope.

Scope of Futures Contracts

The scope of the futures contract has been revised and defined as a contract that obligates the purchase or sale of a product, electronic product receipt, index, and similar underlying assets at a predetermined maturity at a pre-determined price, quantity, and quality.

Collateral and Payment Procedures

Procedures regarding payment, delivery, and default in electronic product receipts and futures contracts will be regulated by Exchange guidelines, and new collateral mechanisms have been implemented to increase the security of transactions.