|
The trading and
clearing hours are
as following:
|
Day T |
08:45-09:15 |
: |
Non-Trading Period |
|
|
09:15-17:35 |
: |
Normal Session |
|
|
17:45 |
: |
Announcement of
Settlement Prices and Margin Calls |
|
|
17:45 |
: |
Start of Clearing Period |
|
Day T+1 |
14:30 |
: |
End of Clearing Period (Cash Settlement) |
|
Day T+2 |
16:30 |
: |
End of Clearing Period (Physical Delivery) |
Time
slot between 8.45 a.m. and 9.15 a.m. is called “non-trading period”.
During the non-trading period the system will be running but won’t allow
order entries and executing trades.
A
single trading session called “normal session” shall be held between
9.15 a.m. and 5.35 p.m. In a normal session transactions are executed based
on the price and time priority rule and continuous auctioning.
Last 10
minutes of the normal session is called the “closing period”. Settlement
prices for the regular trading day shall be announced at 5.45 p.m. Margin calls shall be published in the Takasbank Derivatives System (TVİS) screen of the concerning members followed by the
announcement of the settlement prices.
“Clearing period” for obligations arising from cash settlement starts at
5:45 p.m. on the transaction day (T+0) and continues till 2:30 p.m. on
the following Exchange day (T+1). “Clearing period” for obligations
arising from physical delivery of physically delivered futures contracts
starts at 5:45 p.m. on the transaction day (T+0) and ends at 4:30 p.m.
on T+2 day. |