Guarantee Fund

Guarantee Fund has been established by TurkDex with the clearing members’ contributions and is managed by Takasbank. This fund is used in case of member defaults. In any default, the defaulting member’s contribution is used first and if necessary then non defaulting members’ contributions are used on a pro rata basis.

Clearing members must contribute to Guarantee Fund with cash and non cash collaterals. Fixed amount of the contribution is determined by the membership type, while variable amount is calculated due to the TRY value of the open positions of the member.