Clearing Membership Requirements
In order to start to trade in Turkdex all Exchange Members need to become a Direct Clearing Member or have to clear their transactions through a General Clearing Member. For the time being, all Exchange Members are only authorized to become a DCM.
Applicants of the Clearing House (Takasbank) have to be a member of the Exchange.
Direct Clearing Membership requirements are as follows:
- Acquiring the Purhase and Sale of Derivative Instruments License issued by the Capital Markets Board of Turkey
- Becoming an approved member of the Exchange
- Possesing required technical infrastructure and hardware to clear transactions
- Letter of Undertaking for TURKDEX Clearing Membership
- Paying the necessary amount of contribution for the Clearing Fund (Guarantee Fund)
- Acceding additional regulations that may be brought out by the Clearing House , in the case of meeting any deficiency arising from a clearing member default not to deteriorate any customers or other third parties
- Presenting additonal documents and information that might be demanded by the Clearing House according to the Exchange Regulation