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:

  1. Acquiring the Purhase and Sale of Derivative Instruments License issued by the Capital Markets Board of Turkey
  2. Becoming an approved member of the Exchange
  3. Possesing required technical infrastructure and hardware to clear transactions
  4. Letter of Undertaking for TURKDEX Clearing Membership
  5. Paying the necessary amount of contribution for the Clearing Fund (Guarantee Fund)
  6. 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
  7. Presenting additonal documents and information that might be demanded by the Clearing House according to the Exchange Regulation