BIST VIOP Most Change O_ISCTRE1217C4.75 % -100,00 O_ISCTRE1217C4.75 % -100,00 O_ISCTRE1217C4.75 % -100,00 O_ISCTRE1217C4.75 % -100,00 O_ISCTRE1217C4.75 % -100,00 Highest Open Position O_ISCTRE1217C4.75 00

FINAL SETTLEMENT PRICES


Security Type Final Settlement Price Calculation Method
Equity&Equity Index Futures and Options Contracts
BIST 30 Index Futures The final settlement price of BIST 30 futures contracts shall be calculated by weighting of the time weighted average of index values of the last 30 minutes of continuous auction in the equity market and closing price of the index with 80% and 20%, respectively. The calculated weighted average is divided by 1000, rounded to the nearest price tick, and called as the final settlement price.

If the final settlement price cannot be calculated due to public market holiday or any other reason the Settlement Price Committee will determine the final settlement price on the expiry day.
BIST 30 Index Options
Mini BIST 30 Index Options

For call options, the final settlement price shall be calculated by weighting of the time weighted average of index values of the last 30 minutes of continuous auction in the equity market and closing price of the index with 80% and 20%, respectively. The difference between the calculated weighted average price (divided by 1000) and strike price is rounded to the nearest price tick and called as the final settlement price.

For put options, the final settlement price shall be calculated by weighting of the time weighted average of index values of the last 30 minutes of continuous auction in the equity market and closing price of the index with 80% and 20%, respectively.  The difference between strike price and the weighted average price (divided by 1000) is rounded to the nearest price tick and called as the final settlement price.

If the final settlement price cannot be calculated due to public market holiday or any other reason the Settlement Price Committee will determine the final settlement price on the expiry day.
Single Stock Futures The final settlement price of single stock futures contracts shall be the closing price of the spot market session on the last trading day.

If the final settlement price cannot be calculated due to public market holiday or any other reason the Settlement Price Committee will determine the final settlement price on the expiry day.
Currency Futures Contracts
USDTRY Futures

The average of US Dollar selling and buying rate announced by the CBRT at 15:30 of the last trading day.

The Last Settlement Price shall be rounded to the nearest tick.

EURTRY Futures

The average of Euro selling and buying rate announced by the CBRT at 15:30 of the last trading day.

The Last Settlement Price shall be rounded to the nearest tick.

EUR/USD Currency Futures CBRT EUR/USD Cross Rate of the last trading day.

The Last Settlement Price shall be rounded to the nearest tick.
RUB/TRY Futures The average of RUB selling and buying rate announced by the Central Bank of the Republic of Turkey at 15:30 of the last trading day. The Last Settlement Price shall be rounded to the nearest tick.
CNH/TRY Futures The CNH/TRY rate calculated with exchange rate of USD/CNY (HK) announced by the Hong Kong Treasury Markets Association and average of USD/TRY selling and buying rates announced by the Central Bank of the Republic of Turkey at 15:30 of the last trading day. The Last Settlement Price shall be rounded to the nearest tick. If the final settlement price cannot be calculated due to public market holiday or any other reason the Settlement Price Committee will determine the final settlement price on the expiry day.
Currency Options Contracts
USDTRY Options

For call options, final settlement price is calculated as the difference between the value of multiplying the average of US Dollar selling and buying rate announced by the Central Bank of the Republic of Turkey at 15:30 of the last trading day by 1,000 and the option contract’s strike price. The final value is rounded to the nearest price tick.

For put options, final settlement price is calculated as the difference between the option contract’s strike price and the value of multiplying the average of US Dollar selling and buying rate announced by the Central Bank of the Republic of Turkey at 15:30 of the last trading day by 1,000. The final value is rounded to the nearest price tick.

If the related selling rate is not announced by CBRT on the last trading day, the final settlement price shall be determined by the Settlement Price Committee.”
Gold Futures Contracts
Gold Futures

LBMA Gold Price P.M. (released by ICE Benchmark Administration in the afternoon), shall be converted to TRY/gram price and called as the final settlement price. In calculations, the average of US Dollar selling and buying rate announced by the Central Bank of the Republic of Turkey at 15:30 (for USDTRY conversion) and 31.1035 (for ounce/gram conversion) shall be used as the conversion factors. If the afternoon fixing price is not released, the gold fixing price (USD/ounce) released in the morning (A.M. price) shall be used as the final settlement price.  If the fixing prices are not released due to official holidays or another reason, the average of bid and ask gold prices (USD/ounce) announced on the international spot market at 17:00 (Istanbul time) shall be used.

The final settlement price determined with the above-mentioned methods shall be rounded to nearest price tick.

USD/Ounce Gold Futures LBMA Gold Price P.M. (released by ICE Benchmark Administration in the afternoon), shall be used as the final settlement price. If the afternoon fixing price is not released, the gold fixing price released (USD/ounce) in the morning (A.M. price) shall be used as the final settlement price.

If the fixing prices are not released due to official holidays or another reason, the average of bid and ask gold prices (USD/ounce) announced on the international spot market at 17:00 (Istanbul time) shall be used.

The final settlement price determined with the above-mentioned methods shall be rounded to nearest price tick.
Energy Future Contracts
Base-Load Electricity Futures The Last Settlement Price shall be the basic arithmetic average of the Unconstrained Market Clearing Prices announced by Turkish Electricity Transmission Company for each hour of the contract month. 

The final settlement price determined with the above-mentioned methods shall be rounded to nearest price tick.
Foreign Indices Future Contracts
SASX 10 Index Futures The final settlement price of SASX 10 futures contracts shall be the closing price of the related index. The Last Settlement Price shall be rounded to the nearest tick. If the final settlement price cannot be calculated due to public market holiday or any other reason the Settlement Price Committee will determine the final settlement price on the expiry day.
Commodity Futures Contracts
Anatolian Red Wheat Futures

The Last Settlement Price shall be calculated as follows:
The volume weighted average of the prices of the second degree Anatolian Hard Red wheat prices formed at Konya Commodity Exchange in the last trading day is to be calculated. This price shall be considered as the last settlement price.
If no price is formed at the Konya Commodity Exchange in the last trading day for the second degree Anatolian Hard Red wheat;
  • Bid and offer prices available on the market for the second degree Anatolian Hard Red wheat,
  • The prices of the first and/or the third degree Anatolian Hard Red wheat,
  • Volume weighted average of the second degree Anatolian Hard Red wheat prices for the day before the last trading day,
the methods mentioned above are used alone or together in order to determine the final settlement price by the Settlement Price Committee.
The Settlement Price Committee may increase or cut the number of days on which price information is obtained from the Konya Commodity Exchange, may consider the prices of the second degree Anatolian Hard Red wheat formed at other grain exchanges for calculating the Last Settlement Price.

The final settlement price determined with the above-mentioned methods shall be rounded to nearest price tick.
Durum Wheat Futures

The Last Settlement Price shall be calculated as follows:
The volume weighted average of prices for Standard 3 durum wheat formed at Konya Commodity Exchange in the last trading day is to be calculated. This price shall be considered as The Last Settlement Price.
If no price is formed at the Konya Commodity Exchange in the last trading day for the third degree durum wheat;
  • Bid and offer prices available on the market for the third degree durum wheat,
  • Prices of the first and/or the second degree durum wheat,
  • Volume weighted average of the third degree durum wheat prices for the day before the last trading day,
the methods mentioned above are used alone or together in order to determine the final settlement price by the Settlement Price Committee.
The Settlement Price Committee may increase or cut the number of days on which price information is obtained from the Konya Commodity Exchange, may consider the prices of the third degree durum wheat formed at other grain exchanges for calculating the Last Settlement Price.

The final settlement price determined with the above-mentioned methods shall be rounded to nearest price tick.
Aegean Cotton Futures

The Last Settlement Price shall be calculated as follows:

 

Arithmetic average of closing prices which are defined as minimum price of Aegean Color 41 Cotton announced by İzmir Commodity Exchange at the last trading day and one business day prior to the last trading day will be considered as the last settlement price. In case there is not the related price on one  of these days, price of the other day is determined as the final settlement price.

 

If the final settlement price for  Aegean Color 41 Cotton  cannot be calculated with the above methods, at the İzmir Commodity Exchange;

 

  • Closing price defined as maximum for Aegean Color 41 Cotton at the last trading day,

 

  • The closing prices of the Aegean Color 31 and/or 51 Cotton,

 

  • Closing price defined as maximum for Aegean Color 41 Cotton announced at the one business day before last trading day.

 

The methods mentioned above are used alone or together in order to determine the final settlement price by the Settlement Price Committee.

 

The Settlement Price Committee may increase or cut the number of days on which price information is obtained from the İzmir Commodity Exchange, may consider the prices of the Aegean Color 41 Cotton formed at other exchanges for calculating the Last Settlement Price.

 

The final settlement price determined with the abovementioned methods shall be rounded to nearest price tick. 
Metal Futures
Steel Scrap Futures

The Last Settlement Price shall be the basic arithmetic average of the daily prices announced by index provider for the contract month.
If the final settlement price cannot be calculated because of insufficient data or the prices calculated do not reflect the market correctly, the final settlement price may be determined by using one or more of the following methods.
a) The average of the best buy and sell quotations at the end of the session,
b) Theoretical prices are calculated considering similar contracts traded at foreign markets, price of the underlying on the cash market or the daily settlement price for other contract months of the contract.

The Last Settlement Price shall be rounded to the nearest tick.

ETF Futures
FBIST ETF Futures

Indicative value of the one ETF share announced at 14:00 of the last trading day.

Overnight Repo Rate Futures
Monthly and Quarterly Overnight Repo Rate Futures

The final settlement price is calculated as follows;

N : The number of calendar days in a contract month
N0 : The number of business days in the calculation period.
ni : The number of calendar days in the relevant calculation period on which the rate is ri
ri : The weighted average repo rate at Interbank Repo Reverse Repo Market for i day

If no trade is realized and / or overnight weighted average interest rate cannot be determined on trading days at Borsa İstanbul Interbank Repo Reverse Repo Market, same value dated overnight weighted average interest rate belongs to previous business day can be used.

 

If the last settlement price cannot be determined by methods above mentioned or the last settlement price determined by methods above mentioned is not able to reflect the market correctly, the Settlement Price Committee will determine the final settlement price on the expiry day.


Final Settlement Price Calculation Methods above mentioned are prepared briefly for information purposes only. For detailed information relating to Final Settlement Price Calculation, please click here (Circular on VIOP Market Operations).

RUB/TRY Futures


RUB/TRY Futures


RUB/TRY Futures