BIST Increasing ISBTR.E 3881.6 20.00 % MSGYO.E 2.4 15.94 % VAKKO.E 3.58 11.88 % ADESE.E 8.01 11.72 % CLEBI.E 63.65 11.67 % Decreasing KLNMA.E 22.58 -10.40 % KPHOL.E 1.55 -8.28 % RALYH.E 1.6 -5.33 % KERVN.E 0.43 -4.44 % VERTU.E 3.21 -4.18 % VIOP Most Change O_XU030ME1018P130.000 % -100,00 O_XU030ME1018P130.000 % -100,00 O_XU030ME1018P130.000 % -100,00 O_XU030ME1018P130.000 % -100,00 O_XU030ME1018P130.000 % -100,00 Highest Open Position F_USDTRY1018 554.705 F_USDTRY1218 490.220 F_XU0301018 436.431 F_XAUTRYM1018 191.237 F_YKBNK1018 111.200

MONTHLY OVERNIGHT REPO RATE FUTURES


Underlying


The monthly compounding average of weighted average overnight repo rate with same value date at Borsa Istanbul Interbank Repo Reverse Repo Market.

Contract Size

Nominal Value = TRY 1.000.000
Contract Size =1.000.000 x (N / 365) x 0,01
N: The number of calendar days in a contract month

Settlement

Cash Settlement

Daily Settlement Price

The daily settlement price is calculated as follows at the end of the session and rounded to the nearest price tick:

a) The weighted average price of all the trades executed within the last 10 minutes of the session,

b) If less than 10 trades were realized in the last 10 minutes of the session, the weighted average price of the last 10 trades executed during the session,

c) If less than 10 trades were realized in the session, the weighted average price of all the trades executed during the session,

d) If no trades were done during the session, the previous day settlement,

will be determined as the daily settlement price.

If the daily settlement price cannot be calculated with the above methods by the end of the session, or the prices calculated do not reflect the market correctly, the daily 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 spot price of the underlying asset or the daily settlement price for other contract months of the contract.

Trade reporting will not be taken into consideration in the above calculations. The Settlement Price Committee’s right to change the daily settlement price is under reserve.

Expiry Day (Final) Settlement Price

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.
Nİ: The number of calendar days in the relevant calculation period on which the rate is ri
r  : The weighted average repo rate at Interbank Repo Reverse Repo Market for i day

The previous weighted average overnight repo rate with same value date may be used for days which the trading at Borsa Istanbul Interbank Repo Reverse Repo Market cannot be operated at any trading day and/or the weighted average overnight repo rate cannot be determined.

The final settlement price will be determined by the Settlement Price Committee if the price is not determined with methods above or the calculated prices do not reflect the market accurately.

Contract Months

All calendar months (The current contract month and the nearest three contract months shall be concurrently traded)

Settlement Period

T+1

Losses are deducted from the accounts starting from the end of T day, profits are added to the accounts by T day as well .

Last Trading Day

Last business day of the contract month.

Expiry Date

Last business day of the contract month.

Price Quotation and Minimum Price Tick

Price is entered to the system as a two digit value of interest rate multiplied by 100. (Example: 10.05, 10.06 etc.) Minimum price tick is 0.01. The tick value is;

For the month with 30 days: 8.21918

For the month with 31 days: 8.49315

For the month with 29 days: 7.94521

For the month with 28 days: 7.67123

Daily Price Limit

Base price is the price determined by the Settlement Price Committee on the day the relevant contract is introduced for trading, and used in calculating the daily price change limits. For the other days, base price is the settlement price of the previous day.

Daily price limit is equal to ±50% of the base price determined for each contract. If the upper or lower limit so calculated does not correspond to a price tick, the upper limit will be rounded to the upper price tick; and the lower limit, to the lower price tick.

Trading Hours

Continuous trading from 09:30 to 18:15

Margin

Clearing legislation shall be applied.