You may kindly find the new regulations stated on the exchange’s circular numbered 442 and dated February 14, 2014 below. For the full text of the up to date version of this circular, Please visit the following link:

www.borsaistanbul.com/data/bylaws/433_viop_market_operations_circular.pdf

• The calculation methods of final settlement prices of Single Stock Futures, BIST 30 Index Futures and BIST 30 Index Options contracts have changed as indicated below.

• Single Stock Futures Contracts

The final settlement price of single stock futures contracts shall be the closing price of the spot market’s closing session (at the end of the second session) on the last trading day. The final settlement price will be determined by the Settlement Price Committee if the second session in the spot market was partly or entirely closed, or price was not discovered despite the fact that the market was open on the last trading day.

The new calculation method of single stock futures contracts will be effective starting from the February 2014 expiry.

• BIST 30 Index Futures

The final settlement price of BIST 30 futures contracts shall be calculated by weighting of  the time weighted average of the last 30 minutes of continuous auction in the equity market (in the second session) 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.

The new calculation method of the BIST 30 index futures contracts will be effective starting from the February 2014 expiry.

• BIST 30 Index Options Contracts

For the call options:  The final settlement price shall be calculated by weighting of the time weighted average of the last 30 minutes of continuous auction in the equity market (in the second session) 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 the last 30 minutes of continuous auction in the spot market (in the second session) 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.

The new calculation method of BIST 30 Index options contracts will be effective starting from the February 2014 expiry.

• “Correction of Error Trades Form” is not required to be sent except in cases stated in the Circular.

Please be informed and take the necessary actions.

Sincerely,

VİOP