Page 10 - Investing in Borsa Istanbul Markets

Products in the Derivatives Market

Future Contracts

Stock Index (BIST 30, BIST Liquid Banks, BIST Liquid 10 ex Banks indices)

Single Stock (49 equities from BIST 100 Index)

Currency (FX) (six different currency pairs, USDTRY - including physical delivery -
EURTRY, EURUSD, RUBTRY, CNHTRY, GBPUSD)

Precious Metals (Gold ounce/dollar, Gold TRY/gram, Silver ounce/dollar,

Platinum ounce/dollar, Palladium ounce/dollar)
Energy (Electricity Base Load Contracts, monthly/quarterly/yearly)

Interest Rate (TLREF - Turkish Lira O/N Reference Rate)

Foreign Index (SASX 10 index)
Government Bond Futures (2, 5, and 10 year benchmark government bonds)

Underlying Assets of Option Contracts

Stock Index (BIST 30)
Single Stock (24 equities)

Currency (USDTRY - including physical delivery)

In addition to trading opportunities, investors may hedge their risk at the cash equity market through stock index
and single stock contracts. The Derivatives Market also offers efficient hedging tools for companies to manage
their currency risk. Besides, precious metals and energy futures meet different trading or hedging needs of inves-
tors.

All these different products may be reached by a single account at an intermediary institution. USDTRY currency
contracts are both settled in cash and physically delivered. Government bond futures and single stock contracts are
physically settled at maturity, while the other contracts are settled in cash. The contracts have standard
end-of-month expiry dates, however, the investors themselves may create flexible contracts by choosing maturity
date for futures and options and choosing strike price for options.

The positions are held and marked to market daily by Takasbank at the account level.
Risk management of the whole market is carried out by Takasbank through an effective
risk monitoring and collateral management system. Trades executed in the Market are
subject to portfolio based margining method. For further information regarding risk
management, margining or clearing issues visit Takasbank website.

Market making program in Derivatives Market includes revenue sharing scheme. Accordingly, for
some of the contracts traded, Borsa İstanbul shares a portion of the revenue coming from those
contracts with market makers who meet their obligations. The market makers have also connection
incentives. Further details of the market making program is available on the Borsa İstanbul website.

PAGE | 08 www .borsaistanbul.c om