Derivatives Market (VIOP) Operations Principles Circular no. 433 dated July 19, 2013 is amended as explained below.
- Order cancellations in FX and gold derivatives will be exempt from “voluntary order cancellation fee” calculations. This change will be effective from April 1, 2016.
- The number of substitute members in both the Settlement Price and Corporate Actions Committees is increased from three to six.
- A statement for clarification for the value used in the calculation of the final settlement prices of BIST30 Index options and Mini BIST30 Index options is the same as the final settlement price of the pertaining month’s BIST30 Index futures.
- A statement for clarifying that a rounding to the nearest price tick is made while determining the final settlement prices of Steel Scrap and FBIST ETF futures, is inserted.
- With respect to the rights of market makers, the articles related to “voluntary order cancellation fee” calculations have been updated to reflect that market maker account is exempt from “voluntary order cancellation fee” calculations for the product in which it serves as a registered market maker.
The updated version of the Circulars is available at:http://www.borsaistanbul.com/data/bylaws/Circular_on_VIOP_Market_Operations.pdf