Borsa Istanbul

PROFILE

 

The following is selected information on the profile of Borsa İstanbul, senior management and other aspects of operations:                                                                                            

               

 

Base Profile

No

Item

Details

1

Exchange operations

1985

 

2

Membership

  • Founding Member of Federation of Euro-Asian Stock Exchanges (FEAS)
  • Member of World Federation of Exchanges (WFE)
  • Member of Federation of European Securities’ Exchanges (FESE)
  • Affiliate Member of Futures Industry Association (FIA)
  • Member of World Federation of Diamond Bourses (WFDB)
  • Member of London Bullion Market Association among many other associations (LBMA)

3

Time Zone

Greenwich Mean Time + 3 İstanbul

4

Address

Reşitpaşa Mah. Tuncay Artun Cad. Emirgan Sarıyer 34467

İstanbul Turkey

Tel: 00 90 212 298 2100 F: 00 90 212 298 2500

5

Website

www.borsaistanbul.com

6

Trading Days

Monday, Tuesday, Wednesday, Thursday, Friday (incl. weekends and other holidays for Precious Metals and Diamond Market)

7

Trading

Automated Trading System

8

Trading Access

Wide Area Network  and Local Area Network (Backup)

9

Access Rights

Borsa İstanbul authorized members

10

Trading Hours

-Equity Market & Emerging Companies Market:  09:15-12:30 & 14:00-17:40

-Debt Securities Market:

 

Same Value Date

Lunch Break

Future Value Date

Outright Purchases and Sales Market

09.15 – 14.00

12.00 – 13.00

09.15 – 17.00

 

Repo- Reverse Repo Market

 

Repo Market for Specified Securities

 

Interbank Repo Reverse Repo Market

 

Offerings Market for Qualified Investors

09.15 – 14.00

 

Equity Repo Market

09.35 – 12.00

12.00 – 14.15

09.35 – 17.00

 

International Bonds Market

-

12.00 – 13.00

09.15 – 17.00

 

Eurobond Neg Deals Platform

-

12.00 – 13.00

09.15 – 17.00

 

Notification of Securities Against Repo

09.15 – 15.00

-

-

 

-Precious Metals and Diamond Markets:

Precious Metals Market

Precious Metals And Diamond Markets Trading Hours

Starts 04:00 pm and closes 04:00 pm the next day. (24 hours continuous session)

Precious Metals Delivery Liabilities

Last trading time for daily transactions is 16:00 (T+0)

Monetary Liabilities

Last trading time for daily transactions is 17:15 (T+0)

 Lending Market

Lending Market Trading Hours

Between 09:45 and 17:30 on business days

 Diamond and Precious Stones Market

Diamond and Precious Stones Market Trading Hours

Between 09:45 and 16:30 on business days

-Derivatives Market:

Contracts

Normal Session Hours

No Trading

Equity Futures and Options

09:10 - 17:40

12:30 - 13:55

Index Futures and Options

09:10 - 17:45

12:30 - 13:55

Other

09:10 - 17:45

None

11

Trading Currency

Turkish Lira (TL)

12

Key Regulations

  • Capital Market Law No. 6362 and related regulations 
  • Capital Markets Board (CMB) Regulations
  • Borsa İstanbul Trading Rules

16

Reports & Bulletins

  • Daily Market Bulletin
  • Borsa İstanbul Magazine

17

Data Vending

Yes

18

Settlement Procedure

Delivery vs Payment

19

Delivery

Automated Delivery System

20

Settlement

via Clearing House

22

Risk Mitigation

  • Investor Compensation Center (operated by Capital Markets Board of Turkey)
  • Guarantee Fund
  • Settlement Limits

 

Equities Profile

Share price range from 0.11 to 16,000 Turkish Lira as of 15 May 2015.

No

Item

Details

1

No of Securities

421 companies & 15 ETFs as of 15 May 2015

2

No of Segments

5th launched in January 2011, 6th in January 2012

3

Segments

  • National Market 
  • Second National Market
  • Collective Products Market
  • Watchlist Companies Market
  • Emerging Companies Market (an individual market)
  • Free Trade Platform

4

Main Investment Market Segment  Sectors

The first five sectors according to market capitalization are: financial institutions (52 %), manufacturing industry (33 %), transportation telecommunications and storage (8 %), wholesale retail, trade, hotels and restaurants (5 %), construction and public works (2 %)

 

According to end of September 2013 figures

5

Market Capitalisation

252,983 Mn USD (Incl. Emerging Companies Market & Excluding ETFs) as of May 2015

6

Indices

  • BIST 100 (Main index)
  • BIST 30 (Blue chip index)
  • Totaling to over 50 indices

7

Indices Base

  • BIST 100 (Base 1: 1986)
  • BIST 30 (Base 976: 27.12.1996)

8

Big 5 Listees

  • Garanti Bankası
  • Akbank
  • Sabancı Holding
  • Turkcell
  • Bim Mağazaları

controlled % 32 of the total equity market capitalization as of May 15th, 2015

9

Delivery, Settlement, Registration

Provided by subsidiary companies: registration at Merkezi Kayıt Kuruluşu (Central Registry Agency) in which Borsa İstanbul has 30% shareholding and settlement and custody at Takasbank (Clearing and Settlement Bank) in which Borsa İstanbul has 44.64 % shareholding

10

Settlement Procedure

Delivery vs Payment

11

Delivery

Automated Delivery System

12

Settlement

via Clearing House Takasbank

13

Settlement Cycle

T+2

14

Risk Mitigation

  • Investor Compensation Fund (operated by Capital Markets Board of Turkey)
  • Guarantee Fund
  • Settlement Limits

15

Taxation

For information, please click on the link:

http://www.invest.gov.tr/en-US/infocenter/publications/Documents/chart-of-principal-turkish-taxes-EN-2013.pdf

  

Debt Securities Profile

No

Item

Details

1

No of Securities

56 government debt securities, 436 private sector securities, 43 eurobonds in total 535 as of end  2014

2

No of Segments

  • Outright Purchases and Sales Market
  • Offering Market for Qualified Investors
  • Repo-Reverse Repo Market
  • Interbank Repo-Reverse Repo Market,
  • Repo Market for Specified Securities
  • Equity Repo Market
  • International Bonds Market

In toto: 7 different sub-markets as of end 2014

3

Types of Listees

Securities Issued by Public Sector: Government Bonds, Lease Certificates (Sukuk), Eurobonds,

Securities Issued by Private Sector: Private Sector Bonds, Bank Bills, Asset-Backed Securities, Commercial Papers, Lease Certificates (Sukuk), Corporate Structured Debt Securities, Asset Covered Bonds,

As of end 2014

4

Mix

Public sector instruments constitute 95.70 % of total traded value, whereas private sector instruments constitute 4.30 %, as of end 2014

5

Index

Borsa İstanbul Government Debt Securities Indices:

  • Debt Securities Market price indices
  • Debt Securities Market performance indices
  • Debt Securities Market portfolio performance indices

6

Maturity

From 1 months to 10 years ( to 31 years for Eurobonds)

7

Interest Rate

Floating, fixed, zero coupon, CPI Linked Notes.

8

Yield Curve

Available from Reuters, Bloomberg etc.

9

Delivery, Settlement, Registration

Provided by Takasbank (Clearing & Settlement) and MKK (Central Registry Agency)

10

Settlement Procedure

Delivery vs Payment

11

Delivery

Automated Delivery System

12

Settlement

via Clearing Bank Takasbank

13

Settlement Cycle

T, T+1, T+2, T+3, T+7, T+15, T+30, T+90

14

Risk Mitigation

Guarantee Fund

15

Taxation

For information, please click on the link:

http://www.invest.gov.tr/en-US/infocenter/publications/Documents/chart-of-principal-turkish-taxes-EN-2015.pdf

 

Precious Metals and Diamond Profile

No

Item

Details

1

Address

Borsa İstanbul A.Ş. Precious Metals and Diamond Markets                                                                                                                                                   

Yenibosna Merkez Mahallesi Kuyumcukent Ladin Sokak Number:4 /İstanbul - Turkey

Phone: +90 212 292 66 00

 

E-mail: kmktm_info--.at.--borsaistanbul.com 

2

International membership related to the Markets

1. London Bullion Market Association                                                                                                                                                                          

2. World Federation of Diamond Bourses                                                                                                                                                                                   

3. Kimberley Process Certification Scheme

3

Sub Markets

1. Precious Metals Market includes the spot trade of standard, non-standard and domestically produced ore gold, silver, platinum and palladium metals.    

                                                                                                                                                                                                    

2. Precious Metal Lending Market provides lending and certificate transactions of defined precious metals.         

                                                                                                                                                                           

3. Diamond and Precious Stones Market provides transactions of diamond and precious stones.

4

Trading Days

1. There is a continuous session for Precious Metals Market included weekend days and other holidays.

                                                                                                                                                            

2. Monday to Friday for Precious Metals Lending Market 

                                                                                                                                                         

3. Monday to Friday for Diamond and Precious Stones Market                                                                                 

5

Trading

Web Based Automated Trading System

6

Trading Hours

1. Daily session starts 04:00 pm and closes 04:00 pm in next business day for Precious Metals Market                                                                                                                                         

2. Non-stop session between 09:45 a.m. and 17:30 p.m.  for Precious Metals Lending Market                                                                                                      

3. Session is between 09:30 – 17:30  for Diamond and Precious Stones Market 

7

Traded Precious Metals and Precious Stones

Gold, Silver, Platinum, Palladium, (Diamond, Sapphire, Ruby, Emerald, Topaz, Chrysolite, Pearl )

8

Trading Unit

1. Turkish Lira/kg, USD/ounce, Euro/ounce for Precious Metals Market                                                                                                                                                

 

2. Turkish Lira/kg and USD/ounce,  Euro/ounce  for Precious Lending Market                                                                                                                                                

 

3. Each diamond and precious stones can be traded in all currencies which are listed by Central Bank.

9

Minimum Order Sizes

1. Minimum amount for the orders in Precious Metals Market for 1 gram and increases by multiples of 1 gram. Each bullion/granule package order is matched by the same bullion/granule package and their settlement is done with the same bullion/granule package.                                                                                                                                                                                            

 

2. Minimum amount for the orders in Precious Metals Lending Market is 5 kgs. The amount can be increased by 1 kg.                                                                                                                               

 

3. There is not minimum amount (carat/kg) for the orders in Diamond and Precious Stones Market.    

10

Maturity

1. T+0 - T+90 for Precious Metals Market                                                                                                                                                       

 

2. Although the maturity of the trade may be increased daily for the trades which have maturity up to one month, the maturity of the trade may be increased monthly for the trades up to 360 days for Precious Lending Market.

11

Delivery, Settlement, Registration

1. Precious Metals Market and Lending Market - Clearing transactions are executed by the Precious Metals Market of the Exchange and Istanbul Settlement and Custody Bank. Obligations of precious metal and cash can be met without gathering parties of the transaction.                                                                                                                                                                                     

2. Diamond and Precious Stones Market - Because of market structure delivery and settlement procedures of each diamond and precious stones must be done by buyer and seller. The Exchange is not under any liability and is not a side of transactions which are occurred in market.

12

Delivery

Physical delivery by the Exchange (Precious Metals)

13

Settlement

via  Istanbul Settlement and Custody Bank (Cash)

14

Precious Metals Delivery Liabilities

At the latest 16:00 for daily transactions (T+0) for precious metals

15

Monetary Liabilities

At the latest 17:00 for daily transactions (T+0) for precious metals

 

BIST Private Market Profile

No

Item

Details

1

Address

Borsa İstanbul Özel Pazar - Reşitpaşa Mah. Tuncay Artun Cad. Emirgan Sarıyer 34467 İstanbul Turkey

Phone: +90 212 298 2929

 

E-mail: info--.at.--bistozelpazar.com 

Web site: www.bistozelpazar.com

2

Definition

Borsa İstanbul Private Market is a web- and membership-based platform. It brings companies and investors together to buy or sell shares for growth capital and investment without going public.

3

Official Launch Date

November 17, 2014

4

Members

1.Companies/Shareholders

       a. Start-Ups

       b. Growth Companies

2.Investors

       a. Legal Persons (Qualified Investors)

       b. Natural Persons ( Qualified Investors and Certified Angel Investors)

3.Intermediaries

4.Service Providers

5

No of Members

222 as of 14 May 2015 (121 companies/shareholders, 89 investors, 10 service providers, 2 intermediaries)

6

Market Statistics

 

 

TL

USD

Total annual revenue of the companies

 

2.764.604.334

 

1.059.396.380

Total assets of the companies

2.179.096.697

834.594.034

The amount of investments sought by the companies

737.746.500

                282.704.458

 

 

7

First Partnership Agreement

February 25, 2015 – Between STC Ventures & Modanisa.com

8

Trading Days/ Hours

24/7

9

Trading

Web-based Platform

11

Minimum Purchase

 20.000 TL

12

Functions

Investment, Funding, Information sharing, virtual data and deal room and closing, liquidity program

Management

Mr. Talat Ulussever, Ph.D. Chairman

He was born in Adana, Turkey in 1970. Holding a BA degree in Public Finance from Ankara University (Turkey) and a Master’s degree in Management of Financial Resources from Carnegie Mellon University (USA), he earned his Ph.D. degree in Economics from the University of Kansas (USA) in 2004. During his graduate studies, he worked as teaching assistant, financial analyst, instructor and adjunct professor at different universities and institutions in the U.S. After acquiring his Ph.D., he joined Benedict College in Columbia, South Carolina (USA) in 2004 as Assistant Professor of Finance where he lectured on economics and finance until 2007. Besides his academic career at Benedict College, he also served as research and financial consultant to the Business Development Center and Community Development Corporation of the College. He continued his academic career as Assistant Professor of Finance at King Fahd University of Petroleum and Minerals in Dhahran, Saudi Arabia where he taught and conducted research in finance and economics. Throughout his graduate and post-graduate studies, he has attended numerous international academic symposia as speaker, discussant as well as chair and published academic papers in internationally recognized refereed journals. Moreover, he has actively participated in many research teams and served as principal investigator, co-investigator as well as consultant on sponsored research projects in the U.S. and Saudi Arabia. Promoted to the rank of Associate Professorship in February 2013, he has served on the Editorial and Scientific Boards of various international academic journals and institutions. He worked for the Investment Support and Promotion Agency of Turkey (ISPAT) from 2010 to 2014 as Chief Project Director and Advisor to the President and trained the Project Directors of ISPAT in economics, finance and investment. Appointed as a Board Member to Borsa İstanbul on April 5, 2013, he was elected as the Chairman of the Board by the General Assembly on March 31, 2015. He is a founding Chairman of Economics Department at İstanbul Sabahattin Zaim University, and has held an Associate Professorship in the School of Political Sciences at Ankara Social Sciences University since 2014.  Dr. Ulussever is fluent in English and has intermediate knowledge of Arabic. Dr. Ulussever is married with four children.

Mr. Tuncay Dinç, CEO

After graduating from Galatasaray High School (Lycée de Galatasaray), Tuncay Dinç earned his undergraduate degree from Boğaziçi University in 1997. Dinç started his career at Kibar Holding Budget Planning Department in 1997, and started to work for Lafarge Turkey in 1998. At Lafarge Turkey, Dinç worked in various departments as finance executive until 2003. Between 2003 and 2007, Tuncay Dinç worked for AVEA as Budget & Planning Manager and as Revenue Assurance Manager, which covered the control and surveillance of all revenue-generating processes, development projects and feasibility studies during the Company’s partnership with Telecom Italia. Dinç also took part in the merger process of Aycell and Aria as manager. In 2007, Dinç started to work in the airlines catering sector, for Turkish DO&CO, founded jointly by the Turkish Airlines and Do&Co. In his CFO and Acting CEO capacity, Dinç ensured the establishment of the Company’s financial structure and systems and assumed the responsibility for all procurement activities of the Company. Tuncay Dinç was elected to the vacant Board member position of Borsa İstanbul A.Ş. at the Ordinary General Assembly meeting held on March 31, 2015. Dinç is a founding member of Boğaziçi Managers Association, where he also served as Chairman. Dinç speaks English and French and is married with three children.