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With the Announcement dated 25/11/2015 and numbered 2015/117, in line with BISTECH migration on 30/11/2015, Circular on Derivatives Market (VIOP) Operations Principles dated 19/07/ 2013 and numbered 433 will undergo below stated updates starting from 30/11/2015.
- In the article number 4.5.8. titled “Maximum Order Sizes”, maximum order sizes for single stock futures and options previously calculated based on last session weighted average price will be calculated based on closing price of the spot market session.
- In the article number 7.1. titled “Single Stock Options Contract”, “Strike Prices” section, strike prices previously calculated based on last session weighted average price will be calculated based on closing price of the spot market session.
- In the article number 7.2. titled “Single Stock Futures Contract”, “Expiry Day (Final) Settlement Price” section instead of the phrase of “the closing price of the spot market’s closing session (at the end of the second session)”, “closing price of the spot market session” will be stated.
- In the article number 7.3. and 7.4. titled “BIST 30 Options Contract” and “Mini BIST 30 Options Contract”, “Expiry Day (Final) Settlement Price” section, instead of the phrase of “the time weighted average of the last 30 minutes of continuous auction in the equity market (in the second session)”, “the time weighted average of index values of the last 30 minutes of continuous auction in the equity market” will be stated. At the same articles’ “Strike Prices” section, strike prices previously calculated based on previous day’s last closing price of underlying index will be calculated based on previous day’s closing price of the spot market session.
- In the article number 7.5. titled “BIST 30 Futures Contract”, “Expiry Day (Final) Settlement Price” section instead of the phrase of “the time weighted average of the last 30 minutes of continuous auction in the equity market (in the second session)”, “the time weighted average of index values of the last 30 minutes of continuous auction in the equity market” will be stated.
- The phrases of “second session” will be replaced by “session” throughout the Circular.
For the full text of the up-to-date version of the Circular, please visit Borsa Istanbul website as of 30/11/2015.
