New regulation at Borsa Istanbul!

Borsa Istanbul has announced that it has made changes to the operational principles of the Derivatives Market (VIOP).  

NEW CRITERIA FOR ERRONEOUS TRANSACTIONS

According to the statement made by Borsa Istanbul, effective as of January 26, changes have been made to the minimum loss amount required for the cancellation of transactions resulting from erroneous order(s), which is one of the criteria sought for the cancellation of erroneous transactions.

According to the change, it has been decided that the minimum loss amount is set at 100 thousand Turkish Lira for applications made before 17:30 on full business days (before 12:00 on half business days) for regular session transactions, at 400 thousand Turkish Lira for applications made at or after 17:30 on full business days (at or after 12:00 on half business days), and at 100 thousand Turkish Lira for applications made for evening session transactions.

UPDATED EXPRESSIONS IN VIOP PROCEDURE

With the change, it has been decided to update the expressions in the VIOP Procedure regarding user allocation, taking into account that the contracts and accounts that can be traded by users allocated to market makers are restricted by the Exchange.

Furthermore, with the development made in the Pre-Trade Risk Management Application (PTRM), since it has become possible to set a limit by defining a different value during the day for risk limits that were previously set to zero, it has been decided to update the relevant article in the VIOP Procedure and to make other explanatory revisions in the VIOP Procedure.

News Source: 12punto