New decision for short selling at Borsa İstanbul: Effective today

Borsa İstanbul has made a new decision regarding short selling transactions for stocks included in the BIST 50 Index. According to the statement published on the Public Disclosure Platform (KAP), the "uptick rule" will be applied to short selling transactions for these stocks starting with transactions on September 22.

The practice will remain in effect until a new announcement is made by Borsa İstanbul. The statement recalled that, in accordance with the decision of the Capital Markets Board (SPK), short selling is permitted for stocks included in the BIST 50 Index.

According to the uptick rule, a short sale transaction can be executed at a price higher than the last realized transaction price of the relevant stock. However, if the last realized price is higher than the previous transaction price, the short sale order may also be submitted at the last realized price level.

Borsa İstanbul stated that if investors sell shares they do not own during the day and subsequently close these positions by purchasing the same shares within the same day, these transactions will also be considered within the scope of short selling.

For this reason, investors and investment firms are required to select the "short selling" option when submitting such orders. Borsa İstanbul's statement emphasized the importance of exercising the necessary care and diligence in ensuring that orders are submitted correctly.

News Source: 12punto