The Capital Markets Board (SPK) has issued a statement regarding buy-sell orders submitted to TEFAS on September 17, 2026, for funds subject to liquidation, which were subsequently cancelled by the platform. The Board announced that the holders of these orders will be paid from the liquidation balance in proportion to their participation share ownership in the fund.
In its statement, the SPK recalled that the funds founded by the portfolio management companies listed in the Board Bulletin dated September 17, 2026, and numbered 2026/60, were closed to buy and sell transactions via the Turkish Electronic Fund Trading Platform (TEFAS) as of that same date and were subjected to liquidation.
The Board noted that the current list of funds subject to liquidation was shared with the public in the bulletin numbered 2026/61, published on September 18, and that buy and sell transactions for these funds outside of TEFAS were also halted.
According to the statement, only buy and sell orders submitted to TEFAS on or before September 16, 2026, were included in the platform's standard operations for transaction values in the relevant funds. The SPK noted that because orders placed after 13:30 on September 16 and before 13:30 on September 17 were subject to the same price value, the cut-off time of 13:30 on September 17 had been announced in the previous bulletin.
However, it was emphasized that in accordance with the Board Bulletin dated September 17, numbered 2026/60, and the Board decision numbered 57/1707, the funds were closed to trading on TEFAS on that same day. Therefore, it was stated that all orders placed for these funds on September 17 were cancelled by TEFAS.
The SPK announced that the payment to be made to the holders of orders submitted to TEFAS on September 17, which were cancelled as part of the implementation of the Board's decision, will be carried out by taking into account the participation share ownership ratio in the relevant fund from the liquidation balance.
The statement further indicated that, regarding the implementation of provision A/6 of the liquidation procedures and principles announced in the Board Bulletin dated September 17, numbered 2026/61, orders that could not be executed due to the default of the relevant fund or failure to announce a price, despite having been submitted to TEFAS on or before September 16, will also be evaluated within the scope of the liquidation.
News Source: 12punto
