What are the trading hours, margin deposit, margin call and default principles for online Turkdex transactions?
You may carry out your online TurkDex transactions during the regular TurkDex trading hours.
The orders placed within the first 10 minutes following the end of the session will be canceled (between 16:40-16:50). Orders placed after 16:50 will be forwarded to the exchange at the beginning of the session the next day.
9:15 – 12:00 : Normal Session
12:00 – 13:00 : Recess
13:00 – 16:40 : Normal Session
16:55 : The announcement of settlement prices and margin calls
To be able to place orders through online TurkDex transactions, the margin must be deposited by 15:30; and orders for free margin withdrawal must be placed by 14:30.
Maintenance Margin: is the amount the investor must keep in the account after depositing the initial margin and executing the trading transaction. The maintenance margin is determined as 75% of the initial margin by TurkDex.
Margin Call: If the initial margin falls to or below the maintenance margin level, the investor is requested to bring the remaining margin level up to the initial margin level. Margin calls are announced along with the declaration of settlement prices following the end of the session.
Example: For USD/TL contract:
The Initial Margin is TL 150 and the Maintenance Margin is TL 112,5. If the Remaining Margin falls below TL 112,5 (e.g.: TL 100) the customer will be issued a Margin Call in the amount of (TL 150 – TL 100 = TL 50).
You may place your buy orders between the hours of 09:00 and 18:00 on the announced demand collection days, and until 12:00 on the last day.
While orders for only 1 or 2 sessions can be placed in the buy/sell step, you can place orders for a minimum of 3 sessions in the morning session, and a minimum of 2 sessions in the afternoon session, with a maximum of up to 40 sessions.