Important News/Developments

All the news/developments about Garanti and the banking sector.All the news/developments about Garanti and the banking sector.

For the attention of our investors

An announcement by the ISE Board of Governors gives the following information about the principles governing trading and clearances that will apply to all ISE markets and exchanges due to the half-day holiday on 28 October 2008 and to the full-day holiday on 29 October 2008.

On the Bonds & Bills Outright Trading Market and the Repo & Reverse Repo Trading Market, trading will begin at 09:30 hours and end at 11:30 hours on 28 October 2008. Cash and security clearance obligations entered into on 28 October 2008 with a same-day settlement date must be fulfilled no later than 12:30 hours that day. Repo associated security depositions however must be fulfilled no later than 11:50 hours.

On the Bonds & Bills Outright Trading Market and the Repo & Reverse Repo Trading Market, there will be no trading or clearances at all on 29 October 2008.

On the Equities Exchange, there will be only one trading session on 28 October 2008 due to the half-day holiday that day. There will be no trading sessions at all on 29 October 2008. Trades that take place on 24 October 2008 will be cleared on 30 October 2008. The clearances for all trades taking place on 27 & 28 October 2008 will be effected on 31 October 2008.

On the ISE Foreign Securities Exchange International Bonds Market, trading will begin at 09:30 hours and end at 11:30 hours on 28 October 2008. There will be no trading or clearances at all on 29 October 2008.

According to a Turkish Derivatives Exchange (TurkDEX) announcement, there will be a different trading and clearance schedule on the exchange due to the half-day holiday on 28 October 2008.

The chart below shows the trading and clearance schedule that will be followed on 28 October 2008.

09:15 Trading begins
12:30 Trading ends
12:40 Announcement of settlement prices and margin calls
(T-day / 27 October 2008) 17:45 - (T+1 Day / 28 October 2008)
11:00 Clearance period
11:00 First default period begins
EFT cutoff time Second default period begins
11:40 Cash withdrawal period ends
11:40 Accounting
12:20 Margin call period ends

Clearances for transactions taking place on Tuesday 28 October 2008 must be completed by Thursday 30 October 2008.

There will be no trading or clearances at all on TurkDEX on 29 October 2009 due to the holiday.

Because the cutoff time for EFT at our bank will be 11:00, the margin call time will be 10:45 hours and the withdrawal time will be 10:30 hours.

Mutual fund share trading hours will be as follows:

On 28 October 2008 (half day):

  • All mutual fund trading settlements will be effected as of 10:30 hours.
  • No money-market reserve transactions will be allowed.
  • The final accounting program will be activated for the last time at 10:35 hours.
  • The Excess Liquidity Management Account (ELMA) program will be activated at 09:45 hours.
  • Money-market fund trading will be closed on all channels as of 11:15 hours.
  • In the case of Type A mutual funds, no half-day share trading will be permitted because there will only be a single share trading session and no clearances this day.
  • In the case of Type A mutual funds, no half-day prices will be announced because there will only be a single share trading session and no clearances this day.
  • 28 October 2008 will be a trading holiday for Type A mutual fund and Gold Fund shares.