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!

The İstanbul Stock Exchange (ISE) has announced the following principles governing trading and clearances that will apply to all ISE markets and exchanges due to the half-day holiday on 26 November 2009 and the full-day holidays on November 27th and 30th.

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 26 November 2009. Cash and security clearance obligations entered into on 26 November 2009 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 either 27 November 2009 or 30 November 2009.

On the Equities Exchange, there will be only one trading session on 26 November 2009 due to the half-day holiday that day. There will be no trading sessions at all on either 27 November 2009 or 30 November 2009. Trades that take place on 24 November 2009 will be cleared on 1 December 2009. The clearances for all trades taking place on 25-26 November 2009 will be combined and will be effected on 2 December 2009.

On the ISE Foreign Securities Exchange International Bonds Market, trading will begin at 09:30 hours and end at 11:30 hours on 26 November 2009. There will be no trading or clearances at all on either 27 November 2009 or 30 November 2009.

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 26 November 2009. The chart below shows the trading and clearance schedule that will be followed on 26 November 2009.

09:15 Trading begins
12:35 Trading ends
12:45 Announcement of settlement prices and margin calls
(T-day / 25 November 2009) 17:45 - (T+1 Day / 26 November 2009) 11:00 Clearance period
11:00 First default period begins
11:40 Cash withdrawal period ends
11:40 Accounting
12:29 Physical delivery period ends

Clearances for trades taking place on Thursday 26 November 2009 must be completed on Tuesday 1 December 2009. There will be no trading or clearances at all on TurkDEX on either 27 November 2009 or 30 November 2009 due to the holiday.

Mutual fund share, EFT, repo, and arbitrage transaction hours will be as indicated below.

On 26 November 2009 (half day):

  • EFT and repo times at our bank will be 11:00 hours. In the case of TurkDEX security deposits and withdrawals, the deposit time will be 10:45 hours and the withdrawal time will be 10:30 hours.
  • Arbitrage trading will continue until 13:00 hours.
  • 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 11:00 hours.
  • Money-market fund trading will be closed on all channels as of 11:15 hours.
  • In the case of Type A mutual funds, only sales orders to customers will be effected.
  • In the case of Type A mutual funds, customers’ fund share sale orders will not be effected because there will only be a single share trading session and no clearances this day.
  • In the case of the Type B Gold Fund and Type B Foreign Equities Fund, 26 November 2009 will be a full-day holiday.