TurkDex

TurkDex transactions are at Garanti.
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TurkDex is the acronym for the Turkish Derivatives Exchange where futures and options contracts are traded. These contracts are also referred to as derivative products. TurkDex started operating in February 2005 and is located in İzmir.

You can get information regarding TurkDex through Garanti Investment Centers, by being directed to our Investment Centers through our branches or by calling our Session Rooms.

You can open a TurkDex account through the Investment Transactions menu, TurkDex step on Internet Banking.

  • Features
    • The nature, the amount and the maturity date of the asset that is the subject of the trading transaction are standardly specified on TurkDex contracts.
    • They are traded on an organized exchange. They are under the guarantee of the Turkish Derivatives Exchange and the clearing agency through a collateral system. Investors who want to engage in trading of these instruments are required to put up margins specified separately on each contract.
    • They may be bought and sold till maturity. Before maturity, the investor may close his/her position by taking a reverse position. Delivery is not obligatory.
    • Profit and loss are calculated on a daily basis and reflected on the relevant account.
    • On derivatives markets, unlike on spot markets, while trading takes place in the present, the contractual obligations of the trade are fulfilled at a specified date.

    The Contracts being traded on TurkDex and their maturity dates

    On TurkDex, contracts in index, foreign currency, interest rate and commodity groups are traded with standard maturity dates specified for each group.

     

     ContractsSize of ContractsMin. Price IncrementContract Maturities
    Index ISE-30 Index (ISE-30 Index Value/10) TL 0,025 (25 Index Points) Contracts mature in the months of February, April, June, August, October and December. Simultaneously, contracts whose maturities fall within the closest three maturity months can be traded. If one of these maturity months is not December, then the month is made available for trading as the fourth contract.
    ISE-100 Index (ISE-100 Index Value/10) TL 0,025 (25 Index Points) Contracts whose maturities fall within the two maturity months closest to the current month are traded.
    Foreign Currency USD / TL 1,000 $ 0,0005 (worth 0,5 TL) Contracts mature in the months of February, April, June, August, October and December. Simultaneously, contracts whose maturities fall within the closest three maturity months can be traded. If one of these maturity months is not December, then the month is made available for trading as the fourth contract.
    EURO / TL 1,000 EUR 0,0005 (worth 0,5 TL)
    Interest Indicator DIBS 10,000 TL (nominal) 0,01 (worth 1 TL) For each basis asset, a total of 3 maturity months, consisting of the month following the issue date, the second and the fourth months following this month, are made available for trading.
    Commodity Aegean Standard 1 Cotton 1,000 kg 0,005 (worth 5 TL) Contracts that mature in the months of March, May, July, October and December of the year following the issue date are traded.
    Anatolian Red Crusty Wheat 5,000 kg 0,005 (worth 2,5 TL) Contracts whose maturities fall within the closest two maturity months from among the months of March, May, July, September and December are traded.
    Gold (Bullion) 100 gr. 0,005 (worth 0,5 TL) Contracts mature in the months of February, April, June, August, October and December. Contracts whose maturities fall within the three maturity months closest to the transaction date are traded.

  • Advantages
    • Leveraging: Through leveraging on TurkDex, the investor can take larger positions in margin purchase or short sales transactions without having to invest the full amount of a contract. By putting up approximately one-tenth of a contract's value as the initial margin, gains or losses of the relevant investment instrument are obtained.
    • Short Sales: The Derivatives Exchange provide the investors with the opportunity to engage in short sales.
    • Tax Advantages: No stoppage tax applies for Index Contracts and Single-Equity Based Contracts. For Tax regulations at TurkDEX please click here.
    • Portfolio Diversification: The contracts available through TurkDex provide portfolio managers with the opportunity to diversify their portfolios and to spread out the risk with alternative investment instruments.
    • Hedging: Futures and options contracts provide protection against interest rate, exchange rate, and price movement risks for producers, importers, exporters, investors and for the entire real sector.
    • Earning interest on margins: TL cash margins that are put up to buy TurkDex contracts accrue interest at a rate specified by Takasbank.

    * Net gains secured in 2009 through all other foreign currency, interest rate and commodity contracts, are subject to a 10% stoppage, after trading commissions are taken into consideration. For gains secured when closing the positions taken in 2008, a “0%” stoppage will be in effect.

  • FAQs

    We found the following questions in our Help & Advice which might be useful for you...

    How can I place a buy order for the fund? Can I place a buy order in the interim period?

    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.

    Find out more

    What are the advantages of trading on TurkDex (The Turkish Derivatives Exchange)?

    Advantages of trading are leveraging, short sales, tax advantages, portfolio diversification, hedging and accretion of margins.

    Find out more

    When are the demand collection periods of the first and the second sub funds for investment and the IPO?

    For the first sub-fund, the investment period is between July 27 2009 – June 23, 2010. The demand collection period is July 15 – 24.

    Find out more

    I want to use share purchase loan, what do I have to do?

    With the share purchase loan, you can purchase stocks even if you do not have any money in your account.

    Find out more

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