Single stock future and option contracts and index option contracts maturing on May 31 2013, traded on Borsa İstanbul will be redeemed at the end of the day on Friday, May 31, 2013. As announced by Borsa İstanbul’s Circular on Futures and Options Market Operation Principles no. 419, dated March 28, 2013, at the end of such trading day:
- Open positions in the single stock future contracts will be subject to physical delivery.
- In the case of single stock option contracts, instruction must be given for exercising rights, and those positions for which no instructions have been given shall be closed without being subject to settlement.
-Stock index option contracts, on the other hand, will be automatically used if they are in-the-money. Detailed information on the subject is available in the Circular no. 419.
Where there will be physical delivery, Takasbank A.Ş. may require investors with open positions to deposit extra collateral under the name “physical delivery charge”, therefore Borsa İstanbul members are kindly requested to show due care and attention in order not to be subject to margin calls.
Upon maturing of the May 2013 contracts, new future and option contracts for July 2013, defined as the new maturity month, will start trading in accordance with the Futures and Options Market regulations. Such contracts will start trading on Monday, June 3, 2013. Information on these contracts will be available in the reports entitled “current contracts” and “contract revision file” dated May 31, 2013 on www.borsaistanbul.com/erd page. For your information and necessary action.