Borsa İstanbul A.Ş. is authorized to resolve disputes arising from exchange transactions between entities authorized to trade on the exchange, either among themselves or with their clients.
Accordingly, for a dispute to fall within the jurisdiction of Borsa İstanbul; it must arise either between authorized trading institutions or between such institutions and their clients, and it must originate from exchange transactions.
In the resolution of disputes, the Board is assisted by the Borsa İstanbul Dispute Committee (the “Dispute Committee”).
Where to Apply in Case of a Dispute
Since Borsa İstanbul is authorized to resolve disputes arising from exchange transactions, applications relating to such disputes may be submitted directly to Borsa İstanbul.
For disputes not arising from exchange transactions, applications may be submitted to the Turkish Capital Markets Association in accordance with the relevant legislation. In addition, the parties always retain the right to resort to judicial remedies or arbitration.
Definition of an Exchange Transaction
An exchange transaction refers to the submission of orders related to capital market instruments traded on the exchange, the matching of such orders in accordance with exchange rules, and the fulfillment of the resulting obligations within the methods and timeframes specified by the exchange and the relevant clearing and custody institutions.
Dispute Resolution Service Fee
A dispute application must be submitted in writing and is subject to the payment of a dispute resolution service fee.
According to the tariff determined by the Board and approved by the Capital Markets Board:
Where the claimed amount is specified; the fee is 1% of the claimed amount, subject to a minimum of TRY 2,500 (+ VAT) and a maximum of TRY 10,000 (+ VAT).
Where the claimed amount is not specified; a fixed fee of TRY 3,750 (+ VAT) applies until the amount is determined.
If the applicant is found to be wholly or partially justified, the fee is reimbursed by the opposing party. However, the fee is not refunded if the complaint is withdrawn, the parties reach a settlement, or the dispute is taken to arbitration or court.
Bank account information where the dispute resolution fee must be paid: Türkiye İş Bankası A.Ş. - Maslak Branch, Branch Code: 1223 IBAN: TR92 0006 4000 0011 2231 1161 11 Account No: 1116111
Procedure for Filing a Dispute Application
A dispute application must be submitted through a written petition including; the names, surnames, addresses, and contact details of the parties and their legal representatives (if any); detailed information regarding the disputed exchange transaction(s) (including date, type of transaction, quantity, price, etc.), the factual background, legal grounds, and supporting evidence, and a clear statement of the claim.
The petition must bear a wet signature or secure electronic signature, and be submitted together with supporting documents and proof of payment of the dispute resolution fee. Submission may be made physically or by post to Borsa İstanbul, or via its registered electronic mail (KEP) address.
The dispute resolution process commences upon proper submission of the petition and payment of the applicable fee.
Review and Decision Process
Applications are initially reviewed by a rapporteur of the Dispute Committee. If deficiencies exist in the application or documents, or if the fee has not been paid, the applicant is granted 15 days to remedy such deficiencies. If the deficiencies are not remedied within this period, the application is deemed not to have been filed.
The application is then notified to the opposing party by the rapporteur. The respondent has 10 business days to submit its response and supporting documents, which may be extended upon request (not exceeding an additional 10 business days).
The rapporteur is authorized to collect all relevant information and evidence and request explanations from the parties. Following completion of the review, the file is submitted to the Dispute Committee, whose decision is then presented to the Board of Directors. The final decision is rendered by the Board of Directors and notified to the parties.
If the amount decided by the Board of Directors exceeds the threshold determined under Article 84/5 of the Capital Markets Law (2.065.145 TL for 2026), the parties may file an objection with the Capital Markets Board within 15 days from notification of the decision. Decisions of the Capital Markets Board are final; however, they may be challenged before administrative courts.
Withdrawal, Settlement, and Recourse to Arbitration or Courts
The applicant may withdraw its claim, in whole or in part, at any stage of the proceedings. The parties may also reach an amicable settlement at any time.
In cases of; withdrawal of the complaint, settlement between the parties, or recourse to arbitration or judicial proceedings, the following applies:
the relevant party must notify Borsa İstanbul within three business days,
the Committee decides to dismiss the file, and
the dispute resolution service fee is not refunded.
In such cases, no re-application may be made to Borsa İstanbul regarding the same dispute.
Statute of Limitations
Applications that are not submitted within two years from the date of the disputed exchange transaction will not be examined by Borsa İstanbul. If the dispute resolution fee has already been paid in such cases, it will be refunded to the applicant.
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