Underlying Security
EUR/USD Parity
Contract Size
1,000 EUR
Price Quotation and Minimum Price Tick
Prices shall be quoted in terms of US Dollars per 1Euro significant to four decimals (1.3050; 1.3051 etc.). The minimum price tick is 0.0001. The minimum price tick corresponds to a value of 0.1 USD for a contract.
Contract Months
Cycle months are February, April, June, August, October and December. Four contracts whose expiration months are the current month, the next calendar month, the next cycle month and December shall be concurrently traded. If there are less than four contracts, an extra contract with an expiration month of December of the next year shall be launched.
Settlement
Cash Settlement
Settlement Period
T+1 (first day following the expiry date) Losses are deducted from the accounts at the end of T day, profits are added to the accounts on T day as well.
Trading Hours
Continuous trading from 09:30 to 18:15 (local time).
Daily Settlement Price
The daily settlement price is calculated as follows at the end of the normal session and rounded to the nearest price tick:
a) The weighted average price of all the trades executed within the last 10 minutes of the normal session,
b) If less than 10 trades were realized in the last 10 minutes of the normal session, the weighted average price of the last 10 trades executed during the session,
c) If less than 10 trades were realized in the normal session, the weighted average price of all the trades executed during the normal session,
d) If no trades were done during the normal session, the previous day settlement, will be determined as the daily settlement price.
If the daily settlement price cannot be calculated with the above methods by the end of the normal session, or the prices calculated do not reflect the market correctly, the daily settlement price may be determined by using one or more of the following methods
a) The average of the best buy and sell quotations at the end of the normal session,
b) Theoretical prices are calculated considering spot price of the underlying asset or the daily settlement price for other contract months of the contract.
Trade reporting will not be taken into consideration in the above calculations. The Settlement Price Committee’s right to change the daily settlement price is under reserve.
Final Settlement Price
EUR/USD Rate announced by the Central Bank of the Republic of Turkey at 3:30 p.m. on the last trading day. The Last Settlement Price shall be rounded to the nearest tick.
Expiry Date
Last business day of each contract month. In case domestic markets are closed for half day due to an official holiday, expiry date shall be the preceding business day.
Last Trading Day
Last business day of each contract month. In case domestic markets are closed for half day due to an official holiday, last trading day shall be the preceding business day.
Daily Price Limit
Base price is the price determined by the Settlement Price Committee on the day the relevant contract is introduced for trading, and used in calculating the daily price change limits. For the other days, base price is the settlement price of the previous day.
The daily price limit is set as +/-10% of the base price which is found by rounding the previous daily settlement price to the nearest price tick. If the price limits found by this method is not a valid price tick, for upper limit it is rounded up, while the lower limit is rounded down to the nearest price tick.
Margins
Clearing legislation shall be applied.
Exchange Rate of Dollar
The calculations related to this contract for converting the values in US Dollars to Turkish Lira are based on US Dollar buying rate announced by the Central Bank of the Republic of Turkey at 3:30 pm. If deemed necessary or in case US Dollar rate is not announced by CBRT, the exchange rate of Dollar may be updated using the exchange rates in the spot market.
