Underlying Asset

GBP/USD Parity

Contract Size

1,000 GBP

Price Quotation and Minimum Price Tick

Prices shall be quoted in terms of US Dollars per 1GBP significant to four decimals (1.2667 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 starting from the end of T day, while profits are added to the accounts by T day.

Daily Settlement Price

The daily settlement price used for updating accounts following the end of the normal session is calculated as follows and rounded to the nearest price tick:

a) The weighted average price of all the trades performed within the last 10 minutes of the normal session,

b) If less than 10 trades were executed in the last 10 minutes of the normal session, the weighted average price of the last 10 trades performed during the normal session,

c) If less than 10 trades were performed during the normal session, the weighted average price of all the trades performed during the normal session,

d) If no trades were performed during the normal session, the settlement price of the previous day, will be determined as the daily settlement price.

If the daily settlement price cannot be calculated in accordance with the above methods by the end of the normal session, or it is decided that 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 reports 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.

Expiry Day ( Final ) Settlement Price

Indicative GBP/USD Cross Rate announced by CBRT at 15:30 on the last trading day. The Last Settlement Price shall be rounded to the nearest tick.

Last Trading Day

Last business day of the 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.

Base Price and 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 limits. For the other days, base price is the settlement price of the previous day.

Daily price limit is equal to ±10% of the base price determined for each contract. If the upper or lower limit calculated does not correspond to a price tick, the upper limit will be rounded to the lower price tick; and the lower limit, to the upper price tick.

Trading Hours

Continuous trading from 09:30 to 18:15 (local time).

Margins

Clearing legislation shall be applied.

Exchange Rate of Dollar

The calculations related to this contract for converting the values in US Dollars to TRY 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.