New Changes To CCP Regulations

Capital Markets Board of Turkey published Amendment Regulation re. Istanbul Takas ve Saklama Bankası A.Ş. Central Counterparty Regulation (“CCP Regulation”) and Amendment Regulation re. General Regulation on Incorporation and Working Principles of Central Clearing Agencies (“General Regulation on Central Clearing Agency”) in the Official Gazette dated 30 July 2022 and numbered 31908.

With both Amendment Regulations, the following amendments have been introduced.

1. Takasbank acting as a central counterparty (“CCP”) is now authorised to conduct the transactions in the markets of Borsa Istanbul (Istanbul Stock Exchange) where Takasbank is eligible to provide CCP service and for the same purpose, Takasbank is also exempt from the CCP membership requirements brought under the same Regulation, as per new sub-article 52/A under CCP Regulation.