17 SEPTEMBER 2019

Borsa İstanbul

30th November 2015

BISTECH Transformation Program will be implemented in two phases.

Within the first phase of “Transformation through Technology Program” called BISTECH, Borsa İstanbul has today launched the Equity Market Trading System, including the environmental systems of settlement, surveillance and risk management.

Within the scope of the first phase of BISTECH project realized in cooperation with NASDAQ, Borsa İstanbul will hold a single session from now on. At midday, continuous trading will be paused for one hour, while order collection at single price will continue.

Contrary to the previous practice, there will be no bulletin for the first session. Base price and price margins will be calculated once in the beginning of the day and will be valid for the whole day.

On the other hand, price margin will be 20% on a daily basis instead of 10% for the session.

With the launch of BISTECH project, during the order collection in the opening, mid-day single price and closing, and all single price sections of the session, a balance price will be calculated and announced. Margin, trading book, open and all orders book files produced at the end of the first session will no longer be available.

Data dissemination will continue on an uninterrupted basis during the day. Since the market will be at order collection at single price phase between 12:30 and 13:25, neither the index nor equity prices will change.

With the launch of the first phase of BISTECH project, the opening section in the beginning of the second session will no longer be held, and following the midday single price practice, the session will continue with continuous auction system as from 13:30. Orders that remain unmatched in the order book by midday can be modified or cancelled during the order collection at single price at midday.

In the case of public offerings realized within the framework of primary market transactions, matching will be performed at 12:40 instead of 12:10, and as of the first phase of the transformation, bulletin and margin, trading book, open and all orders files will be created after 17:40.

Such modified practices should be considered in the news and comments regarding the markets upon the launch of the first phase of BISTECH project.