CENTRAL COUNTERPARTY (CCP)
In the central counterparty practice; Takasbank commits to complete the clearing and settlement for markets and capital market instruments through open offer, novation or another legally binding method by acting as buyer against seller and seller against buyer. The risks that Takasbank is exposed to, arising from services that Takasbank provides as a CCP are safeguarded through collaterals, guarantee fund and amount allocated from Takasbank’s capital.
Based on the legal framework provided by the new Capital Market Law No.6362 which came into force on 30.12.2012, Takasbank initiated central counterparty services on 02.09.2013 for the Securities Lending Market operated by itself and subsequently took the same function in the Organized Derivatives Market on 03.03.2014, in the Money Market on 14.10.2016 and in the Equities Market on 19.06.2017 all of which are operated by BİAŞ. Takasbank is planning to offer CCP service for Debt Securities Market operated by BİAŞ in 2018. In line with the implementation of technological infrastructure transformation carried out within the framework of strategic partnership between BİAŞ and NASDAQ, the CCP services are running on BISTECH platform for derivatives and equities and debt securities will be covered in the same platform.
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