BRIEF INFORMATION
Natural Gas Futures Market Clearing and Settlement
With the Organized Wholesale Natural Gas Sales Market Regulation, the Central Settlement Agency is stated as “the institution from which services are received in the execution of the financial transactions between the market participants to be determined by this Regulation and which acts as the central clearing institution in accordance with the Capital Markets Law dated 06.12.2012 and numbered 6362”. Our Bank has been appointed as the Central Settlement Agency to provide cash clearing and collateral management services.
In this framework, our Bank serves as the central settlement bank to be used by the Market Operator and market participants in order to operate the collateral mechanism in the Natural Gas Futures Market and to ensure the continuous cash flow in the market by making.
The services offered to the Market by our Bank will be as follows:
• Carrying out cash clearing (invoice) transactions,
• Calculation of the default penalty within the framework of the rules to be determined by the
Market Operator regarding the defaulting market participant and informing the Market Operator
about it.
• Keeping the collaterals other than the letter of colleteral presented on behalf of the Market
Operator,
• Interest accrual for the cash TL collaterals.
• Valuation of collaterals
• If the participants fall below the required margin level determined by EXIST, margin call
information for collateral completion is transmitted to the participants.
