Organized Natural Gas Market 

Takasbank provides cash settlement and collateral management services to the Organized Natural Gas Market operated by Energy Exchange Istanbul (EXIST).

“Organized Natural Gas Market Regulation” has been published in the Official Gazette dated March 3, 2017, No. 30024. In accordance with the Regulation, Takasbank has been authorized as the central settlement corporation to be used by the Market Operator and market participants for the purpose of operating the collateral mechanism, ensuring payments on a timely and accurate manner and maintaining continuous cash flow in the Organized Natural Gas Market.

Functions of the Organized Natural Gas Market can be summarized as below:

- Providing a balancing mechanism to the market participants
- Providing a balanced system to the System Operator
- Additional natural gas trading venue for market participants besides bilateral contracts
- Formation of reference price for natural gas markets
- The services offered to the Organized Natural Gas Market by Takasbank are as below:

Collateral Management Services

- Safekeeping of all collaterals other than the letter of guarantee type of collaterals presented to the name of the Market Operator
- Interest accrual for the cash collaterals
- Valuation of collaterals
- Margin call to the participants

Cash Settlement and Default Management Services

- Carrying out cash settlement (advance & invoice) transactions
- Calculation of default payment for the defaulting market participants within the terms specified by Market Operator and informing Market Operator accordingly