TRL PAYMENT AND TRANSFER

Local Currency Payments and Transfers

Payment and transfer of Local Currency transactions take place as part of the clearing, settlement and collateral and credit services provided by Takasbank.

Within this framework, brokerage houses;

Can transfer cash from their accounts held with Takasbank to their accounts with Takasbank, or to the accounts of other brokerage houses, in an electronic environment using their own terminals or by delivering written instructions.

Using  Takasbank Electronic Transfer System (TETS) and by sending Electronic EFT Instructions, they can conduct EFT transactions from their free accounts at Takasbank to their own accounts at other banks or to the accounts of their customers.

Within the scope of local currency payments and transfers; Takasbank provides services to its members via the CBRT Payment Systems (EFT, EST, RPS, TENDER SERVICES) and carries out EFT services according to the "Operating Rules" of the Central Bank of the Republic of Turkey.

Takasbank Electronic Transfer System (TETS)

Takasbank Electronic Transfer System (TETS) provides access to the brokerage houses that cannot directly be affiliated with the payment systems to enter the CBRT payment systems (RPS/TENDER SERVICES/EFT, EST), and enables them to effect securities and cash transfers. The system also ensures that debts and receivables arising from transactions conducted by market participants can be paid without loss of value date in a reliable and fast manner.

TETS enables brokerage houses to perform Turkish lira fund and asset transfer transactions with Takasbank, other brokerage houses andlocal banks in a reliable, fast and economic manner and to make account reconciliation transactions in connection with these transfers on an electronic computer environment enabling the production of necessary documents and reports.

Transactions Performed through TETS

Brokerage houses, through TETS, can;

  • Effect Turkish lira funds and securities transfers. Monitor reconciliation transactions related to transfers in an electroni̇c environment.
  • Participate in treasury auctions and open market transactions.
  • Send and receive information messages about the market.

Takasbank Electronic Transfer System (TETS) Membership Requirements

Brokerage houses wishing to participate in the TETS system are required to carry out the following procedures.

  • Apply in writing for inclusion in the TETS system,
  • Sign the "Takasbank Electronic Transfer System Commitment"
  • Pay  10,000-Turkish lira membership participation fee,
  • Payment by TETS members of the of 2,000-Turkish lira "Annual Maintenance Fee" plus BITT starting with the year following the year of membership.

 

TETS Working Hours

Cut-off time for payment messages entry and verification 5 p.m.
Cut-off time for tender bid messages 1:15 p.m.
Cut-off time for tender bid confirmation messages 1:30 p.m.
Cut-off time for EST (Electronic Securities Transfer) confirmations 5:15 p.m.

On half-business day holidays, Takasbank notifies TETS members about working hours after the announcement by the CBRT of the closing time.

Instructed EFT Transactions

Brokerage houses that are not members of the TETS (Takasbank Electronic Transfer System) can forward their EFT transaction instructions in either written or electronic form.

The cut-off time for written and electronic instructions is 4:15 p.m. and the last verification time is 5 p.m.