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Takasbank

Takasbank (Istanbul Clearing, Settlement and Custody Bank) provides clearing, settlement, custody and central counterparty services for Borsa Istanbul markets and operates TEFAS and BEFAS. Takasbank ensures that cash and securities change hands between counterparties after trades on the exchange.
Contents
  1. 1.Key points
  2. 2.How it works
  3. 3.Interpretation
  4. 4.Pitfalls
  5. 5.Official sources
  6. 6.Frequently asked questions

Key Points

  • In markets such as the equity market, VIOP and the debt securities market it acts as central counterparty, becoming the seller to every buyer and the buyer to every seller.
  • Central clearing limits the damage to one side when the other fails to meet its obligations and strengthens confidence in the market.
  • Takasbank’s guarantee covers the settlement process; it does not remove an investment’s price risk.

How It Works

as central counterparty Takasbank collects collateral from members, marks positions to market daily and issues margin calls when collateral falls short. It also operates TEFAS, where investment funds are traded, and BEFAS for pension funds.

Interpretation

Central clearing limits the damage to one side when the other fails to meet its obligations and strengthens confidence in the market.

Pitfalls

Takasbank’s guarantee covers the settlement process; it does not remove an investment’s price risk. Equity trades settle at T+2, so sale proceeds cannot be withdrawn before then.

Official Sources

Official regulation and sources the definition is based on.

Pages Where This Term Appears

Related Terms

Frequently Asked Questions

Takasbank (Istanbul Clearing, Settlement and Custody Bank) provides clearing, settlement, custody and central counterparty services for Borsa Istanbul markets and operates TEFAS and BEFAS.

as central counterparty Takasbank collects collateral from members, marks positions to market daily and issues margin calls when collateral falls short. It also operates TEFAS, where investment funds are traded, and BEFAS for pension funds.

Prepared by: Yatırımcı.AI Research TeamLast reviewed: Method: MethodologyEditorial policy