On Dec. 2, TUR Cust issued circular on blocking of repo securities.
TUR Cust issued circular providing details on the developments regarding blocking of repo securities in the preferred repo market for the duration of their maturity.
Follows TUR EXC Nov. 2024 amended debt securities market procedure, see #235511.
Cited TUR Cust Nov. 2010 letter 1014 saying securities receivables from transactions executed in TUR EXC debt securities market, in preferred repo market, are transferred to OSTH account of members in TUR CSD under SERB sub-account.
With the new changes, as also stated in TUR EXC. letter of Nov. 2024, the securities delivered to TUR Cust on settlement date for repo transaction will be held in reverse repo member’s blocked sub-account until settlement under the clearing obligation.
The detailed changes are attached are attached to the TUR Cust circular.
Effectiveness
Amendments are intended to become effective on Dec. 23, 2024.
