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It specifies legal grounds, who may trade, membership and authorization obligations, account and collateral requirements, and additional duties for repo and reverse repo activity. 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Exemptions exist for certain experienced roles and for those who participate in the practical training program on the computerized trading system.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},281647,1789973406,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":79,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":140,"read_time":47},1374404737137,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","REGULATION ON BONDS AND BILLS MARKET OF ISTANBUL STOCK  \nEXCHANGE  \nDate of Publication and Announcement on Official Journal: February 19, 1996 – Volume: 22559  \nPURPOSE 1  \nArticle 1 – The purpose of the establishment of the Bonds and Bills Market is to foster and encourage securities circulation between Market members and to ensure that investments made by investors in securities other than stocks are priced in a competitive market environment and are converted into cash any time desired.  \nLEGAL GROUNDS  \nArticle 2 – This Regulation has been issued by virtue of article 20 of the Regulation on Istanbul Stock Exchange. .  \nMEMBERSHIP REQUIREMENTS2  \nArticle 3 – The Central Bank of the Republic of Turkey, members of the Exchange, and Banks that have obtained authorization from the Capital Markets Board can execute trades on the Bond and Bill Market. Banks that are not a member of Istanbul Stock Exchange but have been authorized to execute trades on the Bond and Bill Market and their representatives are governed by all the arrangements that bind the members and members’ representatives.  \nAll market members willing to trade on the Market are required to sign the “Bonds and Bills Market Letter of Undertaking” that defines the general terms and the obligations of the market participants in a format prepared by Istanbul Stock Exchange and approved by the Capital Markets Board and to open a “Securities Custody Account” and a “Cash Account” in a Clearing Bank, Company or House to be designated, and to maintain a collateral equal to the trading limit the type and amount of which is to be determined by the Exchange, and to fulfill and perform all other obligations stipulated by the Exchange for the execution of transactions. Market members willing to execute repo – reverse repo transactions are also obliged to obtain a certificate of Authorization from the Capital Markets Board and to sign a “Repo-Reverse Repo Letter of Undertaking” in the format prepared by Istanbul Stock Exchange and approved by the Capital Markets Board.  \nIntermediary institutions authorized to act as a market maker under the regulations of the Undersecretariat of Treasury are liable to prove and document such authorization.  \nQUALIFICATIONS OF MEMBER REPRESENTATIVES3  \n1 It was amended with the Regulation published on the Official Journal dated 24 .01. 1997, Volume 22887. The preamendment text is attached.  \n2 First the content of the article was amended with the Regulation published on the Official Journal dated 14.06.1996, Volume 22666, and then the heading and content of the article was amended with the Regulation published on the Official Journal dated 24.01.1997, Volume 22887. The last paragraph of the article was inserted by virtue of the Regulation published on the Official Journal dated 08.08.2000, Volume 24134. The preamendment texts are attached.  \nArticle 4 – Persons meeting the qualifications and fulfilling all the conditions specified in Article 11 of the Regulation on Istanbul Stock Exchange are entitled to serve as a representative in the Bonds and Bill Market provided that they obtain the certificates of the education programs, participation in which is deemed mandatory by the Exchange.  \nThe certification requirement mentioned above does not apply to persons who have worked atthe Capital Markets Board, the Central Bank of the Republic of Turkey and Istanbul Stock Exchange in a position requiring specialization or at higher positions with good references for a minimum period of three years, or who have worked in banks as a general manager, assistant general manager or securities manager for a minimum period of three years, or who have worked for a member intermediary institution for a period of five years and have served as a general manager for at least three years of the said period or have served as a chairman or managing member of the board of directors for at least three years, or who have passed the Capital Market Activities Basic Level or A","cbCaitPSLQhMQu6m","https://ap.wps.com/l/cbCaitPSLQhMQu6m","pdf",70824,13,"English","# Purpose\n## Article 1 - Market establishment purpose\n# Legal Grounds\n## Article 2 - Issuance basis\n# Membership Requirements\n## Article 3 - Authorized participants and obligations\n# Qualifications of Member Representatives\n## Article 4 - Certification requirements and exemptions\n# Traded Securities\n## Article 5 - Eligible instruments\n# Transaction Types\n## Article 6 - Primary market and repo transactions","[{\"question\":\"What is the purpose of establishing the Bonds and Bills Market?\",\"answer\":\"It is designed to foster and encourage securities circulation between market members and to ensure that investments in securities other than stocks are priced in a competitive environment and can be converted into cash at any time desired.\"},{\"question\":\"Who is allowed to execute trades on the Bonds and Bills Market?\",\"answer\":\"The Central Bank of the Republic of Turkey, exchange members, and banks authorized by the Capital Markets Board can execute trades. Authorized non-member banks and their representatives must follow arrangements binding market members.\"},{\"question\":\"What are the main requirements for member representatives to work in the market?\",\"answer\":\"Persons meeting conditions in the Istanbul Stock Exchange regulation may serve as representatives if they obtain mandatory education program certificates. Exemptions exist for certain experienced roles and for those who participate in the practical training program on the computerized trading system.\"}]","Regulation on Bonds and Bills Market of Istanbul Stock Exchange - Purpose and Membership Requirements | PDF",1789567151]