Turkey: Changes to settlement process following BISTECH implementation - Update

27.05.2016

Note: Following further market developments, this announcement, originally published on 27 October 2015 and updated on 23 November 2015 has been updated to reflect that BISTECH will reinstate partial settlement on 30 May 2016 (with no change to Clearstream Banking's settlement services, which do not include partial settlement services for this market). Changes have been highlighted.

Clearstream Banking1 would like to inform customers that, effective

30 May 2016

partial settlement (that has not been available between 30 November 2015 and 27 May 2016) will be reinstated in the Turkish market.

This change is a result of phased upgrades to the Borsa Istanbul (BIST) market platforms and systems under the name BISTECH (technology) and within the framework of a strategic alliance agreement between BIST and Nasdaq OMX Group. The initial migration date to BISTECH in BIST equities market trading, clearing and settlement platforms was 30 November 2015, with additional phases being scheduled in 2016.

Impact on customers

Customers are requested to ensure that they consider the above change when instructing settlement trades in the Turkish market.

Customers are reminded that Clearstream Banking and its Depository Türk Ekonomi Bankası (TEB) do not settle transactions partially on the Turkish market. Customers wishing to split a given external transaction into different parts must cancel the original instruction and replace it with new instructions.

Further information

For further information, customers may refer to the Creation Link Guide – Turkey or contact Clearstream Banking Client Services or their Relationship Officer.

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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248.