{"id":46243,"date":"2015-11-05T10:10:23","date_gmt":"2015-11-05T07:10:23","guid":{"rendered":"https:\/\/www.enerjigazetesi.ist\/?p=46243"},"modified":"2015-11-05T11:40:24","modified_gmt":"2015-11-05T08:40:24","slug":"is-yatirim-ve-ak-yatirim-viopta-elektrik-vadeli-islem-sozlesmelerinde-piyasa-yapici-oldular","status":"publish","type":"post","link":"https:\/\/www.enerjigazetesi.ist\/en\/is-yatirim-ve-ak-yatirim-viopta-elektrik-vadeli-islem-sozlesmelerinde-piyasa-yapici-oldular\/","title":{"rendered":"(Turkish) \u0130\u015f Yat\u0131r\u0131m ve Ak Yat\u0131r\u0131m V\u0130OP\u2019ta Elektrik Vadeli \u0130\u015flem S\u00f6z. Piyasa Yap\u0131c\u0131!"},"content":{"rendered":"<p class=\"qtranxs-available-languages-message qtranxs-available-languages-message-en\">Sorry, this entry is only available in <a href=\"https:\/\/www.enerjigazetesi.ist\/tr\/wp-json\/wp\/v2\/posts\/46243\" class=\"qtranxs-available-language-link qtranxs-available-language-link-tr\" title=\"Turkish\">Turkish<\/a>. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language.<\/p><p><\/p>\n<p style=\"color: #0a0a0a;\">Borsa \u0130stanbul V\u0130OP\u2019ta, T\u00fcrk Sermaye Piyasalar\u0131nda Ocak 2015\u2019te ilk defa uygulamaya ba\u015flanan gelir payla\u015f\u0131m\u0131na dayal\u0131 piyasa yap\u0131c\u0131l\u0131k program\u0131, pay vadeli, <a href=\"https:\/\/www.enerjigazetesi.ist\/wp-content\/uploads\/2015\/11\/B\u0130ST-696x385.jpg\"><img loading=\"lazy\" class=\"alignleft size-medium wp-image-46244\" src=\"https:\/\/www.enerjigazetesi.ist\/wp-content\/uploads\/2015\/11\/B\u0130ST-696x385-300x165.jpg\" alt=\"B\u0130ST-696x385\" width=\"300\" height=\"165\" srcset=\"https:\/\/www.enerjigazetesi.ist\/wp-content\/uploads\/2015\/11\/B\u0130ST-696x385-300x165.jpg 300w, https:\/\/www.enerjigazetesi.ist\/wp-content\/uploads\/2015\/11\/B\u0130ST-696x385-500x276.jpg 500w, https:\/\/www.enerjigazetesi.ist\/wp-content\/uploads\/2015\/11\/B\u0130ST-696x385-80x44.jpg 80w, https:\/\/www.enerjigazetesi.ist\/wp-content\/uploads\/2015\/11\/B\u0130ST-696x385.jpg 696w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>pay opsiyon, endeks opsiyon ve d\u00f6viz opsiyon pazarlar\u0131nda ba\u015far\u0131yla devam etmektedir.<span id=\"more-74058\"><\/span>\u00a0Yeni gelir payla\u015f\u0131m\u0131na dayal\u0131 piyasa yap\u0131c\u0131l\u0131k sisteminin devreye girmesiyle pay vadelilerde toplam i\u015flem hacmi ilk 9 ayda, ge\u00e7en sene ayn\u0131 d\u00f6neme g\u00f6re, 120 kat artarak 1,2 milyar TL\u2019ye, endeks opsiyonlar\u0131nda 3 kat artarak 2,1 milyar TL\u2019ye, DolarTL opsiyonlar\u0131nda ise 176 kat artarak 1,3 milyar TL\u2019ye ula\u015fm\u0131\u015ft\u0131r. Pay vadeli i\u015flem s\u00f6zle\u015fmeleri ile endeks ve DolarTL opsiyonlar\u0131nda yeni piyasa yap\u0131c\u0131l\u0131k modeliyle ula\u015f\u0131lan bu ba\u015far\u0131y\u0131, elektrik vadeli i\u015flem s\u00f6zle\u015fmelerinde de tekrarlamak amac\u0131yla bu modelin uygulanmas\u0131na karar verilmi\u015ftir.<\/p>\n<p style=\"color: #0a0a0a;\">Borsa \u0130stanbul V\u0130OP\u2019ta gelir payla\u015f\u0131m\u0131na dayal\u0131 piyasa yap\u0131c\u0131l\u0131k program\u0131na dahil edilen Elektrik Vadeli \u0130\u015flem S\u00f6zle\u015fmelerinde,\u00a0<strong style=\"font-weight: bold;\">\u0130\u015f Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e.<\/strong>\u00a0arac\u0131l\u0131\u011f\u0131yla Aksa Aksen Enerji Ticareti A.\u015e. ve Naksan Elektrik Enerjisi Toptan Sat\u0131\u015f A.\u015e.,\u00a0<strong style=\"font-weight: bold;\">Ak Yat\u0131r\u0131m Menkul De\u011ferler A.\u015e.<\/strong>\u00a0arac\u0131l\u0131\u011f\u0131yla ise Enerjisa Elektrik Enerjisi Toptan Sat\u0131\u015f A.\u015e. 2 Kas\u0131m 2015 tarihi itibariyle piyasa yap\u0131c\u0131 olmu\u015flard\u0131r. Elektrik Vadeli \u0130\u015flem S\u00f6zle\u015fmelerinde vade aylar\u0131 4 aydan 16 aya \u00e7\u0131kar\u0131lm\u0131\u015f, \u00f6zel emir pazar\u0131 minimum emir b\u00fcy\u00fckl\u00fckleri k\u00fc\u00e7\u00fclt\u00fclm\u00fc\u015f olup, ayr\u0131ca yeni kat\u0131lan piyasa yap\u0131c\u0131larla birlikte toplam 5 kurumun piyasa yap\u0131c\u0131 olmas\u0131, sekt\u00f6r\u00fcn risk y\u00f6netimini merkezi kar\u015f\u0131 taraf g\u00fcvencesiyle V\u0130OP\u2019ta yapabilme imkan\u0131n\u0131 art\u0131rm\u0131\u015ft\u0131r. Piyasa yap\u0131c\u0131l\u0131k, artan vade ay\u0131 say\u0131s\u0131 ve \u00f6zel emir pazar\u0131 minimum emir b\u00fcy\u00fckl\u00fcklerinin k\u00fc\u00e7\u00fclt\u00fclmesi sayesinde, Haziran 2015 ay\u0131ndan itibaren h\u0131zla y\u00fckselen i\u015flem hacminde daha da ivmelenen bir art\u0131\u015f beklenmektedir.<\/p>\n<p style=\"color: #0a0a0a;\">\u0130\u015flem sonras\u0131 a\u015fama (takas a\u015famas\u0131) \u00f6zellikle kar\u015f\u0131 taraf riski a\u00e7\u0131s\u0131ndan \u00f6nem arz etmektedir. Tezgah\u00fcst\u00fc piyasada i\u015flem yap\u0131ld\u0131\u011f\u0131nda kar\u015f\u0131 taraf\u0131n t\u00fcm kredi, s\u00f6zle\u015fme ve iflas riski \u00fcstlenilmektedir. Borsa \u0130stanbul V\u0130OP\u2019da i\u015flem g\u00f6ren t\u00fcm s\u00f6zle\u015fmeler ise, Takasbank\u2019\u0131n ilk ve tek olarak sermaye piyasalar\u0131m\u0131zda sadece V\u0130OP \u00fcr\u00fcnleri i\u00e7in Mart 2014 tarihinde hizmete ald\u0131\u011f\u0131, Merkezi Kar\u015f\u0131 Taraf g\u00fcvencesi alt\u0131ndad\u0131r. Bir ba\u015fka ifadeyle, Takasbank al\u0131c\u0131ya kar\u015f\u0131 sat\u0131c\u0131, sat\u0131c\u0131ya kar\u015f\u0131 al\u0131c\u0131 pozisyonundad\u0131r. B\u00f6ylece, i\u015flem asl\u0131nda Takasbank ile ger\u00e7ekle\u015ftirilir ve herhangi bir kar\u015f\u0131 taraf riski al\u0131nmamaktad\u0131r.<\/p>\n<p style=\"color: #0a0a0a;\">Ayr\u0131ca V\u0130OP Elektrik s\u00f6zle\u015fmeleri, tezgah\u00fcst\u00fc piyasaya g\u00f6re d\u00fc\u015f\u00fck i\u015flem maliyeti ile hizmet vermektedir. Bu maliyetlerden en \u00f6nemlisi, V\u0130OP\u2019ta damga vergisinin olmamas\u0131d\u0131r. V\u0130OP\u2019ta Elektrik s\u00f6zle\u015fmelerinde i\u015flem yapanlar, damga vergisi \u00f6dememektedirler. Tezgah\u00fcst\u00fcnde ikili anla\u015fma yapanlar ise y\u00fczde bire yak\u0131n oranda damga vergisini \u00f6demekle y\u00fck\u00fcml\u00fcd\u00fcrler. \u0130kincisi ise, arac\u0131l\u0131k giderlerinin V\u0130OP\u2019ta tezgah\u00fcst\u00fcne g\u00f6re \u00e7ok daha d\u00fc\u015f\u00fck olmas\u0131d\u0131r.<\/p>\n<p style=\"color: #0a0a0a;\">\u00d6zetle, kar\u015f\u0131 taraf riski almadan, damga vergisi \u00f6demeden, \u00e7ok d\u00fc\u015f\u00fck arac\u0131l\u0131k maliyeti ile V\u0130OP\u2019ta i\u015flem yap\u0131labilmektedir.<\/p>\n<p style=\"color: #0a0a0a;\"><strong style=\"font-weight: bold;\">Borsa \u0130stanbul V\u0130OP Grup M\u00fcd\u00fcr\u00fc Muammer \u00c7ak\u0131r<\/strong>\u00a0konuyla ilgili g\u00f6r\u00fc\u015flerini \u201cH\u00e2lihaz\u0131rda a\u011f\u0131rl\u0131kl\u0131 olarak tezgah\u00fcst\u00fc piyasalarda i\u015flem g\u00f6ren elektrik ticaretinin \u00f6n\u00fcm\u00fczdeki d\u00f6nemde merkezi takas g\u00fcvencesi veren V\u0130OP\u2019a do\u011fru ivmelenerek y\u00f6nelmesini beklemekteyiz. Bu ama\u00e7la, sekt\u00f6r\u00fcn risk y\u00f6netim ihtiya\u00e7lar\u0131na cevap verecek yeni \u00fcr\u00fcnler \u00e7\u0131karmaya devam edece\u011fiz. Di\u011fer \u00fcr\u00fcnlerde ba\u015far\u0131yla uygulad\u0131\u011f\u0131m\u0131z gelir payla\u015f\u0131m\u0131na dayal\u0131 piyasa yap\u0131c\u0131l\u0131k program\u0131na elektrik vadeli i\u015flem s\u00f6zle\u015fmelerini de dahil ederek, elektrik fiyat riskini y\u00f6netmek isteyen t\u00fcketiciler i\u00e7in de g\u00fczel bir imkan olu\u015fturduk.\u201d \u015feklinde ifade etmi\u015ftir.<\/p>\n<p style=\"color: #0a0a0a;\">Borsa \u0130stanbul V\u0130OP, paydan, d\u00f6vize, elektrikten, \u00e7eli\u011fe varan geni\u015f \u00fcr\u00fcn yelpazesiyle yat\u0131r\u0131mc\u0131lar\u0131n ve \u015firketlerin her t\u00fcrl\u00fc risklerinin y\u00f6netilmesinde merkezi kar\u015f\u0131 taraf g\u00fcvencesi ve artan likiditesi ile b\u00f6lgesinin tercih edilen risk y\u00f6netim platformu olma yolunda ilerlemeye devam etmektedir.<\/p>\n<p style=\"color: #0a0a0a;\">Kaynak:EnerjiEnstit\u00fcs\u00fc<\/p>\n<p><\/p>","protected":false},"excerpt":{"rendered":"<p>Sorry, this entry is only available in Turkish. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Borsa \u0130stanbul V\u0130OP\u2019ta, T\u00fcrk Sermaye Piyasalar\u0131nda Ocak 2015\u2019te ilk defa uygulamaya ba\u015flanan gelir payla\u015f\u0131m\u0131na dayal\u0131 piyasa yap\u0131c\u0131l\u0131k program\u0131, pay vadeli, pay opsiyon, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":46244,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[51,53],"tags":[26720,26085,26721,26087,23921,26722],"views":1159,"_links":{"self":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/46243"}],"collection":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/comments?post=46243"}],"version-history":[{"count":3,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/46243\/revisions"}],"predecessor-version":[{"id":46255,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/posts\/46243\/revisions\/46255"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/media\/46244"}],"wp:attachment":[{"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/media?parent=46243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/categories?post=46243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enerjigazetesi.ist\/en\/wp-json\/wp\/v2\/tags?post=46243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}