Recent Developments
The Capital Markets Board (“CMB“) did not extend the short selling ban and the flexibility of the maintenance margin ratio in transactions on credit brought with its announcement made pursuant to the resolution dated 1 March 2026 and numbered 11/417 (“Announcement“).
The CMB had introduced these provisions to be effective until the end of the session on 6 March 2026. It then extended the effective period with subsequent resolutions adopted during the following period. The effective period was last extended until the end of the session on 26 June 2026, with the announcement made pursuant to the CMB’s resolution dated 13 June 2026 and numbered 36/1097.
What’s New?
With the expiration of the effective period, the regime prior to the Announcement is now reinstated. Accordingly, the following will apply:
- The announcement made pursuant to the CMB’s resolution dated 5 December 2024 and numbered 62/1863 regarding the short selling ban on the Borsa İstanbul A.Ş. (“BIST“) equity markets is reinstated. Accordingly, the short selling ban on shares included in the BIST-50 index is lifted.
- The practice whereby brokerage firms could apply a minimum maintenance margin ratio of at least 20% for transactions on credit has ended. Thus, the minimum maintenance margin ratio must be applied at 35% pursuant to the applicable law.
