The Capital Markets Board of Türkiye (the “CMB”) has extended the short sale prohibition on April 25, 2026 until the end of trading on May 8, 2026.
Following the geopolitical tensions and armed conflicts across the Middle East, the CMB implemented various measures in response to increased market volatility. With the recent extension, the following measures will remain in effect until the end of trading on May 8, 2026 (CMB Resolution, April 25, 2026, No: 27/807).
(1) The CMB prohibited short sale transactions from being carried out on the Borsa Istanbul Equity Market. Positions that are opened and closed within the same trading day without explicitly selecting the short sale option are also subject to the short sale prohibition.
(2) CMB reduced the equity maintenance ratio to 20%. The ratio for margin trading transactions was set as 35% with Article 17 of the Communiqué on Margin Trading, Short Sale, and Lending and Borrowing of Capital Market Instruments (Serial: V, No: 65).
To discuss the impact of this regulation further, please contact our Managing Partner, Yalçın Özge Okat (yookat@okatlaw.com).
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