Settlement dates for Borsa Istanbul transactions have been adjusted due to the upcoming Victory Day holiday on August 30th, affecting trades this week.
The settlement of today’s transactions at Borsa Istanbul will be postponed to Monday due to the Victory Day holiday on August 30, which falls on a Friday this year. This adjustment in the trading schedule is necessary to accommodate the official holiday, impacting the normal operations of the stock exchange.
Impact of the Victory Day Holiday in Turkiye
Victory Day, an important national holiday in Turkiye, commemorates a key victory in the Turkish War of Independence. With the stock market closed on this day, Borsa Istanbul has announced changes to its usual trading settlement schedule.
- Pay Piyasası (Equity Market) Adjustments:
The settlement for transactions dated August 28, Wednesday, will now be completed on September 2, Monday. Meanwhile, transactions dated August 29, Thursday, will be settled on September 3, Tuesday. - VIOP Market Adjustments:
Additionally, the Futures and Options Market (VIOP) will see the end-of-month settlement for index and equity futures contracts occur on August 29. The T+2 physical delivery for these contracts will be processed on September 3.
What This Means for Traders
For investors and traders, this adjustment means that any transactions conducted during this week will not be finalized until the start of the following week. It’s important to be aware of these changes, particularly for those managing portfolios with time-sensitive strategies.
- Trading Strategy Considerations:
Investors should consider the implications of these changes when planning their trading strategies for the week. The delay in settlement may affect liquidity and the timing of capital allocation. - Market Activity:
Market activity could see a slight dip in volume as traders adjust their positions in anticipation of the holiday closure and delayed settlements.
Key Dates to Remember
Here’s a summary of the critical dates to keep in mind:
- August 28, Wednesday: Settlement on September 2, Monday.
- August 29, Thursday: Settlement on September 3, Tuesday.
- August 29, Thursday (VİOP contracts): T+2 physical delivery on September 3, Tuesday.
With these changes, Borsa Istanbul aims to ensure that all transactions are settled in a timely manner despite the holiday interruption. Traders and investors should adjust their strategies accordingly to navigate this brief disruption.
Source: Trthaber / Prepared by Irem Yildiz