Borsa Istanbul has announced the implementation of the up-tick rule for short selling following a 2% movement in the BIST 100 index.
According to a statement published on the Public Disclosure Platform (KAP), the rule was activated after the BIST 100 index recorded a 2% change at 16:19:40.
The announcement stated:
“As of 16:19:40, due to a 2% change in the BIST 100 index, the up-tick rule will be applied to all securities eligible for short selling in the Equity Market until the end of the trading session.”
Under the up-tick rule, short sales can only be executed at a price higher than the last transaction price, aiming to prevent downward price pressure during periods of increased volatility.
Source: Bloomberght/ Prepared by: İlayda Gök