Futures and Options (Derivatives)

• In Derivatives contracts, the kind, amount and maturity of underlying assets are specified and stated as standard.
• They are traded in an organized exchange. In Turkey, they are under guarantee of Takasbank (Settlement and Custody Bank) by margin system and via BIST (Borsa Istanbul) Derivatives (Futures and Options) Market. If you wish to trade, you are under obligation to deposit the margins determined on contract basis.
• They can be traded until the end of maturity. Position is closed at the end of maturity. End-of-maturity settlement method for equity futures and equity option contracts is physical delivery, while end-of-maturity settlement method for all other futures (derivatives) contracts is cash settlement.
• Profit and loss are calculated on daily basis, and reflected into your related account.
• Futures markets are markets wherein economic or financial indicators, capital market instruments, commodities, precious metals or currencies of a predetermined description, amount and price may be bought or sold via electronic media at a future date.
• A derivatives account may be opened via our branches and Garanti BBVA Mobile/Internet Banking

Contracts traded in Derivatives Market

Equities, equity indices, currencies (Dollar/TL, Euro/TL, EUR/USD, Rouble/TL, Yuan/TL), gold, commodities, electricity futures contracts and similar other instruments may be traded in the Derivatives Market.

• Leverage Effect: In Derivatives Market, leveraged transactions allow the opening of a larger position with a low margin.
• Two-Sided Trading Opportunity: In Derivatives (Futures and Options) Market, investors have the opportunity to make profit both while prices increase, and during fall of prices.
• Tax Advantages: No withholding tax is applied on Index Contracts and Single-Equity Based Contracts traded in Derivatives (Futures and Options) Market. Rate of withholding tax is 10% for earnings from contracts other than Equity and Equity Index based contracts. Rate of taxation on earnings of corporate investors is 0%. Please click for taxation of futures contracts.
• Portfolio Diversity: Contracts in Derivatives (Futures and Options) Market provide the portfolio managers with the opportunity to diversify their portfolios and to effectively distribute their risks to alternative investment instruments.
• Hedging: Futures contracts provide the producers, importers, exporters, investors and the whole real sector with the opportunity of hedging against interest, currency and price risks.
• Investment of Margins: The amounts of margin transferred by you in TL for purchasing a Derivatives contract are invested by Takasbank.

*We, as Garanti BBVA, are offering such services as submission to Intermediary Institution (Garanti BBVA Yatırım) of Customer Orders in regard to capital market instruments (Derivatives and Equity Market trading transactions) permitted for order submission purposes by the Capital Markets Laws and Regulations and as keeping the customers informed about results of said orders (“Order Submission Services”).

Acting only as an Intermediary for Order Submission, the liability of Garanti BBVA under “Order Submission Service” is limited only by submission of the Customer’s order to Intermediary Institution accurately and as soon as possible, and keeping of one copy of each of the documents and records specified by the Capital Markets Laws and Regulations, and it is the responsibility of Intermediary Institution (Garanti BBVA Yatırım) to execute the orders.