Transaciton Executes in all Euro / Ons Values
Euro / Ons values executed between T+0 – T+1 times values have given possibility in all values until T+9 time.

Principal Execute Changes in Precious Metals Lending Market
Session times have been determined between 9:45 am – 5:30 pm in Precious Metals Lending Market and all 360 days limitted roll over transactions have been cancelled.

Featuring the Weighted Average Costs in Bulletins for All Values.
Featuring all costs between T+0 – T+5 times values have been started to featured in all values until T+9 time.

Featuring Istanbul Gold Exchange WAP Page Services
Address of wap.iab.gov.tr wap page has been featured fort he usage of mobile devices after the new web page has been updated for Istanbul Gold Exchange. 

Featuring the New Updated Webpage
Address of http:// www.iab.gov.tr webpage has been updated within graphical interfaces and has started to featured with new views of Istanbul Gold Exchange Webpage.

Transition to Single Session
Session hours was set as 09:45 – 17:30 and so single session implemented.

• With the new practice, from T+0 to T+9 value date of transactions can be done between 09:45 – 15:30.  
•  Between 15:30 – 17:30 only from T+1 to T+9 value date of transactions can be done.
• Delivery of precious metals with T+0 value date must be done up to 15:30.

Amendment in Practice of Settlement Transaction by Transaction
Guarantee deposit for this kind of transactions which is 10.000 US$ was set as a minimum deposit amount. If the loss amount gets over the deposit that is put out by member, settlement transaction practice is prevented. If not that practice is kept.    

Amendment in Practice of Settlement Transaction by Transaction
The practice of settlement transaction by transaction was expanded from T+0 value date of transaction to all current value dates.  

Custody commission for investment funds and investment trusts
Custody commission practice has started for precious metals of investment funds and investment trusts that are kept in the Exchange vault. That commission is collected every end of the month and is 1 to ten thousand. It is calculated over average precious metals amount and average price. 

Transition to Turkish Lira
By January 1, 2009 Turkish Lira has started to use instead of New Turkish Lira on Electronic Bourse System.

Revision on 2nd session hours
The trading hours of 2nd session of Precious Metals Market was changed. New trading hours for 2nd session is 13:30 – 17:30.

Amendment in Trading Rules of Precious Metals Lending Market
Roll over facility for maturing position in the Market was provided.  Conditions for roll over as follows:

• Written approval of parties of the transaction,
• No maturity request over 1 year for roll over,
• Doing roll over transaction at the maturity day of position,
• No change of the transaction component except maturity and interest rate.

Precious Metals Market Index published
Together with the Gold Index, Precious Metals Market Index that is included gold, silver and platinum prices for reflecting volatility in the Market was launched.  

Clearing facility in session hours for the Lending Market
Clearing opportunity was given to members provided that lenders delivered their precious metals to the Exchange vault in Market’s session hours. In such a case borrower of precious metals in the Market can take their precious metals before the end of the session.

Extension of  2nd session hours
Precious Metals Market 2nd session hours ending time was changed from 17:15 to 17:30. Therefore starting time of internet session was amended to 17:45.

Amendment in Trading Rules of Precious Metals Lending Market

1. By 16:30 (ending time of the Market’s session) margin calls should be fulfilled. If not default occurs.
2. Maturity date can be moved back provided that two parts of the transaction give mutual agreement on it.
3. Letter of credit based on YTL is accepted 100 % as a deposit. 10 % discount for the letter was eliminated.  

Reference Price
With the object of using updated prices in the Electronic Exchange System the reference price was launched. The reference price that is average of all prices at T+0 maturity is calculated with using TCMB exchange rate and worldwide accepted conversion rates.       

Amendment in Pre-session Transaction Hours
Pre-session transactions were included in the internet session. Exchange fee for the internet session transactions is 1.5 to ten thousand.    

Compulsory incorporation arising from Precious Metals Credits of banks was abolished. 
According to the Communiqué about Preservation of the Value of Turkish Currency Numbered 32 (2008/32/35) compulsory incorporation arising from Precious Metals Credits of banks was abolished.

IGE File Plan Published
Within the framework of the Law about Right to Information, IGE File Plan was published. 

Amendment in Daily Valuation System in the Precious Lending Market
USD/ounce price was started to use in daily valuation system in the Market instead of New Turkish Lira.

Facility of settlement transaction by transaction
In case of buying and selling with the same currency, amount and T+0 maturity in the same session, equal deposit to be required for that transaction is delivered.
Maturity days extended
Current maturity days from T+0 to T+5 extended to T+9.
 

New Exchange Bulletin Format Published
The Exchange Bulletin was rearranged by including Ore Transaction Rules and Non-standard Precious Metals Transaction Rules.

Diamond and Precious Stones Market floor was furnished

Internet Session
To provide an opportunity to trade precious metals out of the session hours for the Exchange members internet session was launched.  

E-mail practice for taking precious metals from the vault
Besides current delivery rules which is required written delivering statement, members are provided an opportunity to give delivering statements by e-mail to the Exchange. In this practice all members who want to use e-mail facility have to take an e-mail account form the Exchange.    

Turkey was admitted to the Kimberley Process Certification Scheme and Istanbul Gold Exchange was appointed as authority of import and export on behalf of Turkey

Partial delivery practice
Early delivery practice that was started in June 2004 was changed to partial delivery practice.

Authorization definition on Electronic Exchange System for the Exchange  personnel

Amendment in 1st Session Hours
Pre-session transaction and 1st session hours was changed as follows:
Pre-session 9:30 – 9:40
1st session 9:45 – 13:00

Remote Trading System was launched
Remote Trading System was implemented for Precious Metals Market. Thanks to this system members can trade on the Market connecting from their offices. 

Amendments in the Exchange Bulletin
Average Price in terms of maturities was included to the Bulletin

Fully Automated Electronic Session System Launched

Exchange Traded Fund practice was put into the Exchange System

Data query facility for YTL/kg on IGE web site

Gold Index Published
Previous gold index calculation was changed.

XML facility on IGE web site
Xml format was provided for data query and bulletin on the Exchange’s web site

 Notification of Ytl/kg price in web site.

For İnformation purpose, according to Central Bank of Turkish Republic rate of exchance gold price began to  issue.

Futures and Options Market was closed.

Began to Pre-Session transactions.

Before 1.st session Pre-Session transactions started for 15 minute

Custody Service of Settlement and Custody Bank Inc.

Clearing opportunity was given to members provided that lenders delivered their precious metals to the Exchange vault in market’s session hours. In such a case borrower of precious metals in the Market can take their precious metals before the end of the session.

Sending exchange  bulletin, through  e-mail  to members of  exchange

 Notification of Ytl/kg price in web site.

For İnformation purpose, according to Central Bank of Turkish Republic rate of exchance gold price began to  issue.

Futures and Options Market was closed.

Began to Pre-Session transactions.

Before 1.st session Pre-Session transactions started for 15 minute

Custody Service of Settlement and Custody Bank Inc.

Clearing opportunity was given to members provided that lenders delivered their precious metals to the Exchange vault in market’s session hours. In such a case borrower of precious metals in the Market can take their precious metals before the end of the session.

Sending exchange  bulletin, through  e-mail  to members of  exchange

Use of common hour system

 Hour synchronization of Transactions among Committee of Securities Exchange and Foundations of Capital Market was provided.

Plan of extraordinary condition work continuousness was created.

Within center of extraordinary condition practice which is  performed with Committee of   Securities Exchange the plan of exchange  work continuousness was prepared.

 The module of electronic exchange systems which is about 3 rd individuals custody service was added to EBS.

The new reporting module which is about data of import and putting in order members was added to EBS.

 Pourable of EBS was made according to all changes and annexations from openin date till today.

 At transactions in Precious Metal Market transactions steps(1 kg) and minimum transcation amount (5 kg) changed to 100 gr and it’s multitudes.

 Beginning from 1 January 2005 new principal measure in (Ytl) has been started over EBS.

Entrance of ore precious metal was made suitable in EBS.

Website of the Istanbul Gold Exchange was modernized suivant new technological changes.

 Clearing and Settlement principles changed in the Precious Metals Market in accordance with devoloping market conditions.

 After Emlakbankası and İş bankası, Denizbank started to work as a new clearing bank.

New commission rates began to use which had determined.

Working hours of 2nd session had been changed to 15:00 – 17: 15

Decree numbered 2002-32/27 about Protection of  the Value of Turkish currency was issued in the offical gazette.

In transaction of non- standard gold the amount of minimum transaction had determined as1 kg and began to use.

 Website of Istanbul Gold Exchange was modernized in accordance withnew technological changes.

 Due to DM changed it’s value and name in to euro formula of Gold Market Endex was changed.(Mark delete, Euro added)

Euro/ons price type had began to use in Features and Options Market.

Euro/ons price type had began to use İstanbul Gold Exchange’s Precious Metal Markets.

Communique about  gold, silver and platinum bonds was issued in the official Gazette.

 Due to members demand; in the precious metals lending market margin system had been changed.

 Amendment in to communique about goldstandards and refineries which are to effect transactions in Precious Metals Exchange.

Banking Regulation and Supervision Agency had issued that Banks could make import and  transaction in silver market and platinum market at 27.06.2001 in 24445 numbered offical newspaper. On the basis of this law of nature İstanbul Gold Exchange let banks who are members of exchange to make transaction and import at silver market and platium market in addition to gold market.

In consultation with the Turkish Treasury, Istanbul Gold Exchange had given rights to  their members  to  made  transactions in the name of entity and establishment  who aren’t member of Istanbul Gold exchange.

Starting of official registration transactions  of Precious Metals Lending Market.( connector  to banks)

 With a view  to bring in market more  efficiency new long hedge gold transaction agreement and assurance system had been changed.

 Precious Metals Lending Market opened.

In accordance with the members demand  board of directors changed   base of Precious Metal assurance system.

Quick bid enterance system came in to force in Features and Options Market. For incresing Market efficiency one module had added to EBS.

For using exchange  datas in web ambient  ‘ Administration Information System’ came in to force.

• According to requirement of market non- standard transactions have started.

• Website of Istanbul Gold Exchange was modernized suivant new technological changes.

 Istanbul Gold Exchange Precious Metals Lending Market’s public act issued offical newspaper whose number is 23775.

• Start transaction at silver and platinum market.

• Start transaction in terms  of DM/ons price type.

New ‘Istanbul Gold Exchange Regulation’ was issued in official gazette.

The system which  is elicitting  members contemporary information was   enhanced.

Communique about Standards and Refineries of Silver and Platinum was determined to make transactions in Istanbul Gold Exchange and it was issued in official gazette.

For corresponding market needs;Istanbul Gold Exchange allow their members to make their transactions between  T+0 – T+5 intervals.

Gold Market index was issued for first time.

 İstanbul Gold Exchange to moved away from service building Eminönü Yalıkışla to Karaköy Rıhtım road.

• All equipment to moved at weekend and at monday Session started without problems.

 For corresponding market needs; 2 nd senssion’ s hours were changed.

Datas of Istanbul Gold Exchange was issued on the base of week.

Amendment in the magrin ratio of Future and Options Market.

Openinig of Futures and Options Market

To put in circuit of EBS (Electronic Bourse System)
Only use in spot  module.

 To issue in offical newspaper Futures and Options Market’s public act.
Date of 18/10/1996 and  numbered  22791

New transaction and preservation commissions get in to force.

Change over to binary session practice.

Opening of İstanbul Gold Exchange.