May 21, 2019 / 8:51 AM / a month ago

Turkey says settlement delay to prevent unjust harm to market

ISTANBUL, May 21 (Reuters) - Turkey’s BDDK banking watchdog on Tuesday said its move to delay settlement on foreign-currency purchases of more than $100,000 aims to prevent “unnecessary and unjust harm” to the market, particularly by high-frequency traders.

The BDDK said the settlement delay does not apply to corporates or individuals demanding less than $100,000.

A BDDK letter sent to banks on Monday said the settlement date for FX purchases by individuals of more than $100,000 - or equivalent in other currencies - will be the following day. (Reporting by Ali Kucukgocmen and Daren Butler; Editing by Jonathan Spicer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below