Loss 2 billion lira – Business-Life News

Damage exceeded 2 billion lira

In the middle of July, a few big players in Borsa Istanbul, by taking high risks in the Futures Market and making purchases in the spot market at the same time, and the stock market rose 59% in this process, ended with the index losing 14% blood in the next 2 weeks. In the banking index, where the transactions were concentrated, the 1.5-month gain of 150 percent was withdrawn at the same rate due to the deterioration of the risky system established. While the transactions made by the players using mostly loans revealed that there are deficits that will lead to manipulation in VIOP, after the crisis, the opinion that the loss incurred as a result of the meetings held by the Capital Markets Board (CMB) Borsa İstanbul, ministry officials and intermediary institutions for days, gained weight. . Afterwards, it is noted that public institutions stepped in and a consensus was reached to close legal gaps so that similar incidents would not occur in the future. It is also among the information received that the institutions suggested that the stocks with risky transactions be closed for a few weeks, but that the public administrators did not accept this request. It is stated that if the shares of these companies were closed and the damage was tried to be repaired, the loss would have been much less.


Brokerage houses, on the other hand, tried to cope with the loss by creating resources from different fields against the problems that emerged as a liquidity problem at the beginning. It has been calculated that the loss incurred due to the transactions made by the customers in the brokerage houses is between 1.5 and 1.8 billion liras. In addition to this loss, it is stated that the players who started the movements in the shares have a loss of approximately 500 million liras, excluding the losses (the loss from their profits) after the gains. This amount represents the collateral deposited by the players in return for the position they have taken. Thus, the loss of blood as a result of these extraordinary transactions made by intermediary institutions and players will be between 2 and 2.3 billion liras.


As a result of the brokerage houses’ reconciliation with arbitrage funds before the last day of the transactions, which is September 30, and swallowing the losses incurred so far in order to avoid further damage, the situation is returning to normal in many stocks, while 10 percent daily blood loss continues in 2 stocks. While there are indications of these settlements in the VIOP contracts of many stocks, experts state that it is not yet known whether there are other investors directed by these people other than the players whose names have been mentioned in the press, and the real picture may emerge on 2-3 October after the contract completions that ended on September 30.


On the other hand, the low interest policy implemented by the economy administration and the suppression of the exchange rate by the public, the only way to be shown to the citizens, the stock market, which is the only way to be shown to the citizens, is once again damaging the image of the stock market, which was already distorted due to what happened in the previous periods, worries capital markets experts. Considering the fact that all developed economies have achieved this economic development through capital markets, we can say that we have sacrificed an important opportunity that has been caught recently, to the greed of a few people. If these players had not taken huge risks, on the other hand, if the regulatory and supervisory institutions had acted on time for the transactions that even the deaf sultan had heard, the process that started in July would have been much healthier and would have been a real alternative by removing the citizen from the foreign exchange-interest spiral. On the other hand, in the next period, this development would add value to the stock market and encourage better companies to go public. Thus, while allowing companies and the economy to develop and grow, an important step would have been taken towards reaching a more sustainable economy by spreading the capital to the base. Of course, there is no obstacle to getting back on the road after the wounds are healed. The blessings of growth by developing capital markets still await Turkey.