• Trade Reports

These transactions refer to trades in electronic warehouse receipts (EWRs) that are agreed upon directly between the buyer and the seller outside the Turkish Mercantile Exchange (TMEX). The related order entries, including price, quantity, and counterparty information, are submitted to TMEX through Commodity Market Intermediary Institutions (CMIIs). Unlike regular trades, these orders are not entered into the standard order book. Instead, they are processed as trade report transaction notifications. Once the submitted orders pass the required checks, they are matched upon counterparty approval and converted into a finalized transaction. Following this confirmation, the transaction becomes subject to cash and/or EWR settlement in accordance with TMEX procedures.

• Trade Report Types

1. UNCONDITIONAL TRADE REPORT: In this type of trade report transaction, no price or quantity conditions are imposed by TMEX. The buyer and seller may freely submit their orders without any price or quantity limitation.

Example: Unconditional Trade Report Order Submission:

2. ADVANCE / OFFSET TRADE REPORT: This type of trade report transaction applies to cases where advance payments previously made by the EWR buyer to the EWR seller outside TMEX are offset against the transaction value and subsequently become subject to settlement. At the time the order is submitted, a cash block is placed on the net cash amount, calculated by deducting the advance payment from the total transaction value. For orders submitted under an advance/offset trade report transaction, the following information should be entered: Offset amount, which may be up to the maximum transaction value. During the settlement stage, the net cash amount, after deduction of the advance payment, is credited to the seller’s account in accordance with TMEX settlement procedures.

Example: Advance / Offset Trade Report Order Submission:

3. GRANT TRADE REPORT: In grant trade report transactions, the purchase amount payable by the buyer to the seller is not settled in cash. Instead, payment is made outside TMEX, in accordance with the agreement between the parties, in the form of another commodity (e.g. flour against wheat). Accordingly, cash clearing is not performed for these transactions; however, EWR clearing is executed in line with TMEX procedures.

Example: Grant Trade Report Order Submission:

4. BARTER TRADE REPORT: A barter trade report is a type of transaction in which the parties fulfil their payment obligations by selling and/or purchasing a different EWR, rather than making a cash payment for the purchase or sale of an EWR. In each transaction, the obligation is settled in the form of EWR. Accordingly, no cash clearing is performed in this type of transaction. For this reason, an offset amount equal to the transaction value is submitted to TMEX together with the order.

Example: Barter Trade Report Order Submission: