Public Statement on Start of Operations in Turkish Mercantile Exchange
Turkish Mercantile Exchange Inc. (TMEX), founded in 2018 in order to ensure that Electronic Warehouse Receipts (EWR) are traded transparently and easily under the roof of a single exchange in trust, free competition and stability, commenced its operations on 26.07.2019.
As soon as TMEX commenced its operations, the power of Commodity Exchanges relating to exchange trading operations on EWRs has automatically terminated, and all EWR trades are started to be effected within TMEX.
EWR trading is conducted by investors through entering direct orders via “TMEX Trading Platform” at https://www.turib.com.tr/ internet site address without any brokerage.
When TMEX commences its operations, in order to continue their EWR trades, investors are required to be registered in TMEX. For registration of investors in TMEX, agency relations are established between Commodity Exchanges and TMEX. A list of Commodity Exchanges that may be used by EWR investors for registration purposes as a part of agency services is given at https://www.turib.com.tr/en/agencies internet address.
Settlement/Clearing of EWR trades will be conducted by institutions that are members of İstanbul Takas ve Saklama Merkezi A.Ş. (Istanbul Settlement and Custody Centre Inc.) assigned as Settlement Centre (Settlement Centre Members). Furthermore, all electronic registration operations of EWR trades to be effected by investors in TMEX will be carried out by Merkezi Kayıt Kuruluşu A.Ş. (Central Securities of Depository) authorized as Electronic Registry Firm. And intermediary institutions/banks authorized to serve as Settlement Centre Members in EWR trades in TMEX are listed at https://www.turib.com.tr/en/settlement-members internet address.
Publishing this Public Statement to all our investors, we remain,
Founded in June 2018, TMEX is engaged in exchange operations for trading of electronic warehouse receipts and of futures contracts on electronic warehouse receipts issued by licensed warehouse operators.
TMEX is working in collaboration with the Union of Chambers and Commodity Exchanges of Turkey (TOBB), T.R. Ministry of Trade, T.R. Ministry of Agriculture and Forest, T.R. Ministry of Treasure and Finance and other stakeholders in such fields and for such purposes as digitalization of food supply chain from field to fork, popularization and generalization of EWRs, development of contracted agriculture, and licensed warehouse operations.