Execution of Buy/Sell Orders
Order: Instructions received from the customer, either in written or verbal form, and/or submitted through the trading platform, for the purchase or sale of leveraged assets.
Electronic Trading Platform: The electronic platform where the customer can buy and sell leveraged assets, and where the account status and current prices can be viewed.
Leveraged buy/sell orders can be directly submitted by the customer, either in written or verbal form, to the authorized personnel of the QNB Invest International Markets Unit, or to the electronic trading platform allocated to the customer, if deemed appropriate by QNB Invest.
The customer may submit orders to the trading platform within the timeframes determined by QNB Invest. The customer accepts that QNB Invest may not accept orders on days when national and/or international markets are closed for holidays, and that QNB Invest may change order submission hours due to daylight saving time and similar changes.
The customer is obligated to clearly, precisely, and understandably state the desired transaction type (buy or sell), the name of the asset to be traded, the quantity, the order type, the validity period, price limitations, and other information requested by QNB Invest in the order.
The customer may determine the validity period of the order at their own discretion. The order is deemed to have been given as daily or valid for an indefinite period until canceled by a second instruction. The customer may submit an order to QNB Invest to be valid on a specific date, provided that QNB Invest accepts it.
The customer may cancel an order provided that it has not yet been executed.
Principles Regarding Trading Collateral
Trading Collateral (Margin): The collateral that the customer must maintain with QNB Invest to carry out leveraged buy/sell transactions.
The customer is obliged to maintain the collateral amount determined by QNB Invest for each asset/asset pair and/or on an account basis, and notified to the customer, to allow for the execution of buy/sell orders. QNB Invest is not responsible for the non-execution of customer orders if there is insufficient trading collateral in the customer's investment account. The minimum trading collateral is 1,000 USD (or the equivalent in EUR or TL).
Electronic Trading Platform: The electronic platform where the customer can buy and sell leveraged assets, and where the account status and current prices can be viewed.
Leveraged buy/sell orders can be directly submitted by the customer, either in written or verbal form, to the authorized personnel of the QNB Invest International Markets Unit, or to the electronic trading platform allocated to the customer, if deemed appropriate by QNB Invest.
The leverage ratio is determined by the maximum limits set by the Capital Markets Board. Written consent of the parties is required for subsequent changes to these ratios.
Trading Collateral is determined in two stages: initial and maintenance margin:
Initial Margin: The amount paid by the customer to open a position, calculated based on the leverage ratio determined per leveraged asset pair/leveraged asset.
Maintenance Margin: The minimum level that the updated margin amount, based on daily price changes in the market, must maintain.
If the collateral amount in the customer's account falls below the margin amount required for the leveraged buy/sell transaction, QNB Invest will issue a margin call to the customer and request the completion of the collateral. The customer is obliged to immediately fulfill their margin call obligation.
If the collateral amount in the customer's account falls below 75% of the initial margin amount, a margin call is made via the platform. In this case, the customer must restore their margin to the required level by closing positions or depositing cash. Otherwise, when the margin level reaches 50%, open positions will be automatically closed one by one, starting from the position with the greatest loss, until the 50% margin level is reached.
Margin calls can be made by QNB Invest to the customer verbally, in writing, or electronically. In the event that QNB Invest sends or makes this call, the customer is deemed to have received the call without any need for further notification or notice. The customer accepts that they will fulfill the margin calls made by QNB Invest within the requested time and manner, otherwise, some or all of their open transactions may be liquidated by a reverse transaction without any need for notification, and that the entire loss they may incur due to the position closing is their own responsibility.
In leveraged buy/sell transactions, only Turkish Lira and convertible foreign currency are accepted as collateral, up to 100% in cash.
If the customer's collateral is in a currency different from the currency of the asset they wish to trade, the existing cash will be converted to the currency in which the relevant asset is traded, based on the instantaneous exchange rates generated on the Electronic Trading Platform, without the need for the customer's approval. The customer accepts that they will have no objection to the exchange rates used in these transactions and that QNB Invest is not responsible for any losses arising from currency rate fluctuations.
Electronic Tracking of Orders and Principles for Customer Notifications
The customer gains access to information regarding all leveraged buy/sell transactions in their account, all asset deposits, withdrawals, and transfers, the final profit and loss amounts resulting from closed positions, potential profit and loss amounts related to open positions, all types of commissions, fees, and taxes accrued to the account, and the margin status of the account via the Electronic Trading Platform.
A written notification, including information on the date, time, price, and quantity for all positions taken; the final profit and loss amounts for closed positions; potential profit and loss amounts for open positions; all movements related to cash, securities, and other assets held with QNB Invest; all types of commissions, fees, and taxes accrued to the account, and the margin status, will be sent to the customer's address by registered mail within 7 days following the relevant period on a monthly basis. However, upon the customer's written request, these monthly notifications may be sent electronically to the email address declared by the customer within the same period, or customers may be provided with electronic access to this information.
QNB Invest will notify the customer of all positions taken during the previous day via electronic access, email, or short message service within the business day following the day of the transaction.
