Turkey detains 8 people amid investigation into alleged stockpile market Forgery

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Turkish language prosecutors An investigation into alleged organized wrongdoing has been opened in stock market Transactions after landing in stock last A month, eight were arrested people in Connection with Probe, according to local media.

Banking Services shares on The Istanbul Stock Exchange (BIST) experienced a sharp decline in Recent weeks, after rising more From 150% until mid-September from the start of The year. The decline Largely due to margin calls on forward positions.

Istanbul prosecutors Investigation started on suspicion of Regulated Activity Violated and Promulgated the Turkish Capital Markets Law arrest Warranties for 10 people The police conducted an operation at 17 addresses in Four provinces. two of Anadolu Agency said the wanted men were abroad on Sunday.

The Capital Markets Board (SPK) said a criminal A complaint has been filed against 10 people over Executed Transactions out on The Istanbul Stock Exchange Futures and Options Market (VIOP), with The same people A construction company banned from trading for Two years.

sudden reversal in Turkish stocks market Bank stock saw drop 39% in Three-week long defeat began on Bloomberg News said on September 13, threatening some brokerages financial More. It was estimated that this path wiped out about $14 billion in market the value.

President Recep Tayyip Erdogan last Expect the week “speculation moves”During the defeat, he said, the Treasury and Finance Department was” reviewing transactions as part of of probe.”

Analysts and participants He said that Ankara maybe move To reduce futures contracts on shares of small or medium-sized companies with a little trading size prone to price processing.

One of the future sources said: market Investors occupied the positions to a large extent trading with Five brokerage houses, if investors can not meet the guarantees requirements may be reflected in Balance sheets of brokerage firms.

One of The brokerages that the sources named among the five were Gedik Investment. Jedek said on Friday, she decided to raise it share Capital to 505 million TL from 327 million TL via Priority rights due to unusual volatility in Istanbul Stock Exchange and VIOP.

Investors in Futures contracts must meet margin calls by showing cash and shares or other securities equal to the margin call to keep them trading positions. Otherwise, brokerages meet them by selling shares.

Last Thursday, Turkish clearing house Takasbank worked to provide liquidity to brokerage and acquisition firms on Some stocks as collateral and stability shares in Turkish lenders Şekerbank and the Industrial Development Bank of Turkey (TSKB).

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