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You may easily carry out your equity and FOE trades through Burgan Securities.
Open an investment account through our branches or internet banking. Start trading by shifting to Burgan Securities via Equity / FOE trades menu both in Burgan Mobile and in internet banking!
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Burgan Yatırım Menkul Değerler A.Ş. offers intermediary institution services for your equity and FOE trades.
Share Certificates (Equities)
Share certificates are variable-yield securities and negotiable instruments issued by joint-stock companies and representing the participation in company capital.
- They offer a higher return on investment opportunity than fixed income securities and investment instruments at short-, mid- and long-terms.
- Investors are entitled to get a share (dividend) out of the net distributed profit of the company represented by the share certificates held by them.
- A trading profit may also be earned in case of a rise in price per share. However, in case of a fall in price per share, due to loss of principal, the risk of this investment instrument is higher than the risk of fixed income investment instruments.
- Share certificates are kept in custody by the Central Registry Agency (MKK) under the name and investment account number of related investors.
- 0% withholding tax rate is applied on proceeds of trading of share certificates (equities), other than Investment Trusts and Exchange Traded Funds (ETF).
FOE (Futures and Options Exchange)
Futures contracts are contracts which hold the contract parties obliged to buy or sell, as the case may be, certain commodities, precious metals, capital market instruments, economic or financial indicators or foreign currencies of a predetermined kind and quantity, at a predetermined price, on a certain and predetermined due date.
- In FOE, Equities, Indices, Currencies (USD/TL, EUR/TL, EUR/USD, Rouble/TL, Chinese Yuan/ TL, GBP/USD), Precious Metals (Ounce USD Gold, Gram TL Gold), Commodities, Energy, Metals and Interest-based futures contracts are traded.
- In FOE, index-based futures contracts are traded also in evening session between 19:00 and 23:00 hours after the normal session.
- In Turkey, BIST Futures and Options Exchange and its margin system are under management of the Settlement and Custody Bank. If you wish to trade, prior to starting to trade, you are required to deposit certain initial margins determined separately for each contract in FOE accounts.
- Profit and loss are calculated daily, and are reflected into your account at the end of day. If, according to such reflected profit/loss figures, your margin falls below the minimum margin (initial margin) required to be kept therein, a margin call is made, and you are then required to gross up your margin and/or to close your positions.
- These instruments may be traded until the end of maturity. Position is closed at the end of maturity.
- Equity-based futures contracts are closed by physical settlement method (the underlying assets change hands) at the end of maturity, while other types of futures contracts are closed by cash settlement (the difference in cash changes hands) at the end of maturity.
- In FOE, a withholding tax of 10% is applied on proceeds or return of futures contracts other than share certificates (equities) and equity-based indices.
Option contract is a synallagmatic (bilateral) contract which entitles the option buyer to buy or sell the underlying goods, assets or financial indicators at a predetermined price (strike price) against a certain amount to be paid (option premium), until a certain due date (or at a certain due date), and obliges the option seller to sell or buy, as the case may be, the underlying goods, assets or financial indicators if and when the option buyer uses its rights arising out of this contract.
- In FOE, Equities, Equity Indices and Dollar/TL Option contracts are traded.
- These instruments may be traded until the end of maturity.
- End-of-maturity settlement method of equity option contracts is physical delivery, while cash settlement is made in other option contracts at the end of maturity.
- If and when an option contract is terminated by cash settlement or is closed through purchase of a reverse position (difference between collected and paid option premiums), 0% withholding tax is applied for proceeds and returns of equity-based and equity index-based option contracts. As the related withholdings are final taxes, there is no need to submit a tax return declaring said proceeds and returns. Pursuant to paragraph (1) of temporary article 67 of Income Tax Law, profits or losses arising out of the same types of securities or other capital market instruments can be deducted and set off. However, the losses resulting therefrom cannot be deducted from other taxable profits. If a contract is terminated before the contractual rights are used, the paid option premium cannot be deducted from other taxable profits.