The “Up Step Rule” will be applied in the trade queues where circuit breaker application is started and short selling can be made in the stock market.
It has been decided to add the “Up Step Rule” feature in short selling transactions to the circuit breaker application, which is valid for the shares traded with the continuous trading method in the Borsa Istanbul Equity Market.
According to the statement made by Borsa Istanbul, the up step rule will be automatically applied in short selling transactions, valid until the end of the session, in the trading queues where circuit breaker application starts during the day and short selling can be made.
The regulation will come into effect from today.
Warning from CMB
In the meantime, as the stock market fell below the critical level of 5,000, the Capital Markets Board made a statement, and the CMB stated that in case of detection of actions and transactions that would disrupt the trust, openness and stability of the capital market, criminal sanctions would be imposed on those responsible.