Turkey's SPK suspends trading in some funds, orders liquidation of 130
Turkey's SPK suspends trading in some funds, orders liquidation of 130 ISTANBUL, Sept 17 (Reuters) - Turkey's Capital Markets Board (SPK) said on Thursday it had suspended purchases and sales on the TEFAS fund platform for some investment funds managed by seven portfolio management companies and ordered the liquidation of them.
The regulator said the measure applies to funds traded on the Turkey Electronic Fund Trading Platform (TEFAS) and managed by Tera Portfoy, Pusula Portfoy, Hedef Portfoy, Atlas Portfoy, A1 Portfoy, Pardus Portfoy and Bulls Portfoy.
Separately, the SPK said it had lowered the minimum equity maintenance requirement for margin trading transactions to 20% from 35% until October 2, allowing brokerages to apply the lower ratio in line with their risk policies.
(Reporting by Ezgi Erkoyun; Editing by Toby Chopra)
((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))