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TurkeyIstanbulCMB (SPK)TRY

Borsa Istanbul Stock Loans in Turkey

Stock loans (securities-backed financing) against shares listed on Borsa İstanbul (BIST) — for family offices, founders and controlling shareholders.

01 · Process
How it works

From enquiry to funding.

StageWhat happensTiming
01Confidential enquiryThe holding and the objective, shared under NDA through a secure channel.Day one
02Indicative termsStructure, sizing and indicative pricing returned against the position.1–2 days
03Structuring & documentationKYC, share and market review; terms formalised under institutional documentation alongside your counsel.1–2 weeks
04Custody & fundingPledged shares held at a qualified custodian; collateral secured and proceeds released.On completion
02 · The Market
United Kingdom & Europe

About Borsa İstanbul.

Borsa İstanbul is the principal cash-equity venue of Turkey. Founded in 2013, it operates under the oversight of Capital Markets Board of Türkiye (CMB (SPK)), and its leading benchmarks are BIST 100, BIST 30. Listing standards are set out in the Borsa İstanbul Listing Directive; Capital Markets Law No. 6362.

Borsa Istanbul at a glance:

Listed venueBorsa İstanbul (BIST)
RegulatorCapital Markets Board of Türkiye (CMB (SPK))
CurrencyTRY
SettlementT+2
Disclosure threshold5%
Principal indicesBIST 100, BIST 30

Formed in 2013 from the consolidation of the Istanbul exchanges, bridging European and Middle Eastern capital. Single-stock turnover is high; lira volatility is the central structuring consideration for a TRY-denominated pledge.

On Borsa İstanbul specifically, eligibility turns on where the name sits in the market’s liquidity. BIST 30 and the larger BIST 100 constituents — the banks, industrials and holding companies that carry the free float and daily turnover — support the highest loan-to-value; BIST Stars names are financed on their own merits, and thin BIST Main and SubMarket lines case by case. A useful read is Takasbank’s Securities Lending Market and the short-selling list, both built out from the BIST 30, which mark the lines the market itself treats as liquid enough to borrow and short.

03 · Eligibility
For Institutional Positions

What qualifies on Borsa Istanbul.

Borsa Istanbul is an established but selective venue; we weigh eligibility against the stock’s liquidity, free float, and how concentrated the holding is.

For any given Borsa Istanbul position, our review looks at: free float and daily traded volume against the size of the transaction; your status (controlling shareholder, director, substantial shareholder) and the disclosure that follows; the issuer’s sector and listing segment; and what the transaction must do (LTV, tenor, currency, recourse, custody).

04 · Disclosure
CMB (SPK)

Framework cited on Borsa Istanbul.

The principal regulatory reference on Borsa Istanbul is Disclosure of material holdings under the Capital Markets Law No. 6362 and the CMB communiques,. How it applies to any single transaction — reporting levels, step thresholds — turns on the underlying rules and national-law overlays, which we map against your contemplated transaction at the structuring stage alongside the counsel you appoint.

The citations above are public regulatory references, given for orientation only and not as legal advice. Take independent legal advice in the relevant jurisdiction for any specific transaction.

See the full process →

05 · FAQ
Borsa Istanbul · Stock Loans

What holders ask about Borsa Istanbul.

01Which Borsa İstanbul-listed shares qualify for a stock loan?
As a rule, the more liquid the name, the cleaner the facility. BIST 30 and the larger BIST 100 constituents support the highest loan-to-value; BIST Stars names are taken on their merits and thin SubMarket lines case by case. Black Haven quotes indicative terms only after reviewing the specific line — its free float, daily turnover, and any lock-up or connected-person restriction.
02How much can I borrow against a Borsa Istanbul-listed holding?
The loan-to-value is set to the specific holding — free float, daily traded volume, volatility, and your regulatory standing. We quote indicative ratios only after reviewing the actual Borsa Istanbul position.
03Which Borsa Istanbul segments can I borrow against?
We look at each case across the segments Borsa İstanbul runs: BIST Stars; BIST Main; BIST SubMarket. Higher tiers are usually simpler to structure, as free float and liquidity are deeper.
04What currency can the facility be drawn in?
The default is TRY, the listing currency. Cross-currency structures are common and readily arranged.
05What is the settlement cycle on Borsa Istanbul?
Equities listed on Borsa İstanbul generally settle on T+2. We align the pledge and the drawdown mechanics to that cycle.
06What is the disclosure threshold on Borsa Istanbul?
The principal level is 5%, under Disclosure of material holdings under the Capital Markets Law No. 6362 and the CMB communiques,. Crossing it triggers a notification; we map the exact thresholds to your holding.
07How long does a Borsa Istanbul stock loan take to arrange?
Indicative terms within one to two business days of an enquiry, with documentation and funding usually inside about three weeks, depending on custody onboarding and the size of the line.
06 · Other Venues
Turkey

Other venues.

United Kingdom · Europe (Euronext) · Germany · Switzerland · Italy · Spain

Turkey overview →

A particular Borsa Istanbul holding to talk through?

Send a confidential enquiry, and a senior principal will reply within one business day.