What is Commodity Exchange?
Commodity exchanges are institutions with public legal entities established to be engaged in the procurement, registration and announcement of the prices of the commodities included in the exchange and the prices included in the exchange within the framework of the principles written in the Law No. 5174. Commodity exchanges and precious metals are not covered by this Law.
Establishing Commodity Exchange
Commodity exchanges are established by the Ministry in favor of the Union, in cases where commercial needs require it.Specialized stock exchanges can also be established to operate at the country, region and international level.Establishment of regional stock exchanges; half of the total number of members in the territory, the decision of two-thirds of the total number of the individual members of the written application or of the stock exchange assemblies, and the decision of the Ministry upon the affirmative opinion of the Union. With the establishment of the regional commodity exchange, the founding stock market becomes a branch.
Country and regional commodity exchanges are also subject to the provisions of trade exchanges.
Commodity Exchanges are obliged to provide adequate and adequate organization, infrastructure, equipment and necessary personnel in accordance with the common criteria based on the commodity exchange conditions to be determined by the Ministry with the positive opinion of the Association.The classification of commodity exchange according to their qualifications shall be regulated by the Ministry with a positive opinion of the Union.Outside residents can trade on international commodity exchanges.
Working areas of commodity exchanges
The working area of the commodity exchange is the province boundaries. This area of study may be expanded or narrowed by the Union's Board of Directors, including the circles as well as those that are valid up to the date of the commodity exchange.