Clearing of trading operations in Islamic financial securities

Capital Markets have created more inovative Islamic products and trading volume of these products have been increasing. Besides variety of Islamic products in stock exchanges, clearing which is the bargaining process literally is realized in different institutions rather than stock exchanges. Clearing Institutions are responsible for clearing of transactions in trading platforms of Capital Markets. In Capital Markets of Turkey, Borsa Istanbul is the trading platform and Takasbank is the clearing platform. Takasbank provides Central Counterparty (CCP) service in some markets of Borsa Istanbul as well. In this study, details of clearing transactions and Central Counterparty (CCP) service in capital markets in accordance with international finance regulations. In order to understand applications in Turkey, Takasbank and its operations will be stated. Clearing and CCP services will be examined in terms of Islamic finance. Clearing and CCP applications in the most important financial markets in Borsa Istanbul will be stated.