SPK Orders Refunds for Cancelled Fund Orders During Liquidation
Capital Markets Board says investors whose buy-sell orders were voided on Sept. 17 will be paid from liquidation balances pro rata.
KEY POINTS
- SPK orders pro-rata payment from liquidation balances for orders cancelled on Sept. 17, 2026.
- Orders submitted on or before Sept. 16 were executed normally.
- Unexecuted orders due to fund default or missing prices are also covered by liquidation.
- Minister Şimşek vows to protect legitimate investors amid ongoing probe.
The Capital Markets Board (SPK) announced that investors whose orders were cancelled on Sept. 17, 2026, when several funds were closed to trading on TEFAS and placed into liquidation, will receive payments from the liquidation balance in proportion to their participation shares.
Orders transmitted to TEFAS on or before Sept. 16 were executed normally at their regular value dates. The SPK clarified that orders placed after 1:30 p.m. on Sept. 16 and before 1:30 p.m. on Sept. 17 shared the same price value date, which is why the earlier bulletin set the cut-off at 1:30 p.m. on Sept. 17.
“Payments will be made from the liquidation balance in proportion to the participation share ownership in the fund.”
Orders that could not be executed before Sept. 16 because the relevant fund had defaulted or failed to publish a price will also be settled within the liquidation framework. Treasury and Finance Minister Mehmet Şimşek said legal proceedings continue against market manipulators while legitimate investor rights are being protected.
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