Vadeli (Futures) i\u015flem s\u00f6zle\u015fmeleri ileri ki bir tarihte, \u00f6nceden belirlenen fiyat ve miktar i\u00e7in taraflar\u0131 alma veya satma y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc getiren s\u00f6zle\u015fmedir. Vadeli i\u015flem s\u00f6zle\u015fmesi ekonomik veya finansal g\u00f6sterge olabilir, d\u00f6viz, emtia veya k\u0131ymetli maden gibi sermaye piyasas\u0131 ara\u00e7lar\u0131ndan olu\u015fmaktad\u0131r. Vadeli i\u015flem s\u00f6zle\u015fmeleri organize borsalarda i\u015flem g\u00f6rd\u00fc\u011f\u00fcnden s\u00f6zle\u015fmelerin \u00f6zellikleri \u00f6nceden belirlenerek standart hale getirilmi\u015ftir. Dolay\u0131s\u0131yla vadeli i\u015flemler borsalar\u0131nda al\u0131m sat\u0131ma konu olan d\u00f6viz, emtia, k\u0131ymetli madenler veya finansal ara\u00e7lar\u0131n nitelikleri , miktar\u0131, s\u00fcresi ve teslim yeri standartize edilmi\u015ftir. Vadeli i\u015flem s\u00f6zle\u015fmeleri organize borsada ikinci elden i\u015flem g\u00f6rd\u00fc\u011f\u00fc i\u00e7in tek de\u011fi\u015fken al\u0131m sat\u0131m s\u0131ras\u0131nda olu\u015fan fiyatt\u0131r.<\/p>\n
Vadeli i\u015flemler piyasalar\u0131nda i\u015flem yapan yat\u0131r\u0131mc\u0131lar spot piyasada ortaya \u00e7\u0131kan riskleri ortadan kald\u0131rmak ve bu riskleri y\u00f6netmek i\u00e7in future piyasalarda i\u015flem yapmaktad\u0131rlar. Gelecekteki fiyat de\u011fi\u015fimlerine kar\u015f\u0131 bug\u00fcnden i\u015flem yaparak olas\u0131 fiyat dalgalanmalar\u0131na kar\u015f\u0131 korunma sa\u011flamak \u00f6nemli avantajlar\u0131n ba\u015f\u0131nda gelmektedir. Vadeli i\u015flem s\u00f6zle\u015fmelerinin en \u00f6nemli \u00f6zelli\u011fi organize borsada i\u015flem g\u00f6rmeleridir. S\u00f6zle\u015fmelerin borsan\u0131n daha \u00f6nceden standart hale getirdi\u011fi s\u00f6zle\u015fme \u00f6zellikleri sayesinde yat\u0131r\u0131mc\u0131lar i\u00e7in fiyat d\u0131\u015f\u0131ndaki her t\u00fcrl\u00fc \u00f6zellikler de\u011fi\u015fken de\u011fildir. Vadeli i\u015flem s\u00f6zle\u015fmeleri takas kurumu taraf\u0131ndan garanti edildi\u011finden dolay\u0131 taraflar\u0131n birbirini tan\u0131mas\u0131 gerekmez. Merkezi kar\u015f\u0131 taraf hizmeti, Takasbank\u2019\u0131n al\u0131c\u0131ya kar\u015f\u0131 sat\u0131c\u0131, sat\u0131c\u0131ya kar\u015f\u0131 ise al\u0131c\u0131 konumunda hizmet eder. B\u00f6ylelikle taraflar kar\u015f\u0131 taraf riskini ortadan kald\u0131r\u0131r. Dolay\u0131s\u0131yla vadeli i\u015flem s\u00f6zle\u015fmeleri borsalarda \u015feffaf bir \u015fekilde h\u0131zl\u0131 bir \u015fekilde el de\u011fi\u015ftirerek i\u015flem g\u00f6r\u00fcr. \u0130\u015flemler kamuya a\u00e7\u0131k olarak yap\u0131l\u0131r ve t\u00fcm s\u00f6zle\u015fme fiyatlar\u0131 kat\u0131l\u0131mc\u0131lar taraf\u0131ndan \u015feffaf ve anl\u0131k olarak takip edilebilir. Verilen emirler fiyat, zaman ve emir \u00f6nceli\u011fine g\u00f6re i\u015flem g\u00f6r\u00fcr. Bir di\u011fer \u00f6nemli avantaj ise tek vade yoktur. Konu olan finansal varl\u0131\u011f\u0131n birden fazla vade se\u00e7ene\u011fi ile yat\u0131r\u0131mc\u0131lar\u0131n ihtiyac\u0131na sunulur. K\u00e2r ve zarar s\u00fcrekli olarak g\u00fcnl\u00fck olarak hesaplan\u0131r ve g\u00fcn sonunda mark to market yani piyasaya g\u00f6re ayarlama yap\u0131larak g\u00fcnsonu uzla\u015fma yap\u0131l\u0131r. Ayr\u0131ca g\u00fcn i\u00e7i uzla\u015fma fiyatlar\u0131 ile bakiyeler s\u00fcrekli olarak g\u00fcncellenir. Future i\u015flemleri organize bir borsada yap\u0131ld\u0131\u011f\u0131 i\u00e7in s\u00f6zle\u015fmelerin g\u00fcn ba\u015f\u0131nda g\u00fcn i\u00e7i en y\u00fcksek ve g\u00fcni\u00e7i g\u00f6rece\u011fi en d\u00fc\u015f\u00fck fiyat limitleri bellidir. Dolay\u0131s\u0131yla s\u00f6zle\u015fme fiyatlar\u0131 tavan-taban limitlerini a\u015famaz. Vadeli i\u015flem s\u00f6zle\u015fmelerine yat\u0131r\u0131m yapabilmek i\u00e7in yat\u0131r\u0131mc\u0131lar s\u00f6zle\u015fme ba\u015f\u0131na olan minimum teminat, hesap bakiyelerinde mevcut olmas\u0131 gerekmektedir. Vadeli i\u015flemler kald\u0131ra\u00e7l\u0131 bir piyasa oldu\u011fundan dolay\u0131 ba\u015flang\u0131\u00e7 teminat\u0131n\u0131n yan\u0131 s\u0131ra s\u00fcrd\u00fcrme teminat\u0131 da mevcuttur. Yat\u0131r\u0131mc\u0131n\u0131n s\u00fcrd\u00fcrme teminat\u0131n\u0131n alt\u0131nda kalmad\u0131\u011f\u0131 s\u00fcrece pozisyonlar\u0131 ya\u015fatmas\u0131 yat\u0131r\u0131mc\u0131n\u0131n alehine olan bir durumdur.<\/p>\n
Temel risk e\u011fer yat\u0131r\u0131mc\u0131 vadeli i\u015flem yat\u0131r\u0131m\u0131n\u0131 sadece spek\u00fclatif ama\u00e7l\u0131 olarak yap\u0131yorsa, kullan\u0131lan paran\u0131n ileride kaybedilme tehlikesi her zaman mevcuttur. Vadeli i\u015flemler kald\u0131ra\u00e7l\u0131 bir piyasad\u0131r. D\u00fc\u015f\u00fck teminat ile i\u015flem yapman\u0131n piyasada yat\u0131r\u0131mc\u0131n\u0131n lehine \u00e7al\u0131\u015fabilece\u011fi gibi aleyhe \u00e7al\u0131\u015fabilece\u011fi de unutulmamal\u0131d\u0131r. Dolay\u0131s\u0131yla riskin y\u00fcksek oldu\u011fu yerde kazanc\u0131n ve bir o kadar tersine kayb\u0131nda y\u00fcksek olaca\u011f\u0131 g\u00f6z \u00f6n\u00fcnde bulundurulmal\u0131d\u0131r. Future s\u00f6zle\u015fmeler ile vadeli i\u015flem ve opsiyon borsas\u0131nda sadece spek\u00fclatif anlamda yat\u0131r\u0131m yapmak isteyen yat\u0131r\u0131mc\u0131lar, bu piyasada i\u015flem yapmadan \u00f6nce piyasada kar\u015f\u0131la\u015fabilecekleri riskleri almalar\u0131, mali durumlar\u0131n\u0131 ve k\u0131s\u0131tlar\u0131n\u0131 dikkate alarak karar vermeleri gerekmektedir. Fiyat riskinin yan\u0131 s\u0131ra Baz Riski de vadeli i\u015flemler piyasas\u0131nda her zaman mevcut olabilir. Ta\u015f\u0131ma maliyetine g\u00f6re spot fiyat ile vadeli fiyat aras\u0131nda her zaman bir fark olmal\u0131d\u0131r. Spot fiyat ile vadeli fiyat aras\u0131ndaki fark\u0131n azalmas\u0131 veya artmas\u0131 riskine baz riski denmektedir. Baz hesaplamas\u0131 en yak\u0131n vadedeki vadeli fiyat esas al\u0131narak yap\u0131l\u0131r. Korunma amac\u0131yla i\u015flem yapanlar\u0131 riskleri ile tam uyu\u015facak bir vadeyi her zaman bulamayabilirler. Baz riski i\u015fte tam bu durumlarda ortaya zaman zaman \u00e7\u0131kabilmektedir. Korunma (Hedge) amac\u0131yla i\u015flem yapan yat\u0131r\u0131mc\u0131lar i\u00e7in Vadeli i\u015flemler piyasas\u0131nda y\u00fczde y\u00fcz korunma sa\u011flamak m\u00fcmk\u00fcnd\u00fcr. Ancak vadenin uyu\u015fmamas\u0131, miktarlar\u0131n uyu\u015fmamas\u0131, dayanak varl\u0131k ile korunma sa\u011flanan mal\u0131n birbirinden farkl\u0131 olmas\u0131, s\u00f6zle\u015fme adetinin korunma sa\u011flanacak mal\u0131n b\u00fcy\u00fckl\u00fc\u011f\u00fcne e\u015fit olmamas\u0131 gibi bir \u00e7ok neden tam korunma sa\u011flamas\u0131n\u0131 m\u00fcmk\u00fcn k\u0131lmayabilir.<\/p>\n","protected":false},"excerpt":{"rendered":"
Vadeli (Futures) i\u015flem s\u00f6zle\u015fmeleri ileri ki bir tarihte, \u00f6nceden belirlenen fiyat ve miktar i\u00e7in taraflar\u0131 alma veya satma y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc getiren s\u00f6zle\u015fmedir. Vadeli i\u015flem s\u00f6zle\u015fmesi ekonomik veya finansal g\u00f6sterge olabilir, d\u00f6viz, emtia veya k\u0131ymetli maden gibi sermaye piyasas\u0131 ara\u00e7lar\u0131ndan olu\u015fmaktad\u0131r. Vadeli i\u015flem s\u00f6zle\u015fmeleri organize borsalarda i\u015flem g\u00f6rd\u00fc\u011f\u00fcnden s\u00f6zle\u015fmelerin \u00f6zellikleri \u00f6nceden belirlenerek standart hale getirilmi\u015ftir. Dolay\u0131s\u0131yla vadeli…<\/p>\n","protected":false},"author":1,"featured_media":2264,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-2263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-makaleler"],"_links":{"self":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/2263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/comments?post=2263"}],"version-history":[{"count":2,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/2263\/revisions"}],"predecessor-version":[{"id":2266,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/posts\/2263\/revisions\/2266"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/media\/2264"}],"wp:attachment":[{"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/media?parent=2263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/categories?post=2263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investaz.com.tr\/blog\/wp-json\/wp\/v2\/tags?post=2263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}