Margin calls in Türkiye’s futures and options market reached a record 3.63 billion Turkish Liras on May 21, as political developments triggered a sharp selloff in Borsa Istanbul, according to Takasbank data.
The figure surpassed the previous record of 1.85 billion liras recorded on March 9, 2025. Another high had been seen on Jan. 29.
Selling deepened in the BIST 100 index after political and legal developments involving the main opposition Republican People’s Party (CHP), with losses reaching around 6 percent during the session.
An index-wide circuit breaker was triggered after the decline accelerated. The BIST 100 closed the day down 6.1 percent, marking its steepest daily fall since March 21, 2025, when Istanbul Mayor Ekrem İmamoğlu was detained.
Türkiye’s risk indicators also deteriorated after the developments. The country’s five-year credit default swaps rose by nearly 20 basis points to around 261 basis points, returning to April levels, according to market data.
