About January 1, 2023 New Year Holiday Collateral Calculation
The “k” value is used in the Day Ahead – Intraday Market collateral (DAM-IM) calculations and it represents the last “k” days in which the commercial transactions in these two markets are different than zero in last 30 days. Within the scope of Collateral Calculation Procedure, for public holidays longer than two days, the “k” number is 1 (one) more than the number of days on the holiday.
In cases where the “k” value is greater than three, for the total collateral calculation the following rules are applied:
75% of the amount calculated over the “k” number is used on workdays before the holiday
100% of the amount calculated over the “k” number is used on workdays following the holiday.
1 January New Year Holiday, fort he DAM-IM collateral calculation to be made on 28 December, 29 December and 2 January the number of “k” days is 4 (four).
| Collateral Notification Date | Detail |
|---|---|
| 28 December 2023 | The value of “k” day is equal to 4 (four). 75% of the amount calculated over this number is going to be used in the total collateral calculation. The calculated collateral amount is going to be valid for the collateral controls on the same day (28th of December) at 5:00 pm and on the following business day (29th December) at 11:00 am. |
| 29 December 2023 | The value of “k” day is equal to 4 (four). 75% of the amount calculated over this number is going to be used in the total collateral calculation. The calculated collateral amount is going to be valid for the collateral controls on the same day (29th of December) 5:00 pm and on the following business day (2th of January) at 11:00 am. |
| 2 January 2024 | The value of “k” day is equal to 4 (four). 100% of the amount calculated over this number is going to be used in the total collateral calculation. The calculated collateral amount is going to be valid for the collateral controls on the same day (2th of January) 5:00 pm and on the following business day (3th of January) 11:00 am. |
