Kurban Bayramı (Feast of Sacrifice) 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
Due to Kurban Bayramı holiday, for the DAM-IM collateral calculation to be made on 28th, 29th of July and 4th of August, the number of “k” days is 6 (six).
