History

HISTORY OF BIGA COMMODITY EXCHANGE

Commodity Exchanges firstly appeared in Regulations about Commodity and agricultural, in our country in 1876. But; they couldn’t establish. Then, in 1882, an assignment was given this board of trade to establish a commodity exchange, with the regulations in İstanbul. But they couldn’t achieve.Finally, in 1886 there was general regulations about these exchanges, and in 1891 first Exchange Office were established in İzmir, called Trade and Industry Exchange with these regulations. Then the others were established in 1913, in Antalya and Adana, in 1920 in Edirne,Konya, Bursa, in 1924 and in 1925 Istanbul Trade and Cereal. Totally , 24 Exchange Offices have been established with the regulations in the period of Republic, since 1950 with Commodity Exchange, Board of Trade, Trade and Industry Exchange and Board of Sea Trade, Turkey Boards and Exchanges Offices which are upper part of them arranged as separate legal personality with the law, called number 5550 which is more detailed and general regulations, in 1950 and it comes to present, making same regulations.

LEGAL STRUCTURE OF EXCHANGE OFFİCES

The definition of Commodity Exchange Offices are available in the law number 5590 32^nd item. According to this law,Commodity Exchange Offices are public institutions which belong to legal personalities, were established for buying and selling the items they were established in city and town, and also branches can be opened in their working site.

Their Assignments

a) Regulate and enroll buying and selling items which belong to Exchange Office

b) Identify and declare daily prices of items which belong to exchange Office

c) Form general rules and principles which show vendors and purchasers’ assignments via delivery, receipt and payment, and also each person’s minimum qualities and way of behaviour.

OUR COUNCIL

MÜFİT OKYAY
22/05/1986 - 09/06/1989