TERME COMMODITY XCHANGE’S FINANCIAL POLICY

Terme Commodity Exchange carries out activities to meet the needs of its members, to facilitate their professional activities and PROVİDE services specified in the law number 5174. It uses the sources of income specified in the law number 5174 in order to carryout the said activities.

Tariffs for services and contributions provided by Terme Commodity Exchange are determined before each fiscal year by Commodity Exchange Assembly in accordance with the economic conditions of the region in line with the provisions stipulated in Law No. 5174.

The budget of Terme Commodity Exchange is prepared and implemented in line with the principles of efficiency and economy and according to accounting period, taking into account the requirements of plans and programmes and benefit and cost elements.

It is essential that the resources of the Commodity Exchange be used effectively and efficiently in line with the policies and objectives included in the Strategic Plan.

Spendings are planned in accordance with the annual income (resources) of Terme Commodity Exchange. Spendings are organised within the framework of this plan and resources-spendings balance is ensured.

Acting in line with Budget and Accounting Regulation, Terme Commodity Exchange keeps accounting records in accordance with the generally accepted accounting principles and the uniform chart of accounts.

Terme Commodity Exchange adopts principles of transparency, efficiency, economy, accurate and timely information in spending and collecting revenues.

It submits its financial reports to Accounts Review Committee and relevant organs on a regular basis in order to facilitate control and management of financial resources and spendings.

Terme Commodity Exchange keeps its assets as time deposit.

All of the practices said above form the financial policy of Terme Commodity Exchange.