ELÜS Piyasası Üzerine Bir Araştırma: Piyasa Göstergelerinin MABAC Yöntemiyle Analizi
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Tarih
2023
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Türk Kooperatifçilik Kurumu
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Türkiye'deki ELÜS piyasasının gelişimi, başlangıçta yetkilendirilen ticaret borsalarının elektronik platformlarında işlem görmesiyle başlamıştır. Daha sonra, Konya Ticaret Borsası'nın BorsaKonya ELÜS işlem piyasasını kurmasıyla birlikte bu süreç hız kazanmıştır. TÜRİB'in ulusal borsa statüsüyle kurulması ve uluslararası bir borsa olma yolunda ilerlemesi, ELÜS piyasasının önemini ve büyüklüğünü vurgulamaktadır. Bu çalışmanın odak noktası, ELÜS piyasasının yıl bazlı performans gelişimi ile ELÜS piyasasında takas üyesi olarak hizmet sunan aracı kurumların performansının ölçülmesidir. Kriterleri ağırlıklandırmada NMD, CRITIC ve Entropi yöntemleri, hesaplanan ağırlık değerlerinin bütünleştirilmesinde Bayes yöntemi, alternatiflerin değerlendirilmesinde ise MABAC yöntemi kullanılmıştır. Çalışma kriterleri, ELÜS piyasasında aktif işlem gerçekleştiren üretici ve yatırımcı sayısı, ELÜS işlemleri gerçekleştirilen lisanslı depo şirketlerinin sayısı, takas ve saklama hizmeti sunan aracı kurum sayısı, toplam lisanslı kapasite, gerçekleşen toplam işlem adedi, toplam işlem hacmi, toplam işlem sayısı ve yıl sonunda depolarda bulunan toplam ELÜS bakiyelerini içermektedir. ELÜS piyasa performansı açısından Entropi-MABAC, CRITIC-MABAC, NMD-MABAC ve Bayes-MABAC yöntemleri sıralama sonuçlarında en iyi performansın 2022 ve 2021 yıllarında gerçekleştiği belirlenmiştir. Ayrıca, 2018-2021 dönem verilerine göre en başarılı performansa sahip olan takas üyesi ilk iki aracı kurumun Ziraat Bankası ve Deniz Bank olduğu tespit edilmiştir.
The development of the Electronical Warehouse Receipt (EWR) market in Turkey began when the commodity exchanges initially authorised were traded on electronic platforms. This process has gained momentum after the Konya Commodity Exchange established the EWR trading market in BorsaKonya. The importance and magnitude of the EWR market is underlined by the fact that Turkish Mercantile Exchange is established with a national exchange status and its progress towards becoming an international mercantile exchange. The focus of this study is on the performance of the EWR market year-by-year performance development and the performance of the intermediary institutions that serve as settlement members in the EWR market. The NMD, CRITIC, and Entropy methods were used to weight criteria, the Bayesian method was used to integrate the calculated weight values, and the MABAC method used to evaluate alternatives. The working criteria include the number of producers and investors who perform active transactions in the EWR market, the number of licenced warehouses where EWR transactions are performed, the number of brokerage houses that provide clearing, settlement and custody services, total licenced capacity, the total number of transactions performed, total trading volume, total number of transactions and the total EWR balances stored at the end of the year. In terms of EWR market performance, it was found that the best performances were in the ranking results of Entropy-MABAC, CRITIC-MABAC, NMD- MABAC and Bayes-MABAC methods in 2022 and 2021. In addition, the first two clearing member intermediaries to have the most successful performance according to 2018-2021 period data were Ziraat Bank and Deniz Bank.
The development of the Electronical Warehouse Receipt (EWR) market in Turkey began when the commodity exchanges initially authorised were traded on electronic platforms. This process has gained momentum after the Konya Commodity Exchange established the EWR trading market in BorsaKonya. The importance and magnitude of the EWR market is underlined by the fact that Turkish Mercantile Exchange is established with a national exchange status and its progress towards becoming an international mercantile exchange. The focus of this study is on the performance of the EWR market year-by-year performance development and the performance of the intermediary institutions that serve as settlement members in the EWR market. The NMD, CRITIC, and Entropy methods were used to weight criteria, the Bayesian method was used to integrate the calculated weight values, and the MABAC method used to evaluate alternatives. The working criteria include the number of producers and investors who perform active transactions in the EWR market, the number of licenced warehouses where EWR transactions are performed, the number of brokerage houses that provide clearing, settlement and custody services, total licenced capacity, the total number of transactions performed, total trading volume, total number of transactions and the total EWR balances stored at the end of the year. In terms of EWR market performance, it was found that the best performances were in the ranking results of Entropy-MABAC, CRITIC-MABAC, NMD- MABAC and Bayes-MABAC methods in 2022 and 2021. In addition, the first two clearing member intermediaries to have the most successful performance according to 2018-2021 period data were Ziraat Bank and Deniz Bank.
Açıklama
Anahtar Kelimeler
Takas Üyesi, ELÜS, Piyasa Performansı, ÇKKV, MABAC, Settlement Membe, EWR, Market Performancer
Kaynak
Üçüncü Sektör Sosyal Ekonomi
WoS Q Değeri
Scopus Q Değeri
Cilt
58
Sayı
4
