{"id":103173,"date":"2022-06-29T09:42:00","date_gmt":"2022-06-29T09:42:00","guid":{"rendered":"https:\/\/leverate.com\/blog-tr\/makale\/doviz-platformu-kurulumu-doviz-vadeli-islem-kavrami-fiyatlandirma-hesaplamasi-ve-uygulama-ornekleri\/"},"modified":"2026-11-03T09:58:40","modified_gmt":"2026-11-03T09:58:40","slug":"doviz-platformu-kurulumu-doviz-vadeli-islem-kavrami-fiyatlandirma-hesaplamasi-ve-uygulama-ornekleri","status":"publish","type":"post","link":"https:\/\/leverate.com\/tr\/blog-tr\/is\/doviz-platformu-kurulumu-doviz-vadeli-islem-kavrami-fiyatlandirma-hesaplamasi-ve-uygulama-ornekleri\/","title":{"rendered":"D\u00f6viz Platformu Kurulumu: D\u00f6viz Vadeli \u0130\u015flem Kavram\u0131, Fiyatland\u0131rma Hesaplamas\u0131 ve Uygulama \u00d6rnekleri"},"content":{"rendered":"<h2 class=\"wp-block-heading\" id=\"i-vadeli-doviz-islemlerinin-kavrami-ve-islevi\"><strong>I. Vadeli D\u00f6viz \u0130\u015flemlerinin Kavram\u0131 ve \u0130\u015flevi<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\"> Vadeli d\u00f6viz ticareti, d\u00f6viz al\u0131m sat\u0131m\u0131n\u0131n taraflar\u0131n\u0131n \u00f6nceden bir d\u00f6viz s\u00f6zle\u015fmesi imzalayarak, gelecekte belirli bir zamanda teslimat\u0131n ger\u00e7ekle\u015ftirilece\u011fini kararla\u015ft\u0131rd\u0131klar\u0131 bir i\u015flem \u015feklidir. D\u00f6viz s\u00f6zle\u015fmesi, teslim tarihi, tutar ve d\u00f6viz kuru gibi unsurlar\u0131 i\u00e7erir.Vadeli d\u00f6viz i\u015flemleri, farkl\u0131 yat\u0131r\u0131mc\u0131lar\u0131n ihtiya\u00e7lar\u0131n\u0131 kar\u015f\u0131layabilir; \u00f6rne\u011fin, vadeli i\u015flemler yoluyla varl\u0131klar\u0131n de\u011ferinin korunmas\u0131, spek\u00fclatif kazan\u00e7 elde edilmesi, arbitraj i\u015flemleri vb. ger\u00e7ekle\u015ftirilebilir.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"ii-vadeli-doviz-kurunun-belirlenmesi-ve-hesaplanmasi\"><br><strong> II. Vadeli D\u00f6viz Kurunun Belirlenmesi ve Hesaplanmas\u0131<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\"> Vadeli d\u00f6viz kuru, do\u011frudan fiyatland\u0131rma veya spread fiyatland\u0131rma olmak \u00fczere iki \u015fekilde s\u0131n\u0131fland\u0131r\u0131labilir.<\/p>\n\n<ul class=\"wp-block-list\"><li>Do\u011frudan fiyatland\u0131rma, bankan\u0131n vadeli d\u00f6viz kurunu do\u011frudan bildirmesidir. \u00d6rne\u011fin, Z\u00fcrih d\u00f6viz piyasas\u0131nda ABD dolar\u0131\/\u0130svi\u00e7re frang\u0131 \u00fc\u00e7 ayl\u0131k vadeli d\u00f6viz kuru 1 ABD dolar\u0131 = 0,9608\/15 \u0130svi\u00e7re frang\u0131d\u0131r.<\/li><li> Fark kotasyonu ise bankan\u0131n vadeli d\u00f6viz kurunu de\u011fil, vadeli kur \u00fczerindeki prim veya iskontoyu bildirmesidir. \u00d6n rakam k\u00fc\u00e7\u00fck, arka rakam b\u00fcy\u00fckse prim; \u00f6n rakam b\u00fcy\u00fck, arka rakam k\u00fc\u00e7\u00fckse iskonto olarak kabul edilir.<\/li><\/ul>\n\n<p class=\"wp-block-paragraph\">\u00d6rne\u011fin, bir g\u00fcn piyasadaki spot d\u00f6viz kuru 1 ABD dolar\u0131 = 0,9560\/70 \u0130svi\u00e7re frang\u0131 olsun:<\/p>\n\n<p class=\"wp-block-paragraph\"> \u00dc\u00e7 ayl\u0131k prim\/iskonto 20\/30 ise, \u00fc\u00e7 ayl\u0131k vadeli d\u00f6viz kuru 1 ABD dolar\u0131 = 1 ABD dolar\u0131 = 0,9560 + 0,0020 \/0,9570 + 0,0030 \u0130svi\u00e7re frang\u0131 olur; yani 1 ABD dolar\u0131 = 0,9580\/0,9600 \u0130svi\u00e7re frang\u0131d\u0131r;<\/p>\n\n<p class=\"wp-block-paragraph\"> \u00dc\u00e7 ayl\u0131k prim\/iskonto 30\/20 ise,\u00fc\u00e7 ayl\u0131k vadeli d\u00f6viz kuru 1 ABD dolar\u0131 = 1 ABD dolar\u0131 = 0,9560 - 0,0030 \/ 0,9570 - 0,0020 \u0130svi\u00e7re frang\u0131d\u0131r, yani 1 ABD dolar\u0131 = 0,9530 \/ 0,9550 \u0130svi\u00e7re frang\u0131d\u0131r.<\/p>\n\n<h2 class=\"wp-block-heading\" id=\"iii-vadeli-doviz-islemlerinin-uygulamalari\"><strong> III. Vadeli D\u00f6viz \u0130\u015flemlerinin Uygulamalar\u0131<\/strong><\/h2>\n\n<p class=\"wp-block-paragraph\"><br><i id=\"gid_0\">1. De\u011fer koruyucu d\u00f6viz ileri ticareti<\/i><br>De\u011fer \u00f6ncesi \u00f6demeli d\u00f6viz vadeli i\u015flemleri, d\u00f6viz pozisyonlar\u0131ndaki d\u00f6viz kuru dalgalanmalar\u0131ndan kaynaklanan kay\u0131plardan ka\u00e7\u0131nmak i\u00e7in \u00f6nceden foreks s\u00f6zle\u015fmeleri imzalaman\u0131n amac\u0131d\u0131r.<br>\u00d6rne\u011fin, Ocak 2022\u2019de yerli bir \u015firket, bir \u0130ngiliz \u015firketiyle \u00a31.000.000 de\u011ferinde bir ihracat s\u00f6zle\u015fmesi imzalad\u0131 ve \u00fc\u00e7 ay i\u00e7inde \u00f6deme almay\u0131 kabul etti, RMB\u2019nin pound kar\u015f\u0131s\u0131nda de\u011fer kazanmas\u0131n\u0131 bekliyordu. O d\u00f6nemde spot d\u00f6viz kuru 1 GBP = 8.4960\/70 RMB idi ve 3 ayl\u0131k ileriye y\u00f6nelik kur 30\/20 idi. \u00dc\u00e7 ay sonra, piyasa spot kuru \u015fu oldu: 1 GBP = 8.4255\/65 RMB. \u0130hracat\u00e7\u0131, ileri d\u00f6viz ticaretiyle d\u00f6viz kuru dalgalanmalar\u0131ndan kaynaklanan kay\u0131plardan ka\u00e7\u0131nabilirdi. \u00d6zel analiz \u015f\u00f6yledir:<br>\u0130leriye d\u00f6n\u00fck forex i\u015flemleri i\u00e7in:<br>\u0130leriye d\u00f6n\u00fck d\u00f6viz kuru \u015fudur: 1 GBP = 8.4930 \/ 50 RMB (8.4960 - 0.0030 \/ 70 - 20)<br>D\u00f6viz mutabakat\u0131: 1.000.000<i id=\"gid_1\">8.4930 = 8.493.000 RMB E\u011fer herhangi bir ileri d\u00f6viz i\u015flemi yap\u0131lmazsa: vadeli d\u00f6viz kuru: 1 GBP = 8.4255 \/ 65 RMB Hesapla\u015fma: 1.000.000<\/i>8.4255 = 8.425.500 RMB<br>Bu nedenle, ithalat\u00e7\u0131lar\u0131n forward d\u00f6viz koruma i\u015flemleri yaparken 8.493.000 - 8.425.500 = 67.500 RMB zararlar\u0131ndan ka\u00e7\u0131nabilece\u011fini g\u00f6rebiliyoruz.<br><i id=\"gid_2\">2. Spek\u00fclatif d\u00f6viz ileri i\u015flemleri<\/i><br>Spek\u00fclatif d\u00f6viz ileri ticareti, yat\u0131r\u0131mc\u0131lar\u0131n belirli bir zamanda spot d\u00f6viz kurunun mevcut ileri d\u00f6viz kuruyla e\u015fle\u015fmeyece\u011fini \u00f6ng\u00f6rerek k\u00e2r etmelerini sa\u011flar.<\/p>\n\n<p class=\"wp-block-paragraph\"><br>\u00d6rne\u011fin, bir g\u00fcn Hong Kong d\u00f6viz piyasas\u0131nda \u00fc\u00e7 ayl\u0131k vadeli d\u00f6viz kuru 1 ABD dolar\u0131 = 7,7822\/41 olarak belirlendi.Bir spek\u00fclat\u00f6r, \u00fc\u00e7 ay sonra ABD dolar\u0131\/Hong Kong dolar\u0131 spot kurunun 1 ABD dolar\u0131 = 7,7944\/51 olaca\u011f\u0131n\u0131 \u00f6ng\u00f6r\u00fcyor. E\u011fer bu \u00f6ng\u00f6r\u00fc do\u011fru \u00e7\u0131karsa, 1.000.000 ABD dolar\u0131 yat\u0131rd\u0131\u011f\u0131nda ne kadar k\u00e2r elde edebilir? <br><em>Ad\u0131m 1: Spek\u00fclat\u00f6r, \u00fc\u00e7 ayl\u0131k vadeli 1.000.000 ABD dolar\u0131 sat\u0131n al\u0131r ve 1.000.000 \u00d7 7,7841 = 7.784.100 Hong Kong dolar\u0131 \u00f6demeyi bekler <\/em> <\/p>\n\n<p class=\"wp-block-paragraph\"><em>Ad\u0131m 2: Yat\u0131r\u0131mc\u0131, \u00fc\u00e7 ay sonra 1.000.000 ABD dolar\u0131n\u0131 satarak 1.000.000 \u00d7 7,<\/em> 7944 = 7.794.400 Hong Kong dolar\u0131 <em>elde eder.<\/em><br>Dolay\u0131s\u0131yla, spek\u00fclat\u00f6r 7.794.400 - 7.784.100 = 10.300 Hong Kong dolar\u0131 kar elde eder.<\/p>\n\n<p class=\"wp-block-paragraph\"><br><strong>3. Arbitraj \u0130\u015flemi<\/strong><br>Arbitraj i\u015flemi, iki para biriminin faiz oranlar\u0131 aras\u0131ndaki farktan yararlanarak, fonlar\u0131 d\u00fc\u015f\u00fck faizli bir para biriminden y\u00fcksek faizli bir para birimine aktararak k\u00e2r elde etmeyi ama\u00e7layan bir i\u015flem t\u00fcr\u00fcd\u00fcr.Ancak, fonlar\u0131 bir \u00fclkeden di\u011ferine aktarma s\u00fcrecinde d\u00f6viz kuru dalgalanma riski mevcuttur; bu durumda, \u00f6nceden bir vadeli d\u00f6viz s\u00f6zle\u015fmesi imzalamak d\u00f6viz kuru dalgalanmalar\u0131n\u0131 \u00f6nleyebilir; bu, arbitraj i\u015fleminde bir t\u00fcr \u201csigorta\u201d i\u015flevi g\u00f6r\u00fcr ve profesyonel terminolojide \u201chedge arbitraj\u201d olarak adland\u0131r\u0131l\u0131r; yani, bir ara\u00e7 kullanarak bu risk a\u00e7\u0131\u011f\u0131n\u0131 kapatmakt\u0131r.<\/p>\n\n<p class=\"wp-block-paragraph\"><br>\u00d6rne\u011fin, Mart ay\u0131 ba\u015f\u0131nda ABD\u2019nin faiz oran\u0131 %1,2, \u0130ngiltere\u2019nin faiz oran\u0131 %3,6, spot d\u00f6viz kuru 1 sterlin = 1,3525\/35 ABD dolar\u0131 ve 6 ayl\u0131k vadeli prim\/iskonto 50\/40\u2019t\u0131r.6 ay sonra piyasadaki spot d\u00f6viz kuru 1 sterlin = 1,3420\/30 ABD dolar\u0131 ise, yat\u0131r\u0131mc\u0131 1 milyon ABD dolar\u0131 ile ne kadar k\u00e2r elde edebilir? <br>E\u011fer sat\u0131\u015f-hedge arbitraj\u0131 yap\u0131lmazsa:<\/p>\n\n<p class=\"wp-block-paragraph\"><br>Mart ba\u015f\u0131nda ABD dolar\u0131n\u0131 \u0130ngiliz sterlinine \u00e7evirme: 1.000.000 \/ 1,3535 = 738.825,27 \u0130ngiliz sterlini <br>Yar\u0131m y\u0131l boyunca yat\u0131r\u0131lan \u0130ngiliz sterlininin anapara ve faiz toplam\u0131:738.825,27 <em>(1 + 3,6%\/2) = 752.124,12 sterlin. Yar\u0131m y\u0131l sonra piyasan\u0131n spot d\u00f6viz kuru \u00fczerinden sterlinleri dolara \u00e7evirirsek:752.124,12 \u00d7 1<\/em>,3420 = 1.009.350,576 ABD dolar\u0131 <br>Dolay\u0131s\u0131yla, sat\u0131\u015f-sat\u0131n alma arbitraj\u0131 ger\u00e7ekle\u015ftirildi\u011finde 1.009.350,576 - 1.000.000 = 9.350,576 ABD dolar\u0131 kar elde edilir. <br>E\u011fer sat\u0131\u015f-al\u0131m arbitraj\u0131 yap\u0131l\u0131rsa: <br>Mart ba\u015f\u0131nda ABD dolar\u0131n\u0131 \u0130ngiliz sterlinine \u00e7evirirsek: 1.000.000 \/ 1,3535 = 738.825,27 \u0130ngiliz sterlini <br>Yar\u0131m y\u0131l boyunca yat\u0131r\u0131lan \u0130ngiliz sterlininin anapara ve faiz toplam\u0131: 738.825,27 <em>(1 + 3,6% \/ 2)=752.124,12 sterlin. Yar\u0131m y\u0131l sonra, anla\u015f\u0131lan vadeli d\u00f6viz kuru \u00fczerinden sterlinleri dolara \u00e7evirirsek: 752.124<\/em>, <em>12<\/em> (1,3525 - 0,0050) = 1.013.487,252 dolar<\/p>\n\n<p class=\"wp-block-paragraph\"><br>Bu nedenle, sat\u0131\u015f-sat\u0131n alma arbitraj\u0131 ger\u00e7ekle\u015ftirildi\u011finde 1.013.487,252 - 1.000.000 = 13.487,252 ABD dolar\u0131 kar elde edilir; bu, sat\u0131\u015f-sat\u0131n alma arbitraj\u0131 yap\u0131lmad\u0131\u011f\u0131nda elde edilecek kardan 4.136,676 ABD dolar\u0131 daha fazlad\u0131r.Bunun nedeni, bu \u00f6rnekteki arbitrajda sterlin kurunun 6 ay i\u00e7inde d\u00fc\u015fmesi ve bu durumun arbitraj faaliyetinde kur kayb\u0131na yol a\u00e7mas\u0131d\u0131r; ancak tam da bu noktada vadeli d\u00f6viz i\u015flemi arac\u0131 kullan\u0131larak kur riski sabitlenmi\u015f ve arbitrajdan m\u00fcmk\u00fcn oldu\u011funca fazla k\u00e2r elde edilmi\u015ftir.<\/p>\n\n<p class=\"wp-block-paragraph\"> \u0130lgili \u00d6neriler:<\/p>\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/cn.leverate.com\/forex-carry-trading-strategy\/\"> D\u00f6viz Platformu Kurulumu: D\u00f6viz Faiz Fark\u0131 \u0130\u015flem Stratejilerinin Analizi<\/a><\/p>\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/cn.leverate.com\/forex-futures-arbitrage-trading\/\">D\u00f6viz platformu kurulumunda d\u00f6viz vadeli i\u015flem arbitraj\u0131n\u0131n t\u00fcrleri ve tan\u0131t\u0131m\u0131<\/a><br>MT4, MT5 ba\u015fvurular\u0131n\u0131z s\u00fcrekli reddediliyor mu? <a href=\"https:\/\/cn.leverate.com\/sirix-venture\/\">Sirix-Venture\u2019\u0131n d\u00fc\u015f\u00fck maliyetli \u00e7\u00f6z\u00fcmlerini ve \u00fcst d\u00fczey teknolojisini tercih edin<\/a><br>Sirix White Label + LxFeed + CRM + web sitesi; MT4 ve MT5 ba\u015fvurular\u0131n\u0131n reddedilmesini \u00f6nleyin; daha basit ve sezgisel bir aray\u00fcz, daha d\u00fc\u015f\u00fck fiyatlar, daha y\u00fcksek yetkiler<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vadeli d\u00f6viz ticareti, d\u00f6viz al\u0131m-sat\u0131m taraflar\u0131n\u0131n \u00f6nceden bir d\u00f6viz s\u00f6zle\u015fmesi imzalayarak, gelecekte belirli bir zamanda teslimat\u0131n ger\u00e7ekle\u015ftirilece\u011fini kararla\u015ft\u0131rd\u0131klar\u0131 bir i\u015flem \u015feklidir.<\/p>\n","protected":false},"author":29,"featured_media":101352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[341],"tags":[],"class_list":["post-103173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-is"],"acf":[],"_links":{"self":[{"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/posts\/103173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/comments?post=103173"}],"version-history":[{"count":1,"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/posts\/103173\/revisions"}],"predecessor-version":[{"id":103174,"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/posts\/103173\/revisions\/103174"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/media\/101352"}],"wp:attachment":[{"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/media?parent=103173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/categories?post=103173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leverate.com\/tr\/wp-json\/wp\/v2\/tags?post=103173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}