History of Sakarya Commodity Exchange
As of the end of the 19th century, Adapazarı, one of the most important trade and agricultural cities of the Ottoman Empire, entered the 20th century with a significant economic accumulation. It was the most brilliant city of the district to which it was administratively affiliated in terms of economic, socio-cultural and population.

The economic size of Adapazarı led to the establishment of one of the first ten stock exchanges of Turkey in this city. Sakarya Commodity Exchange was established under the name Adapazarı Grain Exchange for the purchase and sale of grain, cereals and flour by Adapazarı merchants and residents. Our exchange was established on 18 April 1925 in accordance with the General Stock Exchange Regulation dated 10 Recep 1303 (14 April 1886).

Flour and Grain Merchant Kandirali Hafız Mustafa in Adapazarı Unkapanı

Grain Seller Mehmet Niyazi-In Adapazarı Unkapanı

The decree regarding the opening of the Adapazarı Trade and Grain Exchange, signed by President Gazi Mustafa Kemal and the Council of Ministers on April 18, 1925, was as follows;

“It has been decided to implement the Adapazarı Commodity Exchange in full and the copy of the notification letter to be transferred to the exchanges in accordance with the regulation dated 2 April 302 regarding the exchanges to be transferred with the memorandum numbered 37/10447 of the Trade Directorate dated 18/2/341 and the regulation enforcement deputies of the Ministry of Commerce regarding the Trade and Grain Exchange in full in Adapazarı, in accordance with the regulation dated 19/2/341. 18/2/341 (18 April 1925)

President of the Republic of Turkey, Gazi Mustafa Kemal (Signature)

Prime Minister and Minister of National Defence (Signature), Minister of Justice (Signature), Minister of Navy (Signature), Minister of Internal Affairs (Signature), Minister of Foreign Affairs (Signature), Minister of Finance (Signature), Minister of Public Works (Signature), Minister of Agriculture (Signature), Minister of Commerce (Signature), Minister of Health and Social Assistance (Signature)

The establishment decree of the Adapazarı Commodity Exchange signed by Gazi Mustafa Kemal

One of the first stock exchanges in our country, the Adapazarı Commodity Exchange was established on April 18, 1925, by the decision of President Gazi Mustafa Kemal and 11 cabinet ministers, based on the letter of the Ministry of Trade dated April 8, 1925.

When it was established, the bylaws of the Adapazarı Commodity and Grain Exchange consisted of 22 articles.

It was required that merchants and brokers who would register to trade in the Adapazarı Grain Exchange be registered with the Adapazarı Chamber of Commerce and Industry and act in accordance with the law. Merchants who were subscribers to the exchange could only trade on their own behalf, while merchants who were not subscribers could not enter the exchange.

According to a decision dated May 31, 1925, it was decided that the regulations applied in the Adapazarı Grain Exchange would also be applied to the exchange to be established in the Biga district. The decree regarding the decision of the President of the Republic of Turkey, Gazi Mustafa Kemal and the Council of Ministers stated the following:

“Addendum to the decree numbered 1702 dated 19/2/341.

It was approved and accepted at the meeting dated 31/5/341 regarding the implementation of the instructions currently being implemented in the Adapazarı Grain Exchange in the exchange to be established in the Biga district upon the proposal of the Chamber of Commerce dated 31/5/341 and numbered 2624/116 of the Trade Directorate. 31/5/341 (31 July 1925)

President of the Republic of Turkey, Gazi Mustafa Kemal (Signature)

Prime Minister, Minister of Justice, Minister of National Defense, Minister of Navy, Minister of Internal Affairs, Minister of Foreign Affairs, Minister of Finance, Minister of Education, Minister of Public Works, Minister of Agriculture, Minister of Trade, Minister of Health and Social Assistance[1]”

In the second article of the instructions of the Adapazarı and Biga stock exchanges dated 2 May 1928, it was stated in order to express the extension of the stock exchange transactions to the villages and surrounding farms: “Those who buy grain, cereals and flour in farms and villages where there is no Grain Exchange shall report the type and price of the goods they buy to the stock exchange committee with a declaration.” This situation caused difficulties in carrying out transactions and was not beneficial either. It was decided to change the stock exchange transactions since it was not a purpose for the stock exchanges to cover the villages.

In 1925, the stock exchange earned 3836 liras 17 kuruş in its first year of operation. Its expenses were 3697 liras 18 kuruş. During this period, the Chamber of Commerce was the largest source of income for the Chamber of Commerce.

The world economic crisis in 1929 also affected Turkey. The state took measures in many areas and many stock exchanges were affected by this situation. On December 12, 1931, the Adapazarı Trade and Grain Exchange was abolished and its money and belongings were transferred to the Adapazarı Chamber of Commerce and Industry.

After the end of World War II, economic developments for Turkey had become even more positive. In Sakarya, which became a province in 1954, it was essential to establish a Commodity Exchange. Ultimately, the Sakarya Commodity Exchange was re-established on February 19, 1957, with the approval of the Ministry of Trade on February 18, 1957, as a result of the initiative of merchants trading agricultural products in our province, and began operating on April 15, 1957. During this period, the Adapazari Commodity Exchange had 215 members and 5 professional committees. This organization, with its members from various professional branches, brought vitality to the commercial life of the province.

In 1957, the Adapazari Broom Exchange also began operating. On September 16, 1965, the Adapazari Commodity Exchange established a wholesale potato market. In addition to potatoes, onions, squash and broom wire would be bought and sold in this market.

The second establishment document of Sakarya Chamber of Commerce

Sakarya Chamber of Commerce began providing service in 1957 in a building that was the property of Sakarya Chamber of Commerce and Industry. Later, by renting a 5-acre land behind the bus garage belonging to Adapazarı Municipality, shops were established for tradesmen and producers who made potatoes, onions and pumpkin seeds with their own means on the 5-acre land and started to trade in the Stock Exchange.

In 1977, when the Potato Production and Consumption Cooperative in Erenler established a Potato Market with an agreement with the Stock Exchange, the tradesmen in the garages were transferred here and the shops of the Stock Exchange were rented to broom manufacturers and broom grass was taken into the trading in the Stock Exchange. Thus, our Stock Exchange started to trade in both potatoes, onions and pumpkins and broom grass in the hall. However, as a result of the inadequacy of 3 buildings, in 1975, construction was made on 4 of our shops in Erenler Potato Market and the office space was brought here. Our stock exchange continued its activities in the same place until 1999. In 1992, as a result of the necessary importance given to stock exchanges by our government and the understanding of the benefits of stock exchanges, after the issuance of the circular numbered 164 regarding the joint liability of stock exchanges, our capacity increased by 100% and a need arose to build a new stock exchange area.

Again, our stock exchange purchased 30 acres of land on Tekeler Neighborhood Ring Road with its own means and started the construction of the Grain Sellers and Süpürgeciler Site with 3 buildings, trading halls, social facilities and 132 shops. This construction was completed in a short period of 4 years and our stock exchange started its activities by transferring the administration building in Erenler to the current location on April 19, 1999. It carries out the intra-exchange purchase and sale of the herb in its facilities located on the Tekeler Neighborhood Ring Road.

We would like to thank Resul Narin for his efforts in preparing the history of our stock exchange and publishing its resources.