FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT JUNE 2013
Merkezİ Kayıt Kuruluşu
2013 was a year of international acclaim for
MKK’s technology intensive services such
as e-GEM
Assoc. Prof. Yakup Ergincan
CEO and Board Member
MKK’s value-added services and technology
intensive projects have received many
accolades from local and international
organizations all through 2013. The Electronic
General Meeting (e-GEM), a pioneering
application which enables electronic
participation to general meetings, e-proxy
assignment and e-voting, and real-time
information exchange between shareholders
and companies, was awarded the “Best Use
of Online Services” award by the Financial
Sector Technologies (FStech) magazine
in January 2013. This award established
international recognition of MKK’s cutting-edge
IT infrastructure and software development
capabilities. Furthermore, MKK was authorized
as an R&D Center by the Ministry of Science
and Technology of Turkey in consideration to
its high level capacity in developing technology
intensive projects.
HISTORY AND DEVELOPMENT
MKK was established in accordance with
the Article 10/A of the former Turkish Capital
Markets Law in 2001 as the central depository
for and registrar of dematerialized capital
market instruments with respect to issuers,
intermediary institutions, and beneficial owners.
As an exception to the beneficial owner basis
account structure, (I)CSD’s are allowed to open
omnibus accounts at MKK. Equities traded at
Borsa Istanbul, government debt securities,
mutual funds, exchange traded funds, corporate
debt instruments, warrants, certificates,
e-warehouse receipts, covered bonds, asset
backed securities and sukuks are held at MKK
in dematerialized form.
All depository operations regarding
dematerialized capital market instruments (e.g.
opening of investor accounts, corporate actions,
and securities issuance) are conducted by
MKK participants via the Central Dematerialized
System (CDS), an in-house developed
proprietary software. MKK also acts as the
securities agent for settlement of securities
traded at Borsa Istanbul, holds e-warehouse
receipts on a number of agricultural products
and provides services for issuers and
investors through the e-MKK Information
An important project of the MKK R&D Center,
e-DATA: “Capital Markets Data Bank” project,
was granted the “Best Big Data Project in
Financial Sector” award by International Data
Corporation (IDC). In 2013, MKK also launched
its e-COMPANY Portal and started providing
“Central Data Bank” services for all public
companies in the context of the new Turkish
Commercial Code. Projects such as e-DATA and
e-COMPANY established MKK as an information
center for capital market participants.
We believe that enhanced communication
between shareholders and companies,
transparency and compliance to global
standards that are brought about by MKK
services will make our capital markets more
attractive for local and international investors
and globally more competitive. Considering
the fact that e-GEM has more than doubled
the number of participants to general meetings
Portal components such as Electronic
General Meeting System (e-GEM), Corporate
Governance and Investor Relations platform
(e-GOVERNANCE) and Companies Information
platform (e-COMPANY).
Form of Securities
Dematerialized
Legal Status
Joint stock company
Type of Commercial Entity
For-profit, user-owned joint stock company
Regulated by
MKK’s overall functions are subject to the
oversight and approval of the CMB.
Ownership
30.1% Borsa Istanbul A.S.
64.9% İMKB Settlement and Custody Bank
(Takasbank)
5% The Association of Capital Market
Intermediary Institutions of Turkey (TSPAKB)
Board of Directors: 9 Members
Takasbank: 2
Borsa Istanbul A.S.: 3
TSPAKB: 1
Ministry of Customs and Trade:1
in Turkey in only a year we think MKK has a lot
more to offer in raising the level of corporate
governance in Turkey and improving the quality
of our financal market infrastructure.
In 2013, the Turkish capital market continued its
trajectory of growth with issuance of new types
of instruments such as ijara certificates (sukuk).
Besides these capital market instruments
MKK started issuing and holding electronic
warehouse receipts on cotton with an aim to
integrate the agricultural and financial sector.
MKK plans to cooperate with foreign
counterparties in adapting and implementing
e-MKK Information Portal components for the
use of international capital market participants.
In this way, we will foster the transformation of
Istanbul into a global financial center in the near
future.
Independent Member: 1
MKK: 1 (CEO of MKK)
Memberships to International Organizations
• European Central Securities Depositories
Association (ECSDA)
• International Securities Services Association
(ISSA)
• FEAS
• Organisation of Islamic Cooperation (OIC)
FUTURE OUTLOOK
In 2014 MKK plans to achieve the following:
• New software for the Public Disclosure
Platform (PDP 4.0) will be developed
following PDP’s transition to MKK.
• MKK will start providing electronic board
meeting services to all public companies
besides the listed ones.
• As part of MKK’s e-DATA services, new
indices and statistics are planned to be
launched such as the Attachment Index.
• As part of the e-Warehouse Receipt project,
MKK plans to offer services for new product
groups.
• Investment institutions will be made eligible
for membership on MKK’s e-GOVERNANCE
portal.
* Please refer to page 51 for the Turkey country report.
CONTACT INFORMATION
Contact Name Mr. Gokce Iliris
E-mail [email protected]
Website www.mkk.com.tr
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