FEAS Yearbook FEAS Yearbook 2010 | Page 38

FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT JUNE 2010 CENTRAL REGISTRY AGENCY INC. CRA is the Central Securities Depository of Turkey for dematerialised capital market instruments that are traded in Turkish capital markets. Dr. Yakup Ergincan CEO Central Registry Agency Inc. (CRA) is the Central Securities Depository of Turkey for dematerialised capital market instruments - equities, mutual funds, exchange traded funds, corporate bonds, commercial papers and bank bonds- that are traded in Turkish capital markets. CRA was established in accordance with the Turkish Capital Markets Law in 2001, and it became fully operational on November 28, 2005 -the date when all equity certificates traded at the Istanbul Stock Exchange became dematerialised. Between April 2005 and March 2006, all mutual fund certificates were dematerialised at the CRA platform. In August 2006, after approximately 5 years, first corporate bond in Turkish Capital Markets was issued through CRA. All transactions regarding dematerialised capital market instruments, such as opening of investor accounts, transfer of securities for settlements, transfer of securities as collaterals, corporate actions, legal operations and reporting, are conducted by CRA participants via the central registry software, CDS, a proprietary software developed in-house. Issuers as participants of CRA, can benefit from all custody services for non-floating shares. CRA also offers a full range of corporate action facilities including rights issues, interest and dividend distributions, stock splits, conversions and mergers enabling issuers to deliver new securities and cash to investors. Investor services are a key element of our business. As such, we provide account information and market statistics to investors via our WebInvestors portal, e-CAS, SMS, IVR and call center. We also provide shareholder services for general meetings. CRA manages and represents the Investor Protection Fund, a crucial tool in constituting investor confidence in Turkey. Our tasks involve, conducting all the formalities on behalf of the Fund according to the applicable regulatory provisions and implementing liquidation formalities of intermediary institutions, which are subject to administrative liquidation per the Capital Markets Board of Turkey (CMB) resolution. CRA also acts as the securities agent for on- exchange settlements of equities traded at the ISE and real time settlements of equities for Securities Lending and Borrowing facility of Takasbank. CONTACT INFORMATION Address Askerocagi Cad. Suzer Plaza No: 15 Kat: 3 34367 Elmadag/Istanbul Tel +90 (212) 334 57 00 Fax +90 (212) 334 57 57 Contact Name Mr. Ozgur Uysal E-mail [email protected] Website www.mkk.com.tr PAGE 34 CRA continues to increase the variety of its products and services. Since the end of the dematerialisation process for physical equities and mutual funds CRA has been working to extend the range of assets held in its electronic book-keeping system. We are also working on joint projects with our partners which will bring about necessary improvements to the Turkish capital market infrastructure in order to conform to international sector standards in technology and custody services. As a member institution, CRA has been actively participating in various working projects and information sharing networks within international industry associations such as the Association of European Central Securities Depositories (ECSDA) and the International Securities Services Association (ISSA). Our experts closely monitor the harmonisation efforts in the European post-trade sector and the ongoing post-crisis standard setting at global level. Furthermore, as an affiliate member of the Federation of Euro-Asian Stock Exchanges (FEAS) our depository contributes to the development of capital markets in the region by bringing our expertise and technological know-how into various collaborations with regard to the regional post-trade industry.