ANNUAL REPORT 2015
FEDERATION OF EURO-ASIAN STOCK EXCHANGES
MERKEZİ KAYIT KURULUŞU (MKK)
In 2014, MKK has transformed its business model as a sole provider of
core CSD services into a fully fledged technology company.
Assoc. Prof. Yakup Ergincan
CEO and Board Member
In 2014, MKK has transformed its business model
as a sole provider of core CSD services into a
fully fledged technology company. In this new
phase of MKK’s history, which we define as “MKK
3.0”, we aim to enhance our portfolio of value-
added products and services, besides operating
an efficient and cost effective capital market
infrastructure for the benefit of our stakeholders.
One other main objective of MKK, in line with the
Istanbul International Financial Center Project,
will be to export its in-house developed software
and applications, and implement these systems in
foreign markets through international agreements
and integration projects.
MKK’s agreement with NASDAQ OMX last year
for the sales and marketing of our Electronic
General Meeting System (e-GEM) to 17 countries
will play a pivotal role in achieving our strategic
objectives. As one of the most advanced corporate
governance applications in the world, e-GEM
has proved its merit and the system attracted
attention of participants from major global capital
markets. Operations of the primary information
platform on publicly traded companies in Turkey,
the “Public Disclosure Platform”, was transferred
from Borsa Istanbul to MKK in March 2014 as per
CMB’s authorization. This move has created a great
opportunity for us to initiate a new project, PDP 4.0,
to improve the PDP system and integrate it with
e-MKK platforms. The project, when completed, will
enable us to establish a fully automated system for
the distribution of corporate actions notifications
to end-investors in XBRL format and via ISO 15022
and 20022 based messages.
MKK continued to raise the level of its value
added services in 2014. Following the issuance of
electronic warehouse receipts on cotton in 2013, we
issued e-warehouse receipts on wheat, barley and
unshelled rice. As part of the Capital Markets Data
Bank project (e-DATA), we initiated development
of new market indices through agreements signed
with two universities.
One major project MKK initiated in 2014 was about
establishing a trade repository to monitor systemic
risk and maintain financial stability of our capital
markets. We will initially begin with reporting
over-the-counter derivatives and extend our
repository services for transactions in other capital
market instruments. MKK concluded the year with
the initiation of two other major projects, namely
the Electronic Share Registry System (e-SRS),
which aims to dematerialize the shares of all joint
stock companies, and the Leasing Registry System
(e-LRS), with which our organization will become
a technology-based solution provider on financial
leasing contracts.
These developments provide MKK an opportunity to
introduce its services to other markets in the world
and become a global brand name in value-added
services and products in post-trade industry. In this
regard, we are determined to stay on the course
to minimize our revenues from core CSD services
hence greatly contribute to the growth of our
capital markets and economy.
General Information
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.
As an operator of a securities settlement system
(SSS) MKK is under supervision of the Central Bank
of Turkey.
Ownership
30.1% Borsa Istanbul A.S.
64.9% Istanbul Settlement and Custody Bank
(Takasbank)
5% Turkish Capital Markets Association
Board of Directors:
9 Members;
Takasbank: 2, Borsa Istanbul A.S.: 3, Turkish Capital
Markets Association: 1, Ministry of Customs and
Trade:1, Independent Member: 1, MKK: 1 (CEO of
MKK)
Memberships to International Organizations
ECSDA, ISSA, FEAS, AMEDA, AECSD
FUTURE OUTLOOK
In 2015 MKK plans to achieve the following:
• A
Trade Repository platform will be established
for reporting of transactions between financial
companies in OTC derivative instruments.
• The Public Disclosure Platform (PDP 4.0) will be
upgraded with new modules that will improve
the system and implement a fully automated
system in corporate actions notifications via ISO
15022 and 20022 messages.
• In scope of the letter of intent signed with
NASDAQ OMX on the global sale of e-GEM, MKK
plans to implement the system in at least one
foreign market. The Electronic Board of Directors
Meeting System (e-BDS) project will be resumed.
• New links will be established with foreign CSDs
where MKK will act as the issuer CSD.
ABOUT MERKEZİ KAYIT KURULUŞU
Established: 2001
Chairman: Murat Ulus
Address: Askerocagi Cad. Suzer Plaza No: 34367
Kat:3 Sisli-Istanbul Turkey
Contact name: Mr. Bora Karaagacli
E: [email protected]
W: www.mkk.com.tr
AFFILIATE MEMBERS
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