MKK (https://www.mkk.com.tr/en/) is the central registry and securities depository of Turkey who is responsible for the central custody and dematerialization* of capital market instruments, monitoring these instruments and the rights attached on them on both membership and ownership basis electronically, and holding these securities centrally.
Currently, company stocks traded on Borsa İstanbul, exchange funds, mutual funds, government debt securities, private sector debt securities, asset backed securities and sukuks are electronically monitored by the MKK.
The clearing and settlement of the transactions pertaining to aforementioned capital market instruments traded on Borsa Istanbul is performed through the integrated system established between Takasbank and the MKK.
MKK is considered as a securities settlement system since it provides the necessary infrastructure for clearing and settlement operations regarding the transfer of securities among its participants.
The MKK was granted an operating license as a securities settlement system operator by the CBRT’s decision No. 10160/19759 dated June 12, 2015, and this decision was published on the Official Gazette No. 29391, dated June 19, 2015.
*Dematerialization is the electronic recording of capital market instruments, instead of storing them in a physical form, without any change in their qualities and associated rights.