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MERKEZİ KAYIT KURULUŞU:CENTRAL SECURITIES DEPOSITORY OF TURKEY
WFC Meeting – Cancun 2015
MKK in Brief Central Securities Depository of Turkish Capital Markets for all dematerialized
securities Turkish capital market is fully dematerialized Beneficial-owner based system with the opportunity of having «omnibus accounts» for foreign
CSDs & ICSDs (~25 million investors - 45 million accounts) System integration with «Ministry of Internal Affairs» & «Ministry of Finance»
Supervised & Regulated by the Capital Markets Board of Turkey (CMB) and Central Bank of Turkey
Officially Licensed by Turkish Government as «R&D Center» In-house developed depository system (CDS) & Investor Services (under e-MKK Portal)
Direct Link with the Austrian CSD – OeKB
Officially Authorized by the CMB to establish a «Trade Repository» Target Live: Date Q1 2016
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e-CAS : Investor Notification
Random Report Delivery
IVR System/ Call Center
Mobile Blockage Electronic Report Posting System
Instant Notifications Account Movements Information on
Corporate Actions
Periodic Notification Portfolio Status
Account Movements
Monthly 10,000 Investors Portfolio Status
Information Portfolio Status Account
Movements Reports
Investor Blockages
AloMKK(444 0 655)
Mobile Services SMS
Electronic Reports(e-mail)
Electronic Notification(SMS & e-mail)
Random Notifications
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e-GOVERNANCE : Corporate Governance & Investor Relations
e-GEM : Electronic General Meeting
e-DATA : Capital Markets Data Bank
Participation to General Assembly meetings by remote access & mobile applications - voting by electronic means
Distribution of capital markets data by econometric models Rise (Investor Risk Appetite Index)
Communication bridge between companies and shareholders
Real time notification of investors regarding the movements in their accounts
e-WAREHOUSE RECEIPT : Electronic Warehouse Receipt Center
Conversion of agricultural products to electronic warehouse receipts
e-COMPANY : Companies Information Portal
Single centre for presentation of data and information on all companies in Turkey
MKK in Brief
Innovation in General..
INNOVATIONIntriguing
Novelty
Out of the Box
Vivid
Appealing
Third-generation
Natty
Adaptable
Imaginative
Obscure
Valiant
Thrilling
www.herinst.org
Innovation in «General Meetings Processes»
High Cost of Complimentaries? «Food & Drinks»
Procedural Constraints?
«Physical Attandance
Obligations»
Lack of Operational Resources?
«Comfy Chairs»
?
Innovation Triggers
"There's a way to do it better—find it" - Thomas Edison
Innovation for us..
Cumbersome GM Processes
Barriers to Cross-Border Voting
Limited Use of Technology
Regulatory Constraints
Compliance to Corporate Governance
Principles
INNOVATE !!!
eGEM; a CSD-specific, multilingual system which is adaptable to local systems (beneficial owner based or hybrid) and practices.
Electronic assignment of proxies, monitoring of resolutions, attendance and voting (before and during the meeting).
Flow of information through a secure electronic environment which would also facilitate ‘STP’ from issuer to end-investor;
Minimizing operational costs attached to general meeting processes (for issuers/investors/custodians/CSDs)
Individual & tailor-made screens for different user types,
Live broadcasting of physical GMs, direct communication between shareholders, proxies and company representatives during the meeting.
Compliance with the Regulations :e-GEM is fully compliant with;
EU Shareholder Rights Directive
Market Standards on General Meetings
Council of Institutional Investors Principles
No shares blockage (Record Date) No shares blockage Accuracy
Convocation 21 daysNo delay for meeting notice (a standard format with considerable amount of info)
Timeliness
Shareholders participation by electronic means Accessibility
Proxy Voting shall be allowed Certainty
Appointing proxy by electronic means
Cost-effectiveness
Voting results (on the 15th day latest)
Electronic Participation Statement / Proxy Appointment
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Meeting Notice
Delivery of the Meeting Notice
Delivery of the Call
BEFORE THE MEETING
HOSTINGFIRM
TRANSFER OF VOICE AND IMAGE
TEXT
DURING THE MEETING
TEXT
Vote/Comment
Years 2012
(Q4 only)2013 2014 2015
(Q1 end)Total
General Meetings
# of GM’s Held 10 405 355 154 924
Max # of GM’s held a day 3 32 33 30 -
Attendance(Investor)
Total electronic attendance 94 13,464 16,625 12,209 42,389
Total physical attendance 105 6,339 5,236 1,792 13,428
Max # of e-attandance 36 756 798 695 -
Physical e-GEM
Statistics...
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PDP is the primary official source of information for Borsa Istanbul companies, who are required to publicly disclose; their
financial statements, any material or other events (Monthly notifications, Net asset value statements, Articles of
Association, Fund Charter, Prospectus, circular, Notifications regarding the mergers, acquisitions and divestures, General
information form of the company, Tender offer information form).
PDP is an electronic system through which electronically signed notifications are publicly disclosed. Notifications are
submitted to PDP through electronic certificates.
GENERAL INFORMATION & STATISTICS
Platform Operational Hours 7/24
Number of Data Vendors Linked to Platform 17
Number of Sub-Vendors Linked to Platform 16
Number of Companies Covered by the Platform 559
Number of Platform Users 3,000
Number of PDP Members 1,532
Number of Notifications Sent in 2014 75,000
Public Disclosure Platform (PDP)
Company Information
Corporate Actions Announcements
COMPANY/ISSUER
Custodians
Intermediaries
Meeting Notice
Meeting Notice
END INVESTOR
Entitlement Date/Record Date
Full STP in all CA Related Notification Processes
ISO15022
ISO20022
ISO15022
ISO20022
Plans for 2015 & Beyond..
«e-GEM» SWIFT Integration for ISO 15022 & 20022 formats
Public Disclosure Platform – PDP Upgrade v4.0
e-GEM Integration
XBRL Compatibility
Implementation of international industry standards in core
(Full STP in Corporate Actions Operations, ISO20022, LEI, etc.)
Maximizing Revenues from Ancillary & Value-Added Services (50%)
Innovative IT Services - Software Development & Distribution
Nasdaq OMX Partnership
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