AUTHORIZATION of INTERMEDIARY INSTITUTIONS

 

 

Intermediary institutions may trade on capital markets provided they bear the qualifications specified in the Capital Market Law and respective communiqués and are authorized by the Capital Markets Board.

While the branches and agencies of intermediary institutions are subject to approval by the Capital Markets Board, the branches of banks are subject to approval by the Banking Regulation and Supervision Agency.

Intermediary institutions with an authorization given by the CMB to engage in brokerage activities may be registered as members to the Exchange. Although they are not obliged to trade on all markets of ISE, Exchange members may be authorized to trade on more than one market. Members have to deposit a collateral determined for each market where they are to operate. Markets where members are allowed to trade are shown below:

 

• Stock Market
• Emerging Companies Market
• Bonds and Bills Market
• Repo- Reverse Repo Market
• Odd-lot (Over-the-counter Trading)
• Foreign Securities Market International Bond Market 

 

Exchange members may trade through their representatives on ISE markets. The Exchange provides training for the ISE Member representatives designed specifically for the type of the market in which they operate. Only those persons who have successfully completed the training programs and fulfill the qualification laid down by the respective legislation are allowed to trade on ISE markets.