On This Page:

ISE Recognitions

ISE Memberships

Takasbank Recognitions

Takasbank Memberships

Istanbul Stock Exchange (ISE)

RECOGNITIONS

SEC - U.S. , JSDA - Japan,

Austrian Ministry of Finance

MEMBERSHIPS

WFE, FEAS, ISSA, ICMA, ECMI, IOSCO

ISE Settlement and Custody Bank (TAKASBANK)

RECOGNITIONS

SEC - U.S., SFA- U.K., JSCC - Japan, JASDEC - Japan

MEMBERSHIPS

ANNA, ISSA

Istanbul Stock Exchange - Recognitions

In October 1993, the ISE was recognized as a "Designated Offshore Securities Market" by the U.S. Securities and Exchange Commission (SEC).

On May 9, 1995, the Japan Securities Dealers Association (JSDA) officially designated the ISE as an "appropriate foreign investment market for the private and institutional Japanese investors."

The Istanbul Stock Exchange (ISE) has been approved by the Austrian Ministry of Finance as a regulated market in accordance with the regulations of the Austrian Investment Fund Act. This approval will facilitate it for Austrian funds to invest in the ISE.

Istanbul Stock Exchange - Memberships

The ISE is a full Member of "The World Federation of Exchanges" (WFE),  "Federation of Euro-Asian Stock Exchanges" (FEAS), "International Securities Services Association" (ISSA), "International Capital Market Association" (ICMA), "European Capital Markets Institute" (ECMI)  and an affiliate member of “International Organization of Securities Commissions” (IOSCO).

The World Federation of Exchanges (WFE), based in Paris, is an international organization whose main objective is to provide for the efficient, fair and secure promotion of national markets through the establishment and maintenance of functional standards for member exchanges as well as to promote the co-operation in establishing adequate standards for transnational issuing, trading and settlement. Members of WFE are required to comply with the “Generally Accepted Principles of Securities Trading” determined by the WFE General Assembly.

A non-profit regional federation was established at the initiative of the Istanbul Stock Exchange under the title of "Federation of Euro-Asian Stock Exchanges" (FEAS) in Istanbul with an aim to encourage cooperation among the members towards promoting the development of their respective securities markets; acting as a representative of the members vis-à-vis other federations and associations of stock exchanges in the world; promoting the development of more integrated international stock exchanges in the region and offering listing and trading opportunities for securities issued in the region. The FEAS Charter was signed by the presidents of the participating stock exchanges on May 16, 1995. FEAS members elected Istanbul as the headquarters.

ISSA, International Securities Services Association, is an international association registered under Swiss Law in Zurich, whose main mission is to promote progress in securities administration, to contribute to a common language among and to open up communication channels between securities administrators, to develop personal contacts among securities administrators and to enlarge the professional knowledge of securities administrations. Members of ISSA include institutions such as banks, clearing organizations, central depositories, stock exchanges, brokers and asset managers.

ICMA, International Capital Market Association, is the self-regulatory body and trade association for the international securities market. Its purpose is to oversee the orderly functioning of the market and to represent the interests of its members on issues affecting the markets. The Association maintains an increasingly visible role within the European financial community and has made a constructive contribution towards shaping the Investment Services Directive (ISD) and the Capital Adequacy Directive (CAD).

ECMI, European Capital Markets Institute, serves as a central forum for academics and practitioners in which ideas and opinions concerning the functioning of the markets can be exchanged. Its principal purpose is to conduct researches relating to cross-border activities and investments and the functioning and growth of the European capital markets. ECMI members include institutions, associations and corporations in the financial sector as well as leading universities and business schools.

IOSCO, is a member organization formed to promote high standards of regulation in order to maintain just, efficient and sound markets; exchange information on the respective experiences of the members in order to promote the development of domestic markets; establish standards and an effective surveillance of international transactions; promote the integrity of the markets by a rigorous application of the standards and by effective enforcement against offenses. The main regulatory body, CMB, is the member whereas the ISE is the affiliate member of the IOSCO.  

ISE Settlement and Custody Bank (TAKASBANK) - Recognitions

Following its recognition as the sole and exclusive central depository in Turkey by the Capital Markets Board, the ISE Settlement and Custody Bank, Inc. (Takasbank) was approved by the U.S. Securities and Exchange Commission (SEC) as an “Eligible Foreign Custodian” on January 24, 1995.

On July 5, 1995 Takasbank was accepted as an “Approved Depository” by the Securities Futures Authority (SFA), London. Following the transformation into a bank, Takasbank was also recognized as an "Approved Bank" by the SFA on January 30, 1996.

Following the designation of the ISE as an appropriate foreign investment market by the Japan Securities Dealers Association (JSDA) on May 9, 1995 the Japan Securities Clearing Corporations (JSCC) and Japan Securities Depository Center (JASDEC) recognized Takasbank as an eligible depository conforming to the standards predetermined by these institutions.  

ISE Settlement and Custody Bank (TAKASBANK) - Memberships

Takasbank is a member of the Association of National Numbering Agencies (ANNA) and the International Securities Services Association (ISSA).

Following the recognition as the “National Numbering Agency” by the Capital Markets Board of Turkey on April 6, 1995, Takasbank became a member of Association of National Numbering Agencies (ANNA).

ANNA is an international association with the objectives; to make available to its members and the securities industry as a whole, an International Securities Identification Number (ISIN)in a uniform structure  for use in any application in the trading and administration of securities in the international

Securities  industry; to implement and maintain the international standard ISO 6166(ISIN)as confirmed

by the ISO Council which approved the designation of ANNA as the registration authority for ISIN; to elaborate and maintain internal guidelines enabling the various ANNA members to adhere to the same general procedure for the creation ,modification or deletion of ISINs; and to operate, maintain and develop the Global ISIN Access Mechanism (GIAM) for the intenational identification of securities.