Merkezi Kayıt Kuruluşu (MKK) and Clearstream Facilitate Direct Access to Turkish Capital Markets

• Turkish CSD and Clearstream ICSD to offer enhanced access to Turkish capital markets
• Global investors get direct access to Turkish government debt securities
• New link is part of Clearstream’s strategy to broaden market connectivity in Europe and globally

The Turkish central securities depository and trade repository, Merkezi Kayıt Kuruluşu A.Ş. (MKK), and the international central securities depository (ICSD) Clearstream Banking S.A. will open a direct route between the two parties enhancing the existing indirect setup. The connection will facilitate the settlement and custody of Turkish government debt securities, issued through the Central Bank of Türkiye, via an omnibus account structure. Clearstream’s local partner, TEB Securities Services, will act as account operator. Go-live will be on September 29.

Foreign investors will have broadened access to Turkish capital markets, enabling them to hold Turkish government debt securities in an omnibus account instead of segregated accounts as per the existing setup. Clearstream will continue to support Turkish equities and corporate bonds via the existing segregated account structure, in addition to the new omnibus account structure for Turkish government debt securities.

Jan Willems, Head of Global Markets at Clearstream, commented: “This new investment link is part of a larger strategic initiative at Clearstream to improve operational excellence through direct market access, as well as providing our clients with enhanced asset protection. This model is designed to empower our clients for more efficiency and to offer them globally the best-in-class setup and securities service quality they seek.”

Dr. Ekrem Arıkan, CEO and Board Member of MKK, commented: “We are pleased to open this direct inter-CSD connection between Clearstream and MKK. This is a significant milestone in our ongoing efforts to integrate Türkiye’s capital markets with the global financial system. Through the link, foreign investors will benefit from simplified, secure access to our domestic market, which in turn will improve liquidity and broaden international participation in Turkish securities. This collaboration demonstrates the strong appeal of the Turkish market to international investors, and we are confident that it will further support the ongoing growth of Türkiye’s capital markets.” 

Bahar Sirin Akkopru, Head of Securities Services and TRY Cash Clearing Division at TEB, BNP Paribas’ Securities Services business in Türkiye, added: “TEB and Clearstream have had a successful partnership for the past 13 years in Türkiye which we build on through this new offering together with MKK. We are very pleased to support international investors by providing them with even easier access to the Turkish market now.”

[Editorial note: Please find here a high-resolution photo of Jan Willems.]
[Editorial note: Please find here a high-resolution photo of Dr. Ekrem ARIKAN.]

About Clearstream
Clearstream is the innovative and trusted post-trade business for the global markets. It runs the leading securities and funds servicing ecosystems of tomorrow. 

The company operates the German and Luxembourg central securities depositories and an international central securities depository for the Eurobonds market. With 20 trillion Euros in assets under custody, it is one of the world’s largest settlement and custody firms for domestic and international securities. 

It also delivers premier fund dealing, distribution, digital and data services, covering over 55 fund markets worldwide. 

Clearstream is part of Deutsche Börse Group, an international exchange organisation and provider of innovative market infrastructures.

To learn more, visit us at www.clearstream.com or connect via LinkedIn.

About Merkezi Kayıt Kuruluşu A.Ş. (MKK)
Merkezi Kayıt Kuruluşu A.Ş. (MKK) is the Central Securities Depository (CSD) and Trade Repository (TR) of Türkiye for all dematerialized capital market instruments. It operates under the supervision of the Capital Markets Board of Türkiye and has been authorized by the Central Bank of the Republic of Türkiye as the national securities settlement system operator since 2015.

Recognized as an R&D center, MKK has developed award-winning digital platforms such as the Electronic General Meeting System (e-GMS), which has been adopted internationally. It also provides a wide range of corporate governance and post-trade services through in-house developed platforms such as the Public Disclosure Platform (KAP) and Electronic Board of Directors System (e-BDS), enabling secure and transparent digital corporate operations.

MKK is an active member of global industry associations and has established strategic links with several foreign CSDs to promote cross-border connectivity and integration of Türkiye’s capital markets into the global financial ecosystem.

To learn more, visit us at www.mkk.com.tr or connect via LinkedIn.

About Türk Ekonomi Bankasi A.Ş.
Türk Ekonomi Bankası (TEB), a reputable institution in the Turkish market, was established in 1927. Since its establishment, TEB, with its expanded network of branches and a diversified range of products and services, has pursued operating in various fields of the financial sector as investment, leasing, factoring and portfolio management.

In 2005, BNP Paribas, a leader in banking and financial services in Europe and currently operating in 64 countries, became a partner of TEB. In the wake of this partnership, TEB carried its expertise in corporate, commercial and private banking over into the fields of retail banking, small business banking and SME banking. 

TEB Securities Services is active in Turkish market since 2007, in line with BNP Paribas’ Securities Services business line, with a variety of products such as local custody and clearing, TRY cash clearing, Account Operator services, listed derivatives services, Issuing and Paying Agent for Warrants and fund custody and fund services for local portfolio management companies.