Asset servicing - Turkey

06.09.2019

Income collection

Debt securities

Service offeredRemarks
Notification to customers

Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal, CreationOnline and Xact File Transfer.

See Section 8 “Asset servicing” of the Customer Handbook.

See Connectivity manuals on the Clearstream website.

Payment of proceeds

Interest on bonds are calculated based on the positions recorded at the close of business on the record date and paid to the customer's account in Turkish Lira (TRY) upon successful receipt and reconciliation of funds. Proceeds will be paid  with the value with which they are received. 

Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value.  

The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR.

For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Customer Handbook.

Equities and equity products

Service offeredRemarks
Notification to customers

Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal, CreationOnline and Xact File Transfer.

See Section 8 “Asset servicing” of the Customer Handbook.

See Connectivity manuals on the Clearstream website.

Payment of proceeds

Dividend payments are calculated based on the positions recorded at the close of business on the record date and paid to the customer's account in Turkish Lira (TRY) upon successful receipt and reconciliation of funds. Proceeds will be paid  with the value with which they are received. 

Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value.  

The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR.

No specific deviations from standard reporting provided by CBL apply to the Turkish market. Dual-listed companies may pay cash dividends in a currency other than TRY, in which case proceeds are paid to the customer's account in the currency of payment. 

For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Customer Handbook.

Corporate actions

Service offeredRemarks
Notification to customersNo specific deviations from standard reporting provided by CBL apply to the Turkish market.
Standard reporting.
Instruction to CBL
CBL collects and processes customer instructions for events, such as, but not limited to, exchange offers, purchase offers, bonus issues, rights issues etc.

Proxy voting procedures

Proxy voting services are available in CBL for this market. Every shareholder is entitled to vote at annual or extraordinary general meetings. No restrictions are imposed on foreign shareholders and investors’ shares are not blocked for voting.

TEB would generally cast customers’ votes via the MKK’s Electronic General Meeting System (e-GEM).

Customers who want to physically attend a meeting must apply for an access card by sending an authenticated instruction to CBL with all the information concerning the person who will attend the meeting (name, full address, date and place of birth, passport number).

Entitlement compensation rules

Please refer to the Entitlement Compensation Rules - Turkey.