Services Related to On-exchange Transactions

The settlement of trades of stocks, exchange traded funds, corporate debt securities that take place in various markets of the ISE are run by Takasbank on a participant basis. In the securities leg of the related operations, Takasbank pool accounts are used. Process is run through the integrated system that is established between CRA and Takasbank. After the ISE sends the daily transaction information to Takasbank, the netting operations on the basis of participants, investors and securities are undertaken by Takasbank, the net transaction information is then sent to CRA on the night of the transaction day. Based on the received information, the reflection of the operations that take place on participant basis with respect to securities is made by CRA.

On the settlement day, the securities with the intention of closing the security liabilities, starting from the owner account, are first sent to the intermediary institution pool accounts and then to the Takasbank pool accounts. Similarly, the securities that will be distributed from Takasbank follow a route from pool accounts to the right owner account. The related operations are executed with full electronic processes.

The settlement process with regard to corporate debt securities are completed with securities transfers by the participants to/from the related pool accounts.

Mutual Fund Transfers

Transactions by mutual fund issuers are reflected to CRA on a right ownership basis with specially developed applications.

Issuers, on the precondition of meeting the trading orders coming from other CRA participants that are authorized, have the opportunity to execute the transfer of mutual funds automatically.

Securities Transfers

The transfer of capital market instruments, for which CRA provides custody services, between right owner investors is conducted by participants.

The execution of the related transfer on the system, without being bounded to cash or any other counterparty, is supplied with free securities transfer. If simultaneous delivery versus payment principle is run during the transfer, the DVP application is used.

DVP operations are concluded with the instructions that are forwarded by participants to Takasbank, through automatic processes by using the integrated system that is established between CRA and Takasbank.