FAQ

Low risk and cost for all market participants
Savings of millions of dollars every year from certificate printing and issuance expenses
Savings from personnel, custody, insurance, debt/loan costs
The possibility for issuers to have accurate and secure shareholder stock registers
Time and cost advantages in capital increases, dividend payments and communication with shareholders
Zero forged/lost/pilferage risk cost
Shorter, effective and fast settlement process
Efficiency in company-shareholder relationship, convenience in using shareholder rights
Availability of international integration,
Harmonization with international industry standard

According to the regulations, the CMB (Capital Markets Board) determines the eligible capital market instruments for dematerialization.

Mutual Funds:

On 25 April 2005, MKK has started dematerialization of physical mutual fund certificates as a pilot project. Following the succesfull pilot phrase, in 27 June 2005 dematerialization of all mutual funds began. Since that date mutual funds are issued in dematerialized form and distributed to investors through the MKK system. At present, all mutual funds are held in dematerialized form.

Stocks:

On 28 November 2005, stocks that were physically held in Takasbank's system were annulled and transfered to MKK's electronic book entry system on beneficiary owner basis.As of that date only transactions in dematerialized stocks are accepted for settlement.

The stocks that are held in kind at Takasbank and other privately held stocks can also be subject to dematerialization. Investors should hand over their physical shares through intermediary institutions or issuers to Takasbank who conducts the process on behalf of MKK.

Following the dematerialization of all stocks traded at the Borsa Istanbul no physical shares will be printed or delivered in rights and bonus issues of company stocks.

What does “dematerialization” mainly address?

“Dematerialization mainly addresses the meaning of preseving the securities and the rights affixed to them in book-entry form, after the physical existence of the securities is abrogated. To this end, it implies the annihilation of physical certificates of securities and transferring securities to accounts of right owners and holding these securities and rights relate to them in electronic medium.

Dematerialization of Floating/Non-Floating Shares:

Investors are obliged to deliver the securities that are not yet dematerialized and the certificates or other documents that represent these securities, either to the issuers or issuers authorized intermediary institutions, in order to make them kept in book-entry form. You can access information on the institutions authorized by issuers from our website on the “Intermediary Institutions Authorized by Issuer Institutions for Physical Delivery” page under the “Information Center” menu. For companies that are not in the related list, investors should apply only to the issuer.

​Will there be any change or loss in my rights after my shares are dematerialized?

No; upon completion of the dematerialization process, your rights begin to be held in book-entry form, giving you the ability to maintain and use all the rights as the beneficial owner.

ccording to the Article 13 of the Capital Markets Law numbered 6362, rights related to dematerialized capital market instruments shall be monitored by MKK (Merkezi Kayit Kurulusu A.S.) and the records shall be kept in the electronic environment created by MKK.

The duties and authorities of MKK are determined in the article 81 of the Capital Markets Law numbered 6362 as follows;

• "Article 81 - (1) Merkezi Kayit Kurulusu A.S. is a joint stock corporation possessing the status of private law legal entity established in order to realise the operations related to the dematerialization of capital market instruments, to monitor the records of these dematerialized instruments and the rights associated with them in the electronic environment as of members and right holders and, to provide their central custody.
• (2) The establishment, activity, membership, operation and auditing principles of MKK as well as its revenues and dividend distribution principles shall be determined with a by-law to be issued by the Board.
• (3) Apart from the tasks in the first paragraph, MKK shall also perform the following activities:

a) Establishing an electronic platform through which the communication between companies, their partners and investors can be carried out, for the purpose of providing that companies comply with the corporate governance principles included in the Law numbered 6102 and other related legislation

b) Establishing a data bank for the purpose of collecting data related to capital markets at a single center, providing for the utilization of the data according to the principles to be established by the Board

c) Performing other tasks assigned by the Board in the framework of capital market legislation and other related legislation as well as operations required by regulations

ç) Performing the operations regarding the dematerialization of commodity stocks issued by licensed depositories, the monitoring of these stocks and the rights attached to them in a dematerialized form on the electronic environment and the establishment of a platform for them, provided that it is authorized under related legislation

• (4) In the framework of the regulations made by the Board, MKK is authorized to request information and documents from its members regarding matters it deems necessary about the operations and transactions and to perform examinations. Regarding issues in the scope of duties of the MKK, members may not refrain from providing information by relying on provisions in their specific legislation.
• (5) MKK and its members shall be held responsible for the damages incurred by right holders due to incorrect recordkeeping in proportion to their fault.
• (6) The Board is the supervision and surveillance authority of MKK. The Board may request from the MKK and its members to carry out the issues it deems necessary about the monitoring of capital market instruments in a dematerialized form and to send all kinds of information and documents in written format or in the electronic environment upon its request or regularly."

The Article 13 and 81 of the Law and MKK Regulation frames the duties and authorities of MKK. Procedures and principles of the records that are kept within MKK are determined by the Dematerialization Communiqué issued by the Capital Markets Board. The Communiqué regulates the principles on the members of MKK, the nature of the accounts and the transactions and the transaction methods.

The Article 13 of the Capital Markets Law numbered 6362 is as follows;

​"Dematerialization of capital market instruments

• ARTICLE 13 - (1) In principle, capital market instruments shall be issued in the dematerialized form in the electronic environment, without certificates. The Board determines the capital market instruments to be issued in dematerialized form and the rights to be monitored on record; establishes the principles and procedures regarding their dematerialisation as to their types and issuers, the record keeping and the termination of the monitoring of records belonging to issuers who have lost membership conditions.
• (2) Dematerialized capital market instruments shall be kept in accounts created according to name without considering whether they are registered or payable to the bearer. According to the type of the capital market instrument and the nature of its issuer or MKK member, the Board may decide that accounts be kept collectively, without opening an account in the name of the right holder of capital market instruments.
• (3) Rights related to dematerialized capital market instruments shall be monitored by MKK. The records shall be kept by MKK members, in the electronic environment created by this agency. 
• (4) Capital market instruments which are decided to be dematerialized must be delivered according to the principles established by the Board. Delivered capital market instruments shall automatically become invalid. Undelivered capital market instruments cannot be traded on exchange after the dematerialization decision, intermediary institutions cannot provide intermediary services for the purchase and sale of these capital market instruments. 
• (5) The date of the notification made to MKK shall be considered in the claim of the rights towards third parties on capital market instruments monitored on records. 
• (6) Regarding registration share transfer share register by corporations, pursuant to the related provisions of the Law numbered 6102, the records at MKK shall be taken as basis, without the need for further application of the interested parties. 
• (7) Measures, attachments and all kinds of similar administrative and judicial requests with regard to the dematerialized capital instruments shall be carried out by MKK members. Provisions in the related laws regarding the follow-up and collection of receivables for which a notice has been made in the electronic environment shall be reserved."

As per the Article 81 of the Capital Market Law, MKK is a joint-stock corporation with a legal entity status granted under the private law, established to perform transactions related to the dematerialization of capital market instruments, for the purposes of monitoring such dematerialized instruments and their attached rights in electronic media by participants and beneficiaries, providing central custodian services for such instruments and performing other duties assigned by the CMB pursuant to the capital market legislation.

The activity principles of MKK is determined with the Regulation On The Establishment, Operation, Conduct And Audit Principles Of The Central Securities Depository issued by the CMB according to the article 81 of  Capital Market Law.

Where should the notifications from judiciary and administrative authorities regarding the dematerialised capital market instruments be sent?

All requests made by judiciary and administrative authorities in relation to the dematerialised capital market instruments should only be sent to capital market institutions that keep the account of relevant investor in accordance with the article 13th of Capital Market Law.

Who is MKK and what are its duties and responsibilities?
Our institution operates under the supervision and oversight of the Capital Markets Board (CMB). Its establishment, activities, operational, and audit principles are determined by regulations issued by the CMB. MKK is responsible for the dematerialized depository of capital market instruments in an electronic environment in accordance with the Capital Market Law.

Can I perform buy, sell, transfer, etc. transactions through MKK?
Operational transactions such as buying, selling, and transfer must be carried out through your investment institution where your investment account is held.

Can I open an investment account for my child?
Investment account openings are handled by investment institutions.

What does the "e-GKS representative permission" mean?
In the Electronic General Meeting System (e-GKS), in order to be appointed and act as a proxy/representative and perform representation transactions at general meetings, you must first grant representative permission via the e-YATIRIMCI application. This permission can be revoked at any time; however, actual proxy appointments are made within the e-GKS system. Without this permission, shareholders cannot authorize you via the Electronic General Meeting system.

How can I monitor the free float rates?
You can view them via our Data Analysis Platform: https://www.vap.org.tr/

I have settled my lien debt, how can I remove the lien?
Lien imposition and removal transactions are carried out automatically by the relevant tax office through the system. No action is taken by our Institution at this stage. You must contact the relevant Tax Office for such requests.

How can I track my portfolio in the Bearer Shares Registry System (HPKS)?
For shares that have not yet been registered and transferred into the system, investors should contact the issuing company directly. Shareholders can view reports related to their bearer shares via the e-YATIRIMCI application. For all questions regarding the Bearer Shares Registry System (HPKS), you may refer to the MKK website.

I closed my account with your member, but it still appears active in MKK. How can I close it?
Investors cannot directly open, close, or transact accounts within MKK systems. For account closures, please contact your investment institution and instruct them to update the account status in MKK.

How can I track stocks that are suspended from trading?
Our Institution is responsible for the dematerialized custody of capital market instruments traded on the Exchange. For information on suspended stocks, please follow the announcements published on the Public Disclosure Platform (KAP). If the company is bankrupt, you may contact the relevant enforcement office handling the case.

Can I close my records/account in MKK?
According to regulations, investors cannot directly open, close, or transact accounts in MKK systems. Such transactions must be performed through our members (issuer companies, investment institutions, banks, and mutual fund founders).

Is it mandatory to use MKK services / registration password?
To meet investors' needs for information and control over their accounts held at MKK, registration information is generated and communicated to them. This is a mandatory duty under Capital Markets Board regulations.

What services are offered through MKK Communication Center?
You may obtain services such as portfolio account status tracking, investor blocking processes, and reports related to automatic blocking and corporate action entitlements.

Does MKK charge investors commissions for the services provided?
MKK collects the fees specified in its tariff from its members (investment firms, banks, and issuers), not directly from investors. However, our members may reflect these fees to investors. For fee collection and calculation details, please consult your investment institution.

Can I transfer the securities I received through capital increase/dividend distribution?
Yes, you may transfer the securities obtained via capital increases or dividends. The new securities or dividends will be credited to the account where the securities were held on the record date.

I received a message about my MKK registration number. How did MKK obtain this information?
As per Capital Markets Board regulations, our members are required to open corresponding securities accounts at MKK for the accounts they open on behalf of investors.

How can I conduct portfolio inquiry in the event of a death?
If the application is made in person to our Institution or sent via notary, necessary inquiry can be conducted in our records. For inheritance transactions, investors can submit the certificate of inheritance (original or notarized copy), ID photocopy, and a petition in person to our Institution. If submission in person is not possible, the documents must be sent via notary.

How can I register for the e-YATIRIMCI application?
You can register for the e-YATIRIMCI web and mobile applications using your MKK registration number and password, or via your e-Government account. For more detailed information, please refer to the e-YATIRIMCI User Guide.

How can I close accounts that appear active in the e-YATIRIMCI application?
To open or close an investment account, please contact the investment institution where your account is held. If you see an unused investment account in MKK records, you can request your investment institution to mark it as "Inactive."

How can I update my contact information registered in the e-YATIRIMCI application?
You can update your contact details by calling the MKK Communication Center at 444 0 655.

Is there a fee for using the e-YATIRIMCI application?
The e-YATIRIMCI web and mobile applications are free of charge.

How can I view liens placed on my securities?
You can view them under the "My Lien Information" menu in the e-YATIRIMCI application. For details regarding the reason for the lien, please contact the relevant Tax Office or the Social Security Institution (SGK).

How can I check whether I qualify as a qualified investor?
In the web application, you can see your qualification status in the ID and registration information section located at the top right of the homepage. In the mobile app, this can be found under Settings > Contact Information.

How can I update the correspondence (mailing) address registered in your system?
You need to contact the investment institution where your account is held to update your address information.

Why can’t I see the shares I purchased today in the e-YATIRIMCI application?
The shares you purchase appear in our system two business days after the transaction date (T+2).

How can I sell fractional shares (less than 1 lot)?
Records in our system are created by our members, i.e., investment institutions. The sale of fractional balances can also be carried out by your investment institution. Balances less than one share cannot be sold, but they may be transferred to a pool account and removed from your account. For further details, please contact your investment institution.

What is Investor Blockage and how is it used?
Investor Blockage is a service that allows investors to block the securities held in their free sub-accounts at MKK, thereby preventing any transactions on these assets without their explicit instruction. Securities subject to a blocking instruction cannot be transferred out of the relevant account by the investment institution unless the block is lifted.
Blocking can be applied to all securities—except those explicitly excluded by the Capital Markets Board—or only to selected securities, even at a specific quantity level. If an investor wishes to sell securities in a blocked account, the blocking must be removed before placing a sell order with their investment institution.

If securities subject to a capital increase are blocked by the investor, the newly allocated shares will also be recorded as blocked in the account.

Blocking instructions are processed in our system between 03:00 and 08:00 (local time) following your instruction. Instructions given during the day are queued to be executed in the next 03:00 – 08:00 window. However, unblocking can be performed at any time during the day.

I removed the block but still cannot execute a sale – why?
There is no real-time connection between our system and our member institutions (investment firms). Therefore, you may need to remove the block one business day in advance, or contact your investment institution and ask them to retrieve your updated balance from MKK.

The securities I inherited are blocked in the deceased’s account. What should I do?
To remove a block on the deceased’s account, the investment institution where the deceased’s account is held must apply to MKK on behalf of the legal heirs.

What is Auto Blockage and how does it work?
The Auto Blockage feature is designed to improve the efficiency of the investor blocking system. It enables investors to pre-set blocking instructions at any time of the day, either for currently held securities or for those expected to be received in the future, based on specific quantities or securities.

The key difference between Auto Blockage and standard Investor Blockage is that Auto Blockage removes the need for the investor to manually initiate a block each time. It also allows blocking of future securities (not yet in the account). Instructions can be scheduled to apply from any date (including today), and an end date can also be specified.

Can I transfer blocked securities to another account under the same or a different institution?
Yes, you can transfer your blocked securities to another account in your name, either within the same institution or at a different one. The securities will be transferred with the block still in place. You must instruct your investment institution to initiate the transfer.

Do blocked shares still receive dividends, participate in capital increases, or grant general meeting rights?
Yes, securities under investor blocking are still eligible for corporate actions such as capital increases and dividend distributions. Any newly issued shares will also be credited as blocked. Additionally, these shares retain voting rights and entitle the holder to participate in general meetings.

What is the Investor Notification Service (YBS) application?
YBS is a system developed by MKK as part of its investor information services. This system aims to enable investors to promptly detect potential errors or abuses related to the securities held in their accounts, thereby reducing or eliminating individual or systemic risks.

Based on a decision by the Capital Markets Board (CMB), as of October 3, 2011, the system prevents the transfer of shares for pledge or collateral purposes from accounts of investors who have not registered with the YBS application.
Therefore, to avoid restrictions when attempting to transfer shares for pledge or collateral purposes, it is necessary to register for the e-YATIRIMCI application and submit a mobile phone number and/or email address for receiving YBS notifications.

What is the Announcement Subscription service?
With the Announcement Subscription feature, users can receive notifications related to general meetings and corporate action entitlements concerning the securities they hold.

I do not want to receive general meeting notifications. How can I unsubscribe from this service?
You can update your preferences via the e-YATIRIMCI > Ayarlar > Bildirim Tercihleri menu to opt out of notifications sent by MKK.

How can I stop receiving account-related notification messages?
To stop receiving account-related notifications from MKK, go to e-YATIRIMCI > Ayarlar > Bildirim Tercihleri and update your preferences accordingly.

What is the Report Delivery Service?
The Report Delivery Service allows users to receive Portfolio Account Status, Account Statements, and Commission Reports via email on a monthly basis, depending on the preferences set through the e-YATIRIMCI application.

Are investor notification services subject to a fee?
All notifications sent via SMS (text message) and email (e-mail) channels are free of charge.

How can I track my portfolio in the Crowdfunding System (KFS)?
Investments made through crowdfunding platforms, remaining limit information, and KFS shares converted into securities can be tracked via the e-YATIRIMCI application.

How can I increase the limit assigned to me for the Crowdfunding System?
KFS limits are determined by the Capital Markets Board (CMB) according to the relevant Communiqué. To increase your current limit, you can upgrade your status to a qualified investor by submitting a qualified investor notification through investment institutions. Additionally, your limit may be increased based on your annual income declaration, with a possible increase up to 10% of your declared annual income.

The notifications to release the attachment should be sent to the capital market institution that keeps the attached securities in their accounts.

The application should be made with the copy of ID and original certificate of inheritance or true copy of its original. In case successors do not applied in person then applications should be sent via notary.

Legally it is not possible to use fax in operations unless the original copy is presented.

MKK Solution Center is the code info used while listening to portfolio balances or conducting securities blockages in MKK Solution Center system with single institution or single security selection options by pressing phone buttons.

You can follow announcements about our open job positions through private employment agencies or print media, and submit your applications via the same channels.