MDM, Central Securities Depository of Azerbaijan becomes an MKK member

As is widely known, foreign central securities depositories (FCSD) can open omnibus accounts, for which a legal framework was implemented as of end 2019, at MKK for investors that want to perform transactions in the Turkish government debt securities (GDS). In this respect, Euroclear Bank became the first FCSD to establish a link with MKK and enabled foreign investors’ direct access to the Turkish GDS. At this point today, the CSD of our brother country Azerbaijan, the National Depository Center (MDM), have become an MKK member and opened an omnibus account at MKK. The link will enable investment institutions and investors from Azerbaijan to carry out their transactions in the Turkish GDS through a more efficient operational set up, which will contribute to the development of capital markets in both countries. The close ties and joint efforts between MKK and MDM will be cemented through this latest collaboration; hence providing Azeri investors easier and smoother reach to Turkish GDS market.