The Delegation of Merkezi Kayıt Kuruluşu (MKK) Returned From the World Forum of CSDs (WFC) 2025 Conference with Several Significant Outcomes

The delegation of Merkezi Kayıt Kuruluşu (MKK) returned from the World Forum of CSDs (WFC) 2025 Conference, held on 23–26 September in Almaty, Kazakhstan, with several significant outcomes. MKK’s CEO and Board Member, Dr. Ekrem ARIKAN, was elected as the new Chair of the World Forum of CSDs (WFC), while new cooperation agreements were concluded with Argentina and Kazakhstan.

Dr. Ekrem ARIKAN Elected as New Chair of the WFC
During the Board of Directors Meeting held on the first day of the Conference, Dr. ARIKAN was elected as the new Chair of WFC. The election followed the completion of the term of Mr. Yedil MEDEU, CEO of the Kazakhstan Central Securities Depository. Dr. ARIKAN will serve a two-year term as Chair.

Founded in 2011 in Cape Town through the merger of five regional associations of central securities depositories, the WFC today brings together CSDs from around the world under one umbrella, with the mission of sharing knowledge and experience, developing solutions to common challenges, and contributing to global market stability.

Since September 2023, Dr. ARIKAN has also been serving as Chair of the Association of Eurasian Central Securities Depositories (AECSD), and he presided over the AECSD General Meeting held within the scope of WFC2025. At the General Meeting, ongoing activities of the AECSD were reviewed, and participants were informed about the upcoming EurasiaPacific CSD Summit, which will be hosted by MKK in İstanbul on 6–8 April 2026.

In the conference’s opening panel titled “The Evolving Role of CSDs in Transforming the Global Financial Market Landscape,” Dr. ARIKAN emphasized that, beyond traditional services, MKK, as a financial infrastructure institution, has diversified the products and services it offers from issuers to investors under the pillars of depository, data, corporate governance, and investor services. He also introduced new initiatives such as the Crypto Asset Central Registry System (KVMKS) and explained how MKK is preparing for the global transition to a T+1 settlement cycle.

MKK’s Director of Depository Services, Dr. Setenay YAĞANOĞLU, gave a presentation in the session titled “Data as an Asset: Sharing, Reporting and Monetization.” In her presentation, Dr. YAĞANOĞLU underlined the importance of robust data governance in positioning data as a strategic asset and outlined methods for generating both direct and indirect revenues, citing MKK’s successful implementations in this area.

Intercontinental Cooperation from MKK: Argentina and Kazakhstan
In line with its vision of strengthening international cooperation, MKK signed strategic cooperation agreements during the WFC2025 Conference. The first was a Memorandum of Understanding (MoU) signed between MKK and Argentina’s Central Securities Depository (Caja de Valores). Aimed at fostering cooperation, knowledge transfer, technology exchange, and experience sharing, this MoU also seeks to enhance integration between the capital markets of Argentina and Türkiye.

The second agreement was signed between MKK and Kazakhstan’s Central Securities Depository (KCSD). Under this agreement, investors in Türkiye and Kazakhstan will be able to carry out settlement and depository operations for Government Debt Securities issued in both countries via omnibus accounts opened at MKK and KCSD. This will provide market participants with more efficient and secure access to Turkish and Kazakh market instruments.

High Level Contacts in Kazakhstan
Throughout the Conference, Dr. Ekrem Arıkan and the accompanying MKK delegation conducted a series of important meetings in Kazakhstan. The delegation visited Türkiye’s newly appointed Consul General in Almaty, Mrs. Tuğba Alan ÖZDENFEDAKAR, to discuss potential cooperation opportunities between institutions of the two countries. They also paid a courtesy visit to the newly appointed Chairman of the Kazakhstan Stock Exchange (KASE), Mr. Adil MUKHAMEJANOV, and Vice Chairman Ainagul ISKAKOVA to deliberate on cooperation.

The MKK delegation held a meeting with Dr. Samsul HIDAYAT, CEO of Indonesia’s Central Securities Depository (KSEI), and the accompanying KSEI delegation, to advance the implementation of our Electronic General Meeting System (e GKS) adapted for the Indonesian market — known as eASY.KSEI — which has served Indonesia’s capital markets since 2020, and to explore new areas of joint work.

Upon the conclusion of the WFC 2025 Conference, Dr. ARIKAN made the following remarks:
“From the WFC 2025 Conference, we return bearing new international responsibilities. As the new Chairman of the WFC, I will work in close cooperation with each of the five regional associations, using our robust infrastructure and knowledge base in Türkiye and at MKK under the WFC umbrella to build bridges among markets and continents.”

Dr. ARIKAN also referenced the agreements signed with Argentina and Kazakhstan:
“We are pleased to have signed a Memorandum of Understanding with Argentina’s central securities depository. This agreement is the first signed between a central securities depository in Americas and MKK. It also stands as a concrete example of the growing interest in the corporate governance services offered by MKK as a financial infrastructure institution. On the other hand, the omnibus account agreement we have made with KCSD, the central securities depository of our brother country Kazakhstan, strengthens the regional connections we have built to date and supports our aim of market infrastructure integration in the region. Following the link we established in 2021 with Azerbaijan’s central securities depository MDM, this step with KCSD represents an important phase toward market integration within the framework of the Organization of Turkic States.”