CENTRAL REGİSTRY AGENCY (CRA)
CRA is a central institution that its responsibilities of issuing capital market instruments in dematerialized form, registering them in accounts opened at beneficial owner basis, monitoring their respective rights are given by law and the records kept in its books on these securities are legally binding. In other words, it is a central system which securities are issued, held in beneficial owner accounts, transferred and their respective rights are installed. Therefore, CRA with its current structure is the Central Securities Depository institution of Turkey.
With the addition of Article 10/A titled "Dematerialization of Capital Market Instruments" to the Capital Market Law in 1999, a dematerialized system was legally introduced in terms of capital market instruments. For this reason, with the establishment of the Central Registry Agency, which will run the system, and the dematerialization of capital market instruments (dematerialization of joint stock company shares traded on the stock exchange – 28.11.2005), the dematerialized system has been put into practice.
The dematerialized system is basically regulated in the Capital Market Law. (CMB art.10/A). Although the shares of publicly held joint stock companies are within the scope of the dematerialized system, there is no provision regarding the dematerialized system in the TCC numbered 6762. In the TCC numbered 6102, there are some provisions regarding the dematerialized system.
As stated in the fourth paragraph added to the Temporary Article 6 of the Capital Markets Law No. 2499 with the Law No. 6111 and in the Article 13/4 of the Capital Market Law No. 6362, which repealed the Capital Market Law No. 2499; If the share certificates, which have been monitored by the Central Registry Agency as of November 28, 2005, are not delivered to the Central Registry Agency until December 31, 2012, these securities are legally transferred to the Investor Compensation Center and in this case, the rights arising from the shares expire automatically connected.
Securities Held in Dematerialized Form at CRA:
* Equities (Listed at the exchange of Istanbul)
* Mutual Funds
* Exchange Traded Funds (ETF)
* Corporate Bonds
* Commercial Papers
* Bank Bills
* Corporate Warrants
* Covered Bonds
* Asset-Backed Securities
* Government Debt Securities (Investor Holdings)
* Government Lease Certificates
* Private Sector Lease Certificates
* Electronic Warehouse Receipt
* Real Estate Certificates
* Gold Backed Lease Certificates
* Gold Backed Bonds
* Convertible Bonds
* Foreign Exchange Government Certificates
* Foreign Exchange Government Bonds
Depository Services of CRA:
* Investment/Custody Account services
* Issuer, securities issue and corporate actions services,
* Safekeeping of securities on beneficial owner basis and omnibus accounts
* Settlement services for dematerialized securities,
* SWIFT services,
* Services related to the transactions on the Securities Lending Market and the Electronic Fund Trading Platform of Turkey
* Services for Electronic Warehouse Receipts
* Services for Crowdfunding Platforms
CRA Data and Technology Services:
CRA provides in-house developed data and technology systems and platforms to local and foreign capital and financial markets with its R&D license;
* e-YATIRIMCI: Investor Information Center
* e-GENEL KURUL: Electronic General Meeting System
* e-ŞİRKET: Companies Information Portal
* e-ÜRÜN: Electronic Warehouse Receipts Center
* e-VEDO: Electronic Trade Repository Platform
* e-VERİ: Capital Markets Data Bank
* e-YBS: Investor Notification Service (formerly known as e-CAS)
* e-YKS⁺: Electronic Board of Directors System
* VAP: Data Analysis Platform
* YRTS: Investor Risk Monitoring System
As the Central Securities Depository of the Turkish capital markets, Central Registry Agency (CRA) provides its members with depository, trade repository and reporting, corporate governance and investor services. CRA also offers in-house developed data and technology systems and platforms to local and foreign capital and financial markets as part of its role as an R&D center.
Issuers, investment institutions operating in accordance with the Law, central clearing institutions and other institutions recommended by CRA and accepted by the Capital Markets Board can become members of the Central Registry Agency. In addition, CRA has been authorized by the Ministry of Commerce as an Electronic Registration Agency within the framework of the Agricultural Products Licensed Warehousing Law No. 5300 and the Electronic Product Bill Regulation issued pursuant to this law. In this context, licensed warehouse operators and authorized classifiers can become members.