The dematerialised system has introduced a paperless securities rights system that is appropriate for the requirements and technology of the 21st century. The system has provided the fundamental conditions such as prevention of forgery, establishing consistency between real right owners and recorded right owners, and keeping record of the chain of transfer of rights for a robust regulatory environment for the market.
A system of electronic communication between institutions has been put into service as a result of the projects that were carried out jointly with both regulatory institutions and authorised institutions for the tracking and collection of government claims. The system allows instant data transmission in accordance with the newest technology. In this respect, all processes concerning the tracking and collection of government claims have been automated on an electronic platform with the finalisation of the “e-Attachment” project which was jointly undertaken by MKK and the Revenue Administration Department. Moreover, a project concluded jointly with the Social Security Administration has allowed tracking of claims of this institution in an electronic environment.
Collateral operations and liens on dematerialised capital market instruments are reflected to MKK records by participants on the basis of pledger and pledgee. The securities in the system can be held by either the pledger or the pledgee.
Management of usufruct rights on voting rights and dividends payments is another legal transaction that is conducted through MKK. These rights are reflected to the records on both right owner and beneficary basis by the members.
