According to Article 87 of the Capital Market Law (No. 6362), the Capital Markets Board (CMB) can mandate reporting of information on financial transactions by counterparties to the CMB or to a trade repository that will be assigned by the CMB in order to monitor systemic risk and maintain stability in capital markets.
As per the above mentioned Article of the Law, the CMB assigned MKK to provide trade repository services in Turkey. In this regard, MKK has initiated the “e-TRADE REPOSITORY: Electronic Trade Repository” project. In the first phase of this project, transactions on OTC derivative instruments will be reported to MKK in compliance to international standards.
The reported data will be shared with supervisory and regulatory bodies to enable monitoring of systemic risk in Turkish capital markets, and summary data will be publicly shared. Investment institutions will begin reporting their OTC derivatives transacitons to MKK in Q1 2016.
MKK has been assigned by the CMB to provide trade repository services
Date:
05/06/2015