South Korean Central Securities Depository’s (KSD) visit to MKK

​A delegation from South Korea Central Securities Depository KSD visited MKK on 25 March 2015.
The delegation, with the honouring of the KSD CEO and Chairman, Mr. Jae Hoon YOO, paid a visit to Mr. Yakup Ergincan, CEO and Board Member of MKK, and had a meeting to further extend good and long-term relationships between the two CSDs. The meeting started with a a presentation on Turkish Capital Markets and MKK in general, whereas a separate presentation was also made on MKK’s Electronic General Meeting System “e-GEM”, a fully inhouse developed systemfor the use of investors and issuer companies.
 
The two senior managers extended their willingness and ambitions to cooperate more in terms of linking the two respected institutions and hence their capital markets. In his speech, Mr. Jae Hoon YOO also expressed his appreciation of MKK’s value-added services and hence the business vision of MKK in diversifying its services and products for the use of all capital markets participants.
 
Mr. Yoo also specified that under his management, KSD tries to use its monopoly power in main depository services for the good of the capital market participants and at the moment 45% of KSD’s revenue is generated from providing ancillary services.
Mr. Yakup ERGINCAN, CEO and Board Member of MKK who extended his gratitude for the admiring and encouraging words of Mr YOO on MKK’s vision and services, shared his good wishes and intention to foster cooperation and collaboration between MKK and KSD.
 
During his statement, Mr. ERGINCAN agreed with Mr. YOO’s comments on using CSDs’ monopoly power for the benefit of all investors and intermediaries, and added that from 2011 on MKK has been making great efforts to lower its fees from core CSD services and provide more value added technology intensive products, which will also pave the way for further development of the Turkish capital markets and hence its economy.
 
MKK and KSD have a Memorandum of Understanding (MoU) signed on 22 October 2010.
 
 
About KSD:
South Korea Securities Depository (KSD) is the sole Central Securities Depository (CSD) of South Korea, providing a wide range of post-trade services for the South Korean securities market. KSD was established in 1974 as a special corporation of a public nature. The number of participants of KSD totals 1,306, comprising financial institutions including securities companies, banks, insurance companies and foreign investors. Since KSD has direct impact on the market, there are several mechanisms to ensure fairness and transparency of its activities, and KSD is supervised by regulatory bodies such as  Financial Supervisory Commission and Financial Supervisory Service.
 
 
About MKK:
Established in 2005, MKK is the CSD of the Turkish capital markets for all dematerialized securities. The Turkish capital market is fully dematerialized and investor accounts are held at beneficial owner level (direct model) at MKK’s Central Dematerialized System (CDS). MKK, in addition to its responsibilities in providing core CSD services, as an officially designated R&D center by the Turkish state’s science council,develops technology intensive value-added services for the use and benefit of all capital markets participants,investors and issuer companies in particular. One of the main goals of MKK is to fulfill its responsibilities of increasing market efficiency and minimizing systemic risks as well as complying to global post-trade industry standards.