3. Applications to Takasbank and CSD
The assignment of the ISIN code (International Securities Identification Number) defined by the International Organization for Standardization (Standard no: 6166) in order to create a uniform exchange and custody process to ensure smoother transactions, is obligatory during the IPO process.
Recognized by the CMB, Takasbank is the national numeration entity, official undertaker of the ISIN assignment procedure. All the ISIN numbers are assigned by Takasbank and distributed/declared worldwide. The Articles of Association, securities and issuer information forms are to be submitted by the issuer company. In order to retrieve these forms, the issuer company has to send an email correspondence to Takasbank (firstname.lastname@example.org) stating “they request the forms required to be granted the ISIN code(s) for it securities. Once completed properly, these forms and the aforementioned documents have to be submitted to Takasbank following the registration with the CMB.
Pursuant to the CMB legislation, all issuers with registered securities are required to be the member of Central Registry Agency (MKK). Hence, all issuers, whose shares are expected to be traded in Borsa İstanbul markets, should apply to MKK for membership prior to the trading date in order to satisfy the terms of the relevant legislation. A membership is granted in subsequence with the issuer’s submission of the online membership application form, which is accessed via the MKK website (www.mkk.com.tr).
Furthermore, membership to the Public Disclosure Platform (PDP) is obligatory for companies whose capital markets instruments are to be traded in the Exchange. PDP is an electronic platform, utilized by the traded companies to announce their material disclosures using digital signatures.
Within the framework of the CMB’s decision on January 14, 2014 (Decision no: 41), PDP is conveyed to the Central Registry Agency (CRA). Therefore, PDP membership applications should be submitted to the CRA, henceforward. Procedures regarding the applications could be reached via PDP website (www.kap.org.tr/en).