CRA Future Outlook 2008

Wednesday, 19 December 2007



Following the issuance of the draft Turkish Commercial Code, CRA plans to provide services to investors enabling them to participate in the issuers general assemblies remotely, using electronic signatures.


CRA also aims to increase the level of straight through processing, especially for corporate actions, and to fully synchronize message formats with ISO standards. Efficient reporting has always been one of our main concerns and in this regard we plan to increase the report types available to our members, while providing analytical tools to manage them. In December 2007 a new tool within CDS has been introduced for making it easier for the members to request and to receive any additional reports they may need. In the future CRA plans to introduce new services with added value for its members (financial intermediaries, issuers) by providing business intelligence reports and investor behavior pattern analysis. In order to enhance the transparency and information access of market participants a web portal will be introduced by CRA.  


Within the context of the ongoing alignment with the European Union acquis the coverage of the Investor Protection Fund will be extended to include all securities in addition to shares.


Preparations for the dematerialization of treasury bills and government bonds are completed in the technical sense.  A CMB decision for implementation is anticipated for the realization of the transition to CRA. 


CRA anticipates to dematerialize shares of those companies which are not traded at the stock exchange but have the number of shareholders exceeding a certain threshold so as to consider them as open to public.


Depository services for mortgage-backed securities is also within the plans of CRA.