Istanbul Stock Exchange introduces new departments and amendments to its regulations

Istanbul Stock Exchange introduces new departments and amendments to its regulations

18/02/10

The amendments to the “Regulation of the Istanbul Stock Exchange (ISE) Organization, Duties and Principles of Operation” and some revisions in the market regulations went into force after being published in the Official Gazette dated February 16, 2010.

  • The “Marketing Department” was established. The Marketing Department will be responsible for determining the marketing strategy for the Istanbul Stock Exchange markets and the securities traded, or to be traded on such markets, and also for determining, developing, and applying the marketing methods in harmony with such strategies, and reporting the results of the above mentioned activities.
  • The International Relations Department was re-structured and the functions of the relevant department will henceforth be carried out by the following two separate departments:
    • The “International Relations Department” will be responsible for establishing, developing and maintaining links between the Istanbul Stock Exchange and its counterparts worldwide, as well as foreign capital markets institutions, international investors and other related persons/institutions; and within this framework, to carry out the necessary arrangements within and outside the Istanbul Stock Exchange, to coordinate the related activities and to realize all relevant correspondence and research.
    • The “Media and Public Relations Department” will be responsible for the ISE’s media and public relations, organization, advertisement and sponsorship activities within the framework of promoting the institutional identity of the Istanbul Stock Exchange; all activities related to Right to Information Law; investor relations and consultancy services.
  • The following amendments were made in the ISE regulations:
    • The accounts to be used by the market makers and the principles of using such accounts were amended in the ISE “Stock Market Regulation” and “Emerging Companies Market Regulation”.
    • As a result of the amendments, primary market operations were allowed in the ISE “Bonds and Bills Market Regulation”.
    • The rules pertaining to the Istanbul Stock Exchange membership admission fee, membership collaterals, types of collaterals, and reimbursement of collaterals were re-arranged in the “Istanbul Stock Exchange Regulation”.