Article 10/A added to the Capital Market Law with the Law No. 4487 on 18.12.1999 stipulates that the capital market instruments and the rights related to them are dematerialized by a Central Registry Agency, which is a private law legal entity.
In order to make a transaction in the MKS, it is necessary to have the authority for the transaction in question. The company official authorizes himself or other users with the Authorization Authorization given to him, and gives the opportunity to transact in the MKS. The company official can also transfer the authorization authority to another user. Institutions that want to have their transactions done by other institutions can authorize any member institution they wish to carry out their transactions by signing an Authorization Undertaking. Issuers who sign an authorization letter are exempted from obligations such as assigning MKS users and obtaining smart cards.