The assets held by collective investment institutions (all mutual funds, private pension funds and mutual trusts) are safekept by Takasbank in accordance with Paragraph (5), Article 56 of the Capital Markets Law No. 6362.
Takasbank book-entry custody services encompass the following: services provided to collective investment institutions include custody services for shares, bonds, mutual funds participation certificates, precious metals and other capital markets instruments, services for corporate action rights exercises and transfer services; services provided to Private Pension Plans include custody of Private Pension Fund Shares on beneficial owner basis.
Firstly, a custody contract is signed with institutions wishing to receive custody services from Takasbank. A three-digit membership code is set up for the customer and bank accounts are opened in the Takasbank system including any other related banking accounts. Depending on the nature of securities in the customer's account, they are held at the CBRT, CSD of Turkey, Borsa Istanbul, EUROCLEAR or similar institutions in sub-accounts of accounts opened in the name of Takasbank.
Capital increase, dividend distribution, redemption, coupon payment and so on together with corporate action rights exercise services and transfer transactions are executed depending on the nature of the securities safekept in custody.