Union of Chambers and Commodity Exchanges of Turkey

In his opening speech, Faik Yavuz stated that the problems of all sectors during the pandemic were followed with precision under the chairmanship of TOBB President M. Rifat Hisarciklıoğlu and that he believed that the sector would do their part in the normalization process, although the capital markets were not adversely affected by this process.

Council President Sudi Aydemir stated that in 2020, uncertainty reached its highest level due to the pandemic, the world economy had a troubled year in which it shrank, and our country was affected by adverse economic conditions. Council President Aydemir also emphasized that despite the negative economic conditions in our country and the world, capital market assets grew by about 40% in 2020 and the number of investors grew by around 60%, the domestic/foreign investor retention rate increased from around 35/65% to 54/46% in this period for the first time, and foreign investors were seen selling and domestic investors buying shares in their portfolios.

Dr. Onur Yüksel, General Manager of TOBB Compliance Mediation and Dispute Resolution Center gave a presentation. Yüksel stated that TOBB Compliance serves with professional mediators in commercial disputes, employee-employer disputes, internal disputes. In his presentation, Yüksel spoke about the services they provide and the operating processes of the mediation and arbitration centers and answered the questions from the Members.

Noting that private sector borrowing instruments are an important alternative to bank loans for companies issuing bonds and/or bonds, Yüksel stated that taxation differences between public borrowing instruments must be corrected for the healthy functioning of the secondary market of private sector bonds, otherwise there will be no secondary market, and that tax differences between capital market instruments and BSMV regulation are important for the competitiveness of the sector.

Industry representatives noted that investors should be protected in line with the experience gained in the past IPO mobilization, and that a significant number of IPO companies are expected to be on the stock market in 2021, noting that remote access infrastructure and digitalization have very important contributions.