FINANCIAL MARKET INFRASTRUCTURES IN THE WORLD AND IN TURKEY

Negative interest rate which has gained importance in the global economy, particularly in the us and the euthis paper discusses different functions of financial market infrastructures, central counterparties and central securities depositories, and their transformation in the aftermath of the 2008 global financial crisis due to the ongoing international regulatory initiatives. post-crisis regulations and new industry principles have equally important effects on business models of the turkish financial market infrastructure institutions, namely takasbank and merkezi kayit kurulusu. in this regard, the article also investigates the impact of global regulatory efforts on the istanbul international financial center project and the turkish capital market law (no. 6362), and the rapidly evolving roles of financial market infrastructures in turkey.