Decree-Law No. 91 concerning securities exchanges was published in 1983. The decree foresaw the establishment of a stock exchange in Turkey aiming to make Turkey's capital markets more efficient.
The regulations outlining the functions of members as well as other aspects of trading on the ISE were published in the Official Gazette No.18537 on October 6, 1984.
Finally, in 1986 the Istanbul Stock Exchange (ISE) was established. The ISE provides trading in equities, bonds, bills, revenue-sharing certificates, real estate and foreign securities certificates.
The General Assembly is the supreme decision-making body of the ISE. It decides on important matters related to the management and administration. The Executive Council governs the ISE and meets regularly to decide on matters concerning daily operations. It is composed of five officers that are elected by the General Assembly, except the Chairman and Chief Executive Officer who is appointed by the Turkish government for a term of five years. The four other members of the Council represent the three categories of Exchange members: commercial banks, development banks and brokerage houses. Two internal auditors appointed by the General Assembly independently audit all of ISE's accounts. The Inspection Board monitors all transactions conducted on the ISE in order to prevent manipulation in the Stock Market. Additionally, the Board inspects and observes the compliance of members and ISE personnel with the rules and regulations.
The ISE enjoys a high level of self-regulation being an autonomous and professional organization. Fees charged on transactions, listing procedures and miscellaneous services help to generate revenues fro the ISE.
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