On 6 January 2010, the CMB announced the formation of the Capital Markets Consultancy Council of Turkey (the “Council”). The Council’s mandate is to strengthen coordination among institutions (i.e. Istanbul Stock Exchange, Derivatives Exchange, Istanbul Gold Exchange, Central Registry Agency, ISE Settlement and Custody Bank, and Association of Capital Market Intermediary Institutions of Turkey) in the implementation of the Istanbul International Financial Centre Strategy and Action Plan. It is anticipated that the Council will hold meetings at least every two months. The Council had its first meeting on 4 January 2010.