KAZAKHSTAN: KASE Revises Rules for Execution of Exchange Activities

Thursday May 30 2024

On 29^th May 2024, the Kazakhstan Stock Exchange (KASE) announced that the Board of Directors revised the internal document “Rules for execution of exchange activities”. The revised Rules will be put into effect from the date of commencement of activities of KASE Clearing Centre JSC (KASE Clearing Centre JSC (KACC)) in the currency market and derivatives market.

The revised Rules were developed to update the existing Rules in connection with the transfer of clearing activities, functions of the central counterparty and settlement organization to the Clearing Centre and provides, among other things, for the following:

• KASE carries out clearing activities, functions as the central counterparty and settlement organization only for those financial instruments of any market that it has accepted for clearing services;
• if the Exchange has concluded an agreement with a legal entity licensed to carry out clearing activities, then in this market KASE does not carry out clearing activities, does not perform the functions of the central counterparty and a settlement organization.

Click on the above link for further information