KASE Board of Directors approves revised Regulation on Clearing Members

/KASE, July 17, 2018/ – By the decision of the Board of Directors of the Kazakhstan Stock Exchange (KASE) on July 13, 2018, the revised internal document of KASE "Regulation on Clearing Members" (Regulation) was approved. The Regulation will become effective on the date when KASE starts operating as a central counterparty in the foreign exchange market, which will be announced additionally. The revised Regulation was developed in order to update current Regulation and it contain the following main changes: 1) concepts of categories of clearing members that define the way of ensuring execution of transactions by clearing members (without collateral, with partial collateral, with full coverage) are introduced; 2) requirements for clearing members to establish certain category are defined; 3) the procedure for assigning and changing clearing members’ categories is defined; 4) clearing members’ monitoring procedure was specified; 5) requirements for candidates for assigning clearing member’s status and the procedure for assigning this status were clarified. In addition, clarifying amendments have been made to the text of the Regulations. Current Regulation will be declared no longer in force on the first working day following the date of introduction of the revised Regulation. The updated Regulation will be published on the KASE website soon. [2018-07-17]