/KASE, September 19, 2018, September 11, 2018 news repeat/ – Kazakhstan Stock
Exchange (KASE, or the Exchange) announces that KASE's Board of Directors approved
the date of October 1, 2018 as the date of the start of the Exchange acting as
the central counteragent (CC) on the foreign currency market.
The Exchange starts acting as the central counteragent on the foreign currency
market as part of implementation of its 2016-2018 development strategy, in terms
of widening its clearing activities.
The availability of the central counteragent purpose on KASE's foreign currency
provide participants of the exchange's currency market with safety and a guaranty
of fulfillment of their requests regarding concluded deals in case of a failure
of any trading participant, by way of establishing a risk management system on
the exchange's currency market.
As part of implementation of the CC project, KASE in association with the National
Bank worked on updating the legal framework and regulations, renewed the internal
norms of KASE, its information systems, developed an automated system of risk
management on the currency market based on KASE's operational trading and
clearing system.
Besides, the Exchange developed a web-module using which clearing participants of
the currency market will in the real time mode receive information about the
market value of their current obligations, the value of the margin contribution
and its sufficiency, as well as about values of risk-parameters used for
defining market indicators.
Currently, authorized by a separate license, the Exchange carries out clearing
on several markets: the stock market (Т+2), currency and derivative markets.
Apart from provision of clearing services on mentioned markets KASE performs
functions of a central counteragent on the derivatives market.
The press release devoted to this event is available on KASE website –
http://kase.kz/files/press/ru/11_09_2018_KASE_CCP.pdf
[2018-09-19]