/KASE, August 7, 2019, the information on lifting punitive sanctions was added/
– By the decision of the Management Board of the Kazakhstan Stock Exchange (KASE)
dated July 30, 2019, the amendments and additions No. 6 (amendments) to the KASE
internal document "Rules on Activities of Market-Makers" (Rules) that will be put
into effect on August 1, 2019 have been approved.
These amendments:
- have abolished commission fees for KASE members who are market-makers on
futures of any title;
- have established the minimum volume of the best mandatory quotation of a
market-maker for futures of any denomination for all terms of execution of
100 MCI;
- have established the maximum value of spread for mandatory quotations for
futures of any denomination for all terms of execution of 2%;
- have established that KASE shall pay a reward of 50% of the commission fee
received from the counterparty in a transaction to a KASE member with the
status of a market maker for futures of any denomination;
- have established that if a market maker fails to perform or violates its
duty (duties), a member of KASE with a status of a market-maker for financial
instruments of any denomination loses the right for commission fee allowance
and for payment of interest or it may be deprived of the market maker’s status.
Previous provisions envisaging use of punitive sanctions have been cancelled.
KASE internal document "Requirements for Mandatory Quotations and Sizes of Market
Makers Commission Fees Discounts on Futures" will become null and void on August
1, 2019.
The updated text of the Rules will be published soon on the KASE website at
https://kase.kz/files/normative_base/rules_market_maker_eng.pdf
[2019-08-07]