/KASE, April 10, 2026/ – By a decision of the Board of Directors of Kazakhstan Stock Exchange (KASE) dated April 8, 2026, changes No. 3 (amendments) to KASE's internal document "Rules for the placement of government treasury bonds of the Republic of Kazakhstan" (the Rules) were approved.

The changes will come into effect on the date specified in the notification of the Ministry of Finance of the Republic of Kazakhstan.

The amendments were introduced in connection with the planned introduction of the institution of primary dealers in the government securities market and provide for the following:

• the concept of "primary dealer" has been clarified in connection with the limitation of the circle of trading participants admitted to participate in trading for the placement of government treasury bonds;
• it has been established that when placing treasury bonds organized by KASE at the request of the Ministry of Finance of the Republic of Kazakhstan, orders may be submitted to KASE only by primary dealers, at their expense and in their interests (orders may not be submitted at the expense and in the interests of clients of primary dealers);
• the broker is granted the right to withdraw orders of primary dealers that are submitted on behalf of and in the interests of their clients, or by other trading participants who are not primary dealers;
• the provisions related to the possibility of submitting and verifying orders submitted by investors on KASE through primary dealers have been excluded;
• the regulations for the operation of the control and collateral system have been excluded due to the fact that accounts controlled by users of the control and collateral system will not be used in the initial placement of government securities.

In addition, editorial and clarifying amendments have been made to the text of the Rules.

The updated text of the Rules will be published on the KASE website at see more (tab "Trading" – "Securities").

[2026-04-10]