Since November 01 on KASE commission fee is established at AVMEKAM trade
/IRBIS, Nov.02,99/ The Management of the National Securities Commission
of Kazakhstan (NSC) by the resolution #462 of October 26, 1999 has ratified
changes in the KASE's internal document "Volumes of member's
contribution and commission fee, collected by the stock exchange".
These changes were approved by the decision of KASE members meeting
of October 14, 1999, with participation of members of categories "К" (right
to participation in trades in state securities), "Р" (right to participation
in trades in non-state securities, included in the official list of KASE,
and in state share blocks of privatizing organizations) and "Н" (right to
participation in trades in non-state securities, allowed to the circulation
in the sector "Non-listing securities").
According to changes since November 01, 1999 the commission fee is
established on KASE for the transaction with special bonds AVMEKAM
(KZ55L0804A42, period of circulation 5 years, coupon rate 6.14% p.a., US
dollars denominated). The commission fee make 0.005% from a volume
of transaction and is collected as from the buyer, and from the seller.
In operations with other state securities the commission fee is not charged
and not paid before acceptance of an other decision by the members of
KASE's "K" category.
IRBIS has informed earlier, that the members of the exchange, having the
status of AVMEKAM market - maker, are released from this payments.
Moreover, half of commission, received by the stock exchange from a
contractor of the market - maker in the AVMEKAM transaction, should be
transferred to this market - maker.