From November 29 additional trades in foreign currencies to be held at KASE

/IRBIS, Nov.26, 99/ - The agency IRBIS reminds that on November 22 KASE Exchange council's Committee on currency market made a decision to introduce two additional trades in foreign currencies from November 29, 1999. Now the trades in foreign currencies are held at KASE on week days from 10:15AM to 11:00AM Almaty time with TOD payment terms (today - same day payment). From November 29 additional sessions will be held from 11:30AM to 3:00PM with TOD payment terms and from 2:00PM to 6:00PM with TOM (tomorrow - next week day payment) and SPT (spot - second week day payment) payment terms. Weighted average rates of the currencies to tenge - as one of the most important indicators of country's financial market - will be calculated only based on the results of the morning trade session, that is as it used to be. Midday session with TOD payment terms will be offered to market participants as an additional service. By the results of the evening session the Exchange plans to calculate weighted average rates of foreign currencies to tenge on TOM and SPT terms. By the results of the morning and midday sessions KASE will calculate a joint net-position of a bank in Kazakhstani tenges and in foreign currencies, but the commission will be charged separately for net-positions on each trade session.