At KASE a new market-maker - LLP "TuranAlem Securities" (Kazakhstan) began to work

/IRBIS, Dec.29, 99/ - From December 28 a new market-maker - LLP "TuranAlem Securities" (Almaty) began to work on trade floor of Kazakhstan stock exchange (KASE). This member of KASE was given a status of a specialist for common shares of OJSC "Bank TuranAlem" (KASE official list of securities, category "A", trade code BTAS, NIN KZ1C34920412) by the decision of KASE's board on December 27. At KASE a specialist on PIS is the variation of a market-maker. At KASE activities of the market-makers and the specialists are regulated by internal norms of the Exchange "Market-makers activity rules", which was approved by regulatory structures of KASE on October 14, 1999 and by the Directorate of the National securities commission of Kazakhstan (NSC), resolution #462 of October 26, 1999. According to these Rules, a status of a market-maker on PIS is given to a member of KASE for each securities separately. Based on the requirements, obligations and rights, applied to market-makers on PIS, two categories of PIS market-makers exist - a specialist and a market-maker itself. Securities can have more than one market-maker, but only one specialist. Upon giving a status of a specialist on particular securities to a member of KASE other market-makers on these securities automatically lose their statuses from the moment specialist's status is activated. Status of a specialist can be given to a member of KASE only on securities that did not have a specialist before, or after losing the status by previous member of KASE, who carried out these functions. Member of KASE, who seeks the status of a specialist for a particular securities, should meet following criteria: - size of his/her authorized capital; - license of NSC to engage in brokerage and dealing activities on the stock market; - maintaining the quotation of the securities on which he/she acts as a specialist (complex of these measures are aimed at ensuring the stability of the market for these particular securities). Besides, the specialist is endowed with certain rights and has commission benefits. Thus, from December 28 three market-makers work at KASE: OJSC "KAZKOMMERTSBANK" (specialist on its own bonds KKGBb); CJSC "Gosudarstvennyi nakopitelnyi pensionnyi fond" (market-maker on AVMEKAM) and LLP "TuranAlem Securities" (common shares BTAS). During the trades on December 28 new market-maker maintained quotations of his/her instrument at $72.47/$74.64.