At KASE a market-maker of common inscribed shares of OJSC "Bank CenterCredit" - LLP "KIB ASSET MANAGEMENT Ltd." (Kazakhstan) was approved
09.03.00 00:00
/IRBIS, March 9, 00/ - By the decision of the Board of Kazakhstan stock
exchange (KASE) #019/0, dated March 9, 2000, LLP "KIB ASSET
MANAGEMENT Ltd." (Almaty) was assigned a status of a market-maker of
common inscribed shares of OJSC "Bank CenterCredit" (KASE official
list of securities, category "A", trade code CCBN, NIN KZ1C36280419). The
letter from this LLP of March 7, 2000 became the grounds for this decision.
New market-maker will start to perform its functions on KASE floor from
March 15.
The activities of the market-makers at KASE are regulated by internal norms
of the Exchange "Regulations of the market-makers' activities" approved by
the regulatory structures of KASE on October 14, 1999 and by the resolution
#462 dated October 26, 1999 of Directorate of the National securities
commission of Kazakhstan (NSC).
At KASE a market-maker has several obligations to maintain in all possible
ways the liquidity of the instrument an authorized member of the Exchange is
a market-maker of. Apart from it, a market-maker has certain rights and
privileges on a commission collected by KASE from the participants of the
trades.
By the resolution of KASE, mentioned above, the minimum volume of
mandatory quotations for LLP "KIB ASSET MANAGEMENT Ltd." has been
set - 1,700 CCBN shares. It is the size of block of shares that should be
available for making a deal at any time during the trading day of KASE.
Taking into account previously assigned statuses, from March 15 five
market-makers will be working at KASE:
- OJSC "Bank TuranAlem" (market-maker of the U.S. dollars),
- OJSC "KAZKOMMERTSBANK" (specialist of its own KKGBb bonds),
- CJSC "Gosudarstvennyi nakopitelnyi pensionnyi fond" (market-
maker of AVMEKAM),
- LLP "TuranAlem Securities" (BTAS common inscribed shares),
- LLP "KIB ASSET MANAGEMENT Ltd." (CCBN common inscribed
shares).
Currently, LLP "KIB ASSET MANAGEMENT Ltd." is a member of KASE in
three categories - "K", "P" and "H", and it is permitted to participate in
trades in state and private issue securities, and in state owned block of
shares.