The securities of international financial organizations will be traded at the KASE

/IRBIS, Feb 2, 01/ - By the resolution #766 of the Directorate of the National Securities Commission of Kazakhstan (NSC), dated Jan 31, 01, new normative document of the Kazakhstan Stock Exchange (KASE) was approved "Rules for admittance of the securities of international financial organizations to the circulation at the Exchange" (Rules). The Rules were examined and approved by the decision of the meeting of the KASE members holding categories "K", "P", "H", which was held on Jan 17, 01, and it defines the order of admittance of the securities of international financial organizations to the circulation at the KASE. Due to the appearance of the NSC Directorate's resolution, the Rules go into effect from February 2, 2001. The Rules defined following entities as International financial organizations: - ADB - Asian Development Bank, - ADB - African Development Bank, - BIS - Bank for International Settlements, - EBRD - European Bank for Reconstruction and Development, - ISDB - Islamic Development Bank, - IADB - Inter-American Development Bank) - IFC - International Finance Corporation, - IBRD - International Bank for Reconstruction and Development. By the Rules only the securities of international financial organizations, which are taken into account in Central depository of securities CJSC (CD, Almaty) accounts can be sold at the KASE. These securities are admitted to the circulation at the Exchange by the Board of the KASE on the basis of the admittance initiator's application with following attachments: - the letter of the CD with the information on the securities being admitted, their type, title of the issuer, ISIN, issue (circulation beginning) and maturity dates, coupon (interest) and payment dates of this interest; - application from one of the members of the Exchange on acting as a market-maker of these securities at the KASE. The KASE members holding "K" category can participate in the trades in the securities of international financial organizations. The schedule of the trades is determined by the Board of the Exchange. The accounts by the results of the deals made in the securities of international financial organizations are settled in compliance with the Part III of the KASE normative document "Settlement rules for the securities trades" (on T+0 basis through CD only). The decision on ceasing or suspending the circulation of the securities of international financial organizations at the KASE is made by the Broad of the Exchange. The amendments to the KASE normative document "Membership fees and commissions collected by the Exchange" were also approved by the resolution of the NSC Directorate, which was mentioned above. They were approved by the decision of the meeting of the KASE members holding categories "K", "P", "H", which was held on Jan 17, 01. Amendments concern the charging methods of the commissions on the deals made in the securities of international financial organizations. By the results of the deals made in these securities the commission equals 0.005% of the deal amount from each side, but not less than the commission collected by the CD from the Exchange. At that, the market-makers of the securities of international financial organizations are freed from paying commissions at the KAE on the deals made in the securities for which they are the market- makers.