KASE CHANGES FOREIGN CURRENCY TRADING REGIME AS OF JULY 1

28.06.19, 20:20
/KASE, June 28, 2019/ - The Kazakhstan Stock Exchange (KASE) informs that the following changes are being introduced to foreign currency trading at KASE as of July 1, 2019. 1. The duration of the trading day has been extended: the completion time of foreign currency trading will be changed from 3:30 p.m. to 5:00 p.m. of Nur- Sultan time (AST). 2. Foreign currency trading on KASE will be held in a single continuous session from 10:15 a.m. to 5:00 p.m. AST in the following regime: - transactions with settlements on the day of trading (except for transactions with the Chinese yuan and currency swap transactions on the Chinese yuan) can be made from 10:15 a.m. to 3:30 p.m. AST; - transactions with Chinese yuan with settlements on the day of trading and currency swap transactions on the Chinese yuan will be made from 10:15 a.m. to 11:00 a.m. AST; - transactions with all foreign currencies with settlements on the next business day or on the second business day after the day of trading can be made from 10:15 a.m. to 5:00 p.m. AST; - currency swap transactions on the US dollar, euro and Russian ruble will be available from 11:30 a.m. to 3:30 p.m. AST. Weighted average US dollar rate with settlements T+1 (USDKZT_TOM) will be released on KASE website as at 11:00 a.m., 3:30 p.m. and 5:00 p.m. AST every trading day. Also, the Frankfurt trading method will be introduced as of July 1 during trading in instrument USDKZT_TOM. This method will be used if: - the price of the proposed transaction will differ from the price of the last transaction of the previous trading day for this instrument by 1.5% or more; - the price of the proposed transaction differs from the price of the last transaction made using the Frankfurt trading method during current trading day by 1.5% or more. The duration of each instance of application of the Frankfurt trading method on instrument USDKZT_TOM will last from six to seven minutes depending on the conditions set by the KASE internal document "Regulations of Trades and the Confirmation System Operation". No bridgeable limit of the price deviation will be set when conducting trading on US dollar. These changes are being introduced in order to extend the trading day and to improve access of trades to the participants as part of the expansion of settlement opportunities in the Kazakh tenge for foreign and international participants. Relevant amendments were made to the KASE internal document "Regulations of Trades and the Confirmation System Operation". An updated version of the Regulations will be released soon on the KASE website at http://kase.kz/files/normative_base/reglament_trade.pdf In addition, we inform that such concepts as "morning", "day", "main" and "additional" trading sessions on foreign currencies will no longer be used during trading and when fixing market rate as of July 1. [2019-06-28]