FROM DECEMBER 3 KASE COMMISSIONS ASTS+ TRADING AND CLEARING SYSTEM AND STARTS PERFORMING FUNCTIONS OF CENTRAL COUNTERPART ON STOCK MARKET ON DEALS CONCLUDED IN THAT SYSTEM

25.11.19, 15:30
/KASE, November 25, 2019, November 18, 2019 news repeat/ – Kazakhstan Stock Exchange (KASE, or the Exchange) informs you that following a decision of KASE's Board of Directors from December 3, 2019 commissions the trading and clearing system ASTS+ (hereinafter – ASTS+). Switching of trading in instruments from the current trading system to ASTS+ will be carried out by stages. During the first stage – from December 3 – trading will be conducted in ASTS+ in: - shares, securities of investment funds, ETF – with settlements in tenge; - Eurobonds, depositary receipts – with settlements in US dollars. Trading in Eurobonds with settlement in tenge and other financial instruments of the stock market, including instruments of the repo market, will be carried out in the current trading system of KASE on terms before the announcement of the second stage of switching the trading to ASTS+. Modes of trading in the ASTS+ will be divided in two categories, each of them defines the settlement base and terms of collateral provision: - "List Т+" – financial instruments admitted to trading with partial collateral; - "List Т0" – financial instruments admitted to trading on terms of full prepayment (with full coverage). On deals concluded in modes "with partial collateral" and "with full coverage" with settlements in tenge and US dollars based on results of the trading day the single clearing will be carried out with generation of resulting net claims and net liabilities of clearing participants. Lists of trading modes and transactions of the trading and clearing system ASTS+ are available on KASE website at http://kase.kz/files/normative_base/trading_mode_ASTS.pdf Lists of financial instruments of the trading and clearing system ASTS+, classified by groups and trading modes are available at http://kase.kz/files/normative_base/financial_instruments_1st_release_ASTS.xlsx During one calendar month after the launch of the ASTS+, market-makers on securities traded in the ASTS+, will not be subject to sanctions in case of failure to fulfill or violation of market-makers' duties. From December 3 the Exchange will start performing functions of the central counterpart on the stock market on deals in financial instruments, concluded in the ASTS+. At the same time, settlement in money on said deals will be carried out by KASE using the correspondent account in the Central Securities Depository JSC. The settlement organization for securities on all deals concluded on KASE remains the Central Securities Depository JSC. Due to the transition of trading to the ASTS+ and start of the Exchange's acting as the central counterpart on the stock market, respective amendments were made to KASE's internal documents, as well as necessary new internal documents were developed. Said amendments will be effective as of December 3, 2019. Updated internal documents with said amendments and new internal documents of KASE, developed due to the launch of commissioning of the ASTS+ and start of the Exchange's acting as the central counterpart, are available on KASE website in section "Rules for ASTS+" at http://kase.kz/en/kase_rules_asts/ In the same section there are replies to the frequent questions on the operation of the trading and clearing system ASTS+ – http://kase.kz/files/mix/faq_asts.pdf The press release devoted to that event will be released on KASE website soon, in section "Press-releases" – http://kase.kz/en/press_releases/ [2019-11-25]