KASE Board of Directors approves the Procedure for Execution of Securities Transactions without Central Counterparty and Settlements (gross settlements)

/KASE, June 4, 2020/ – New internal document KASE "The the Procedure for Execution of Securities Transactions without Central Counterparty and Settlements (gross settlements)" (Procedure) was approved by the decision of the Board of Directors of the Kazakhstan Stock Exchange (KASE) of June 3, 2020. The Procedure will be put into effect as of the launch date of the second release of the ASTS+ trading and clearing system on the stock market, which will be reported later. The document defines the procedure for conclusion of transactions on the stock market, on which KASE does not carry out the functions of a central counterparty, establishes main requirements for settlements on such transactions and imposes liability for non-execution of such transactions and introduces the procedure for payment of fines when trading participants default on their obligations. The Procedure will be published on the KASE website soon. [2020-06-04]