/KASE, July 8, 2020, June 11, 2020 news repeat/ – Kazakhstan Stock Exchange
(KASE or the Exchange) announces that the second release of the trading and
clearing system ASTS+ (hereinafter, ASTS+) of stock market will be put into
operation on July 20, 2020 following a decision of KASE's Board of Directors
From that date, all financial instruments of the stock market will be traded in
the ASTS+. In the trading system, which currently operates on the stock market
(hereinafter – the ACT), trading in financial instruments of the stock market
will be closed, except for the possibility to settle closing repo transactions
that were opened in the ACT before the launch date of the second release of the
ASTS+.
We remind you that the transfer of trading in financial instruments of KASE's
stock market from the current trading system to the ASTS+ will be done in
stages. Starting from December 3, 2019 (the first stage), trading in the
following securities is held in the ASTS+:
- shares, securities of investment funds, ETFs – settled in the tenge;
- Eurobonds, depositary receipts – settled in the US dollars.
Eurobonds settled in the tenge and other financial instruments of the stock
market, including repo market instruments, are traded in the ACT until July 20.
From July 20, the Exchange will act as the central counterparty on the stock
market for all transactions with all securities, except for repo transactions
with a number of financial instruments to be settled on a gross basis – for
each individual transaction.
All transactions with the central counterparty will be cleared on a net basis by
determining net positions of clearing members for their execution during
settlement clearing sessions. The Exchange as the central counterparty for such
transactions will guarantee their execution.
Settlements in money of transactions with KASE as the central counterparty will
be carried out independently using a correspondent account in the Central
Securities Depository.
The Central Securities Depository remains the settlement organization for
securities on all transactions concluded on KASE, which will be conducted
without participation of the central counterparty, in cash and in securities.
Relevant amendments to internal documents of KASE have been made and new
internal documents have been developed, which will be put into effect as of July
20, 2020 due to the launch of the second release of the ASTS+. These
documents are available on KASE's website in section "The Rules for ASTS+" at
http://kase.kz/en/kase_rules_asts/
In the same section, there are answers to frequently asked questions about
operation of the trading and clearing system ASTS+ –
http://kase.kz/files/mix/faq_asts.pdf
A press release on the event will be published on the KASE website shortly in
the "Press Releases" section –
http://kase.kz/en/press_releases/
[2020-07-08]