KASE's Board of Directors approves raising intra-day liquidity in national currency from National Bank of Republic of Kazakhstan

/KASE, October 2, 2020/ – On September 30, 2020, the Board of Directors of Kazakhstan Stock Exchange (KASE, or the Exchange) approved raising of liquidity in national currency with the National Bank of the Republic of Kazakhstan issuing intraday unsecured "overdraft" liquidity. Provision of intraday liquidity will allow the Exchange to fulfill its obligations to clearing participants for the main clearing session on time – until 18:00 o'clock ALT, in the event that a clearing participant fails to fulfill his obligations on settlements following the results of the main clearing session by 17:00 o'clock ALT. Later, such a clearing participant will have the opportunity to take part in an additional trading session and settle his unfulfilled position by 17:00 o'clock ALT. Thereafter, during the additional clearing session, the final net claim or net obligation of such a participant to be fulfilled on the current day will be determined taking into account all his operations at the main and additional sessions. Thus, the possibility of obtaining intra-day liquidity for these purposes will allow the Exchange as a central counterparty to provide clearing participants with better and more flexible settlement services. The Board of Directors of the Exchange approved the conclusion of an agreement with the National Bank of the Republic of Kazakhstan on the provision of intra-day liquidity, taking into account the fact that the Exchange's raising of intra-day "overdraft" liquidity may lead to an increase in KASE's liabilities during the day by an amount equal to ten or more percent of the Exchange's equity, as well as to conclusion of a major deal. [2020-10-02]