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
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.