/KASE, November 4, 2022/ – By a decision of the Management Board of Kazakhstan
Stock Exchange (KASE, or the Exchange) dated November 3, 2022, KASE’s internal
document "Methodology for determining the size of clearing funds" (Methodology)
in a new edition was approved, with effect from November 4, 2022.
The new version of the Methodology was developed in order to update the text of
the document and provides for the following significant differences:
- the procedure for selecting risk factor scenarios, on the basis of which the
adequacy of clearing funds is assessed, was determined;
- coefficients for evaluating the sufficiency of clearing funds were introduced
both for the total volume of clearing funds and separately for guarantee and
reserve funds;
- the ratio of guarantee and reserve funds in the total volume of clearing funds
was introduced;
- the procedure for determining additional contributions of clearing
participants to guarantee funds depending on the level of credit risks of
clearing participants was introduced;
- the procedure for determining the Exchange's additional contributions to
reserve funds and limiting the volume of retained earnings of the Exchange
was introduced.
From November 4, 2022, the Methodology in the current edition was recognized
as invalid.
Methodology in the new version will be published on KASE website at
https://kase.kz/en/kase_rules/ ("Clearing" tab).
[2022-11-04]