/KASE, October 31, 2023/ – By a decision of the Board of Directors of
Kazakhstan Stock Exchange (KASE) dated October 27, 2023, changes and
additions No. 18 (the amendments) to KASE's internal document "Clearing rules
for transactions with financial instruments" (the Rules) were approved, with
effect from October 30, 2023.
The amendments establish the following:
- KASE's right to use guarantee fees and collateral of an insolvent clearing
participant to pay debts on penalties/fines, fees, as well as to repay other
debts, if bankruptcy proceedings or liquidation proceedings are underway
against the clearing participant, is excluded;
- KASE has the right of to apply to judicial and other authorities in order to
recover any unfulfilled obligations from a clearing participant, not limited
to an insolvent clearing participant.
In addition, procedural and clarifying amendments have been made to the text of
The updated text of the Rules will be published on KASE website at
(tab "Clearing" – "Clearing Procedures").