Amendments to Clearing rules for transactions with financial instruments came into effect on October 30

31.10.23 16:42
/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 Rules. The updated text of the Rules will be published on KASE website at (tab "Clearing" – "Clearing Procedures"). [2023-10-31]