KASE's Board of Directors approves revised Rules for execution of exchange activities

/KASE, May 29, 2024/ – By a decision of the Board of Directors of Kazakhstan Stock Exchange (KASE or the Exchange) dated May 28, 2024, KASE's revised internal document "Rules for execution of exchange activities" (the Rules) was approved. The revised Rules will be put into effect from the date of commencement of activities of KASE Clearing Centre JSC (KASE Clearing Centre JSC (KACC), or Clearing Centre) in the currency market and derivatives market. The revised Rules were developed in order to update the existing Rules in connection with the transfer of clearing activities, functions of the central counterparty and settlement organization to the Clearing Centre and provides, among other things, for the following: - KASE carries out clearing activities, functions as the central counterparty and settlement organization only for those financial instruments of any market that it has accepted for clearing services; - if the Exchange has concluded an agreement with a legal entity licensed to carry out clearing activities, then in this market KASE does not carry out clearing activities, does not perform the functions of the central counterparty and a settlement organization. In addition, the revised Rules establish that the method of placing securities on the "Private Placement" market is the subscription method, and also editorial and clarifying amendments have been made to the text of the Rules. From the effective date of the Rules, the Rules in the current edition will be declared invalid. The revised Rules will be published on KASE's Internet resource at https://kase.kz/en/kase_rules/ (Trading tab). [2024-05-29]