/KASE, June 26, 15/ – Kazakhstan Stock Exchange (hereinafter – KASE or
Exchange) announces that on June 29, 2015 it will start trial operation of its
information systems in accordance with Procedure of execution of deals on the
stock market according to scheme T+2 (T+2 procedure).
During the trial operation both provisions of Procedure of execution of deals
on the stock market according to scheme T+2 and Regulations on
Conducting Settlements on Securities Transactions under Т+0 Scheme
with Full Backing (Gross Settlements) will be applicable to transactions in
shares of representative list of KASE index. That is, two order books will
operate for each share of representative list of KASE index in the trading
system.
During the trial operation the market makers of shares of representative list of
KASE index will have to perform their duties only when working with instruments
traded using the scheme T+0.
For the convenience of the trading participants during the trial operation the
codes of instruments traded using the scheme T+2 will contain the characters
"T2".
KASE draws attention of market participants to the fact that during the trial
period the price parameters of deals concluded using the scheme T+2 will not be
taken into account in the calculation of indicators, indices and capitalization
rate, and will not be used as part of market valuation and other data used as
background information.
Starting from the date of completion of the trial operation to be determined by
a separate decision of the Management Board of KASE, settlements on
transactions with the shares of representative list of KASE index will only be
made using the scheme T+2. In this case, no trade codes of these instruments
will contain "T2" symbols.
In order to participate in the trades using the scheme T+2 in accordance with
KASE internal document "Regulations on clearing participants" the stock market
members of the Exchange must obtain the status of a clearing member. A
current list of clearing members of the stock market is available at
http://www.kase.kz/en/news/show/1260871
Provisions of these Regulations will be applicable in terms of the obligation of
clearing participants to contribute margin to the clearing guarantee fund
starting from the date of completion of the trial operation.
In order to provide market participants with the opportunity to attract assets
they need for the settlement and securities lending a new financial instrument
type was created – repo with netting. The procedure for repo transactions with
netting and relevant basic settlement conditions are guided by the Rules of
repo transactions execution available at
http://www.kase.kz/files/normative_base/repo_eng.pdf
In order to work in accordance with T+2 procedure the users of the trading
system of the Exchange should contact KASE Trading Department with regards
to connecting to a separate copy of the trading system which will function until
the date of completion of the trial operation.
For any questions and/or inquiries please contact the following divisions of the
Exchange:
1) general issues regarding functioning of T+2 procedure – Project Management
Division of Business Development Department
(tel.: 237 53 40, Email: project@kase.kz);
2) issues regarding work in the trade system of the Exchange – Trading
Department (tel.: 237 60 25; Email: trade@kase.kz);
3) issues regarding obtainment of the status of a clearing member and other
matters related to clearing –Clearinghouse
(tel.: 237 60 06, Email: clearing@kase.kz);
4) issues regarding connection to the system of electronic document flow
"eTransfer.kz" – eTrade.kz LLP (tel .: 313 16 13, Email: roman@etrade.kz).
Also on KASE website the following documents are available:
• Procedure of execution of deals on the stock market according to scheme T+2
– at
http://www.kase.kz/files/normative_base/por_t2_eng.pdf
• Regulations on Conducting Settlements on Securities Transactions under Т+0
Scheme with Full Backing (Gross Settlements) – at
http://www.kase.kz/files/normative_base/reglament_t+0_eng.pdf
• Regulations on clearing participants – at
http://www.kase.kz/files/normative_base/clearing_participants_eng.pdf
[2015-06-29]