As of May 1 KASE puts into effect amendments to Rules of Clearing Activities on Deals in Financial Instruments
/KASE, April 5, 13/ – As was announced earlier by Kazakhstan Stock Exchange (KASE) Board of Directors decision of November 26, 2012 changes and additions # 1 (the amendments) to KASE internal document "Rules of Clearing Activities on Deals in Financial Instruments" (the Rules) were approved.
The Rules were approved by the Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan (FSC NBK) on December 28, 2012 and they are effective as of May 1, 2013 due to the introduction of necessary improvements to the soft- and hardware of KASE.
The amendments stipulate:
1)procedures on defining net obligations / net requirements of clearing participants;
2)need in connection of clearing participants to the system of electronic documents exchange;
3)need in opening bank account (accounts) on KASE by clearing participants of the derivatives market to register their margin and guarantee fees.
In addition, the amendments describe the methodology of valuation of the reserve fund and have editorial and clarification character.
The revised Rules will be available on KASE website at толығырақ in the near time.
[2013-04-05]