AFS Approved Amendments to Rules of Foreign Currencies Trades
OREANDA-NEWS. October 13, 2009. As previously informed, by Kazakhstan Stock Exchange (KASE) Council decision of August 27, 2009 were approved additions and changes # 14 (amendments) to the KASE internal document "Rules of Foreign Currencies Trades Results Based Settlements" (Rules), reported the press-centre of KASE.
Mentioned amendments were approved with the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (AFS) on October 8, 2009 and became effective from October 9, 2009.
Mentioned amendments clarify that exchange foreign currencies trades participants can be banks or non-banking organizations, which are exchange appropriate category members. Given this for foreign currencies trading results based settlements banks are entitled to use only one bank account, non-banking organizations can simultaneously use several bank accounts (client and own) accounts.
In addition, mentioned amendments set forth that trades participant - non-banking organization when using several bank accounts for entry of Kazakhstan tenge received from the exchange in return for its net obligations must submit to the exchange a corresponding order according to Appendix 2a to Rules.
Rules revised text is published on KASE website at http://www.kase.kz/files/normative_base/dmoney.pdf
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