OREANDA-NEWS. May 14, 2010. By Kazakhstan Stock Exchange (KASE) Board decision of May 6, 2010 were approved change and addition # 9 (amendments) to the KASE internal document "Rules of Rewards of Most Distinguished Exchange Members" (Rules), reported the press-centre of KASE.

The need in changing Rules became obvious by results of 2009, when KASE had to refuse the reward of the most distinguished exchange members in nominations "The exchange shares market leader" and "The exchange corporate bonds market leader". All exchange members, which showed high activeness when operating corporate securities due to the crisis did not satisfy deals in instruments in mentioned or related market sectors, including due to their clients fault. Effective as of 2009 beginning Rules did not allow rewarding of such exchange members and rewarding of not active companies with diplomas that did not have defaults would be incorrect.

Having thoroughly analyzed the experience of 2009 KASE developed amendments stipulating implementation of the activity indicator adjustment system, calculated for each candidate for rewarding in the corresponding organized financial market sector, for 0.05 point down for each case of:

- non-fulfillment of a deal by this candidate in this or related organized financial market sector;

- violation by this candidate of norms and the order set forth by KASE internal documents.

The activity indicator discount size per violation by 0.05 point was defined empirically by 2009 results. The Exchange Council refused to apply the complicated mathematical mechanism at the discount defining as this would complicate the text Rules and would not facilitate amendments understanding.

In addition, amendments specify that candidates proved fault of which was not satisfied at least one repo transaction closing deal, are removed from the nomination list "The repo market leader", and nominations in appropriate organized market sectors, where the same financial instruments are used as deals subjects.

The revised text of Rules is available on KASE website at http://www.kase.kz/files//normative_base/diploms_eng.pdf