KASE BoD Approved Amendments to Regulations on Membership Fees
OREANDA-NEWS. October 01, 2010. By Kazakhstan Stock Exchange (KASE) Board of Directors decision were approved additions and changes # 17 (Amendments) to the KASE internal document "Regulations on Membership Fees and Exchange Dues" (Regulations), reported the press-centre of KASE.
Amendments are submitted to the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations (FSA) for approval and shall become effective after their approval.
Amendments stipulate the following.
1. In order to eliminate the dependence of a commission fee on repo transactions on the rates level on the money market was changes the calculation order of commission fees on repo transactions. In compliance with amendments the repo market participants shall pay KASE commission fees, the size of which shall depend only on the repo transaction deal volume and its term (the calculation of commission fee on repo transaction with the Intraday term this transaction term shall equal one).
2. Rates for calculation of the commission fee on repo transactions depending on a repo transaction term (a percentage from the repo opening deal amount) have been defined:
- up to 3 days inclusive - 0.000065 %;
- from 4 to 7 days inclusive - 0.000060 %;
- from 8 to 30 days inclusive - 0.000055 %;
- from 31 to 90 days inclusive - 0.000050 %.
3. The "fixed" payment method of commission fees on repo transactions has been annulled.
4. The commission fee on repo transaction is charged on the repo closing date. In case of the repo transaction term change the commission fee is calculated based on this repo transaction actual term.
Regulations revised text shall be available on KASE website at http://www.kase.kz/files/normative_base/tariff.pdf after FSA approves amendments.
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