KASE to Launch Trades with Full Backing of Settlements by T 0 Scheme
OREANDA-NEWS. April 13, 2011. Kazakhstan Stock Exchange (KASE) held its Board of Directors meeting, where discussed the report on KASE implemented activities related to the launch of settlements with full backing by T+0 scheme, reported the press-centre of KASE.
The Board of Directors entrusted KASE Management Board with implementation of the settlements with full backing by T+0 scheme in May with two month pilot period.
During the pilot period KASE plans not to impose penalties on trades participants in case of violation the trading day schedule (excluding non-fulfillment of deals at trades and Confirmation System operation closing).
During the pilot period it is planned to clarify time schedule of trades participants actions.
The T+0 based settlements are regulated by the following KASE internal documents:
- Regulations on Trades Results Based T+0 Settlements with Full Backing;
- Rules of Repo Transactions;
and Central Securities Depository internal documents:
- Rules of Depository Activities;
- Rules of Certain Banking Transactions Types Implementation.
The mentioned Regulations and amendments have been submitted to the Agency of the Republic of Kazakhstan on Regulation and Supervision of Financial Market and Financial Organizations for approval.
The date of effect of T+0 based settlements with full backing shall be announced later after FSA approves the mentioned Regulations and amendments.
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