KAZAKHSTAN: Kazakhstan Stock Exchange Starts Trial Period of T+2 Settlement Cycle

Tuesday June 30 2015

Kazakhstan Stock Exchange (KASE) has announced that it has started the trial operation of its information systems in accordance with Procedure of execution of deals on the stock market according to scheme T+2.

During the trial operation both provisions of Procedure of execution of deals on the stock market according to scheme T+2 and Regulations on Conducting Settlements on Securities Transactions under Т+0 Scheme with Full Backing (Gross Settlements) will be applicable to transactions in shares of representative list of KASE index. That is, two order books will operate for each share of representative list of KASE index in the trading system.

During the trial operation the market makers of shares of representative list of KASE index will have to perform their duties only when working with instruments traded using the scheme T+0.

For the convenience of the trading participants during the trial operation the codes of instruments traded using the scheme T+2 will contain the characters “T2”.

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