Board of Directors of KASE approved the Rules for making settlements on trading in foreign currencies in a new version

By the decision of Board of Directors of Kazakhstan
Stock Exchange (KASE) on August 15, 2018, KASE approved the internal document
“Rules on Execution of Settlement on Foreign Currency Trades Results” (Rules) in a new version.

The rules will be put into effect from the date of the beginning of KASE as a
central counterparty on the foreign exchange market, which will be announced
additionally.

The new version of the Rules was developed in order to update the current Rules
and contains the following main changes:

• The notions of ways to ensure the execution of transactions by clearing
participants (without collateral, with partial collateral, with full coverage),
margin security and margin requirements have been introduced;

• the specifics of settlements by clearing participants depending on the
category of the clearing participant;

• the rules describing the current regimes for making settlements by bidders are
excluded;

• procedures for making payments by bidders and KASE have been clarified;

• the rules on violation of payment discipline have been clarified.

The new edition will be published on the KASE website soon.