/KASE, November 4, 2020/ – Kazakhstan Stock Exchange (KASE, or the Exchange)
notifies you of the conclusion on October 29, 2020 of an agreement on raising
liquidity in the national currency with the National Bank of the Republic of
Kazakhstan issuing intraday unsecured "overdraft" liquidity.
The provision of intraday liquidity will allow the Exchange to fulfill its
obligations towards clearing participants on the main clearing session on
time – until 18:00 o'clock ALT, in the event that a clearing participant fails
to fulfill his obligations on settlements following the results of the main
clearing session by 17:00 o'clock ALT.
Later, such clearing participant will be able to take part in an additional
trading session and settle his outstanding position by 17:00 o'clock ALT.
Thereafter, under the additional clearing session, the final net claim or net
obligation of such participant subject to fulfillment on the current day, will
be determined taking into account all his operations during the main and
additional sessions.
Thus, the possibility of obtaining intraday liquidity for these purposes will
allow the Exchange as the central counterparty to provide clearing participants
with better and more flexible settlement services.
The Board of Directors of the Exchange approved the conclusion of an
agreement with the National Bank of the Republic of Kazakhstan on the provision
of intraday liquidity, taking into account the fact that the Exchange's raising
of intraday "overdraft" liquidity may lead to an increase in KASE's
liabilities during the day by an amount equal to ten percent or more of the
Exchange's equity capital, as well as to the conclusion of a major deal.
Earlier there was a related news item dated October 2, 2020 "KASE's Board of
Directors approves raising intra-day liquidity in national currency from
National Bank of Republic of Kazakhstan" -
https://kase.kz/en/news/show/1443479/
[2020-11-04]