Kazakhstan to establish two-tier exchange trading system
Unified exchange trading rules will be introduced in Kazakhstan. They will clearly prescribe the rules for the exclusion of discrimination for brokers and dealers, as well as provide an opportunity for buyers and sellers to freely change the stock market without changing the conditions and trading procedures. The corresponding bill was presented in the Mazhilis of the Kazakh Parliament. The new document offers to create a two-tier system of commodity exchanges. The division into subtypes will give impetus to improve and develop this industry of the economy, said Kazakh Minister of Trade and Integration Bakhyt Sultanov.
“The first tier for commodity exchanges that trade in exchange goods provides for an increase in the authorized capital up to 700,000 times the monthly calculation index. The second tier is for commodity exchanges that trade only in non-standardized goods, the requirements for the minimum amount of the authorized capital remain the same – at least 300,000 times the monthly calculation index,” Sultanov said.
19 commodity exchanges are licensed in Kazakhstan to date. According to statistics, the number of transactions over the past 11 years has increased up to 48,000, in other words, by almost 50 times.
Translation and editing by Saniya Sakenova