Article 15-1. Exchange trading mode The Law on Commodity Exchanges

Home / RLA / Article 15-1. Exchange trading mode The Law on Commodity Exchanges

 1. Exchange trades are conducted in a double counter auction mode.

1) Standard auction mode;

2) Double counter auction mode.

2. Excluded by the Law of the Republic of Kazakhstan dated 04/02/2019 No. 241-VI (effective ten calendar days after the date of its first official publication).

3. In the standard auction mode, stock auctions are conducted taking into account:

1) disclosure of information about participants in exchange trading or its confidentiality, with the exception of information about the initiator of the auction, which is publicly available;

2) conducting auctions to lower or increase the price;

3) conducting an auction on the order of a buyer or seller of an unstandardized product; - Excluded by the Law of the Republic of Kazakhstan.

4) Exchange auctions are conducted taking into account the participation of at least three auction participants in the auction, including the auction customer;

5) the formation of the price of an unstandardized commodity, for which an exchange transaction is concluded, based on the results of the auction and determining it as the lowest price among those offered by participants in exchange trading for a decrease and the highest price among those offered by participants in exchange trading for an increase;

6) making exchange-traded collateral, unless otherwise provided by the rules of exchange trading.

4. In the double counter auction mode, exchange auctions are conducted taking into account:

1) confidentiality of information about participants in exchange trading;

2) prohibition of making cross-trades;

3) the formation of the price of an exchange-traded commodity for which an exchange transaction is concluded, in the process of competing offers from buyers and sellers and determining it as the best price for the buyer (minimum price from sellers) or as the best price for the seller (maximum price from buyers);

4) making exchange-traded collateral.

5. The procedure for conducting exchange trading in trading modes is determined by the rules of exchange trading. - Excluded by the Law of the Republic of Kazakhstan.

6. Commodity exchanges keep separate records of transactions on non-standardized goods. - Excluded by the Law of the Republic of Kazakhstan.

7. Commodity exchanges, when conducting exchange trades in the double counter auction mode, have the right to insure exchange transactions. - Excluded by the Law of the Republic of Kazakhstan.

The Law of the Republic of Kazakhstan dated May 4, 2009 No. 155-IV.

This Law regulates public relations arising in the course of commodity exchanges and exchange trading, establishes the procedure for regulating and state control over the activities of commodity exchanges in order to ensure their open and effective functioning, protect the rights of participants in exchange trading and fair competition between them.

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Republic of Kazakhstan

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