Article 15. Exchange Transaction of the Commodity Exchange Act

Home / RLA / Article 15. Exchange Transaction of the Commodity Exchange Act

1. An exchange transaction is a transaction, the subject of which is property admitted to circulation on the exchange, and which is concluded on the exchange by participants in exchange trading conducted by it in accordance with the legislation of the Republic of Kazakhstan on commodity exchanges and the rules of exchange trading.

2. Transactions made on a commodity exchange, but which do not comply with the requirements provided for in paragraph 1 of this article, are not considered exchange transactions.

3. Transactions with exchange-traded commodities included in the list of exchange-traded commodities, committed in violation of the requirements provided for in subparagraphs 2) and 3) of paragraph 5 of this Article, outside commodity exchanges, shall be declared invalid at the request of interested parties, the antimonopoly authority or the prosecutor.

4. Exchange transactions may not be carried out on behalf of and at the expense of the commodity exchange.

5. The list of exchange-traded goods contains:

 1) short names of exchange-traded goods and their codes in accordance with the Unified Commodity Nomenclature of Foreign Economic Activity of the Eurasian Economic Union;

The procedure for including goods in the list of exchange-traded goods is determined by the authorized body.

Commodity exchanges are prohibited from organizing exchange trading in goods that are not included in the lists of exchange-traded goods and socially significant exchange-traded goods.

2) for individual exchange–traded goods - the minimum size of the delivery lot, if equal or exceeded, their sale is subject to implementation only on the commodity exchange.;

3) for individual exchange–traded goods - the minimum share subject to mandatory sale through commodity exchanges, as well as the categories of entities subject to such obligation.

6. Settlements on transactions with exchange-traded commodities concluded at exchange auctions are carried out in the national currency.

7. Monitoring of trading in exchange-traded goods subject to mandatory sale through commodity exchanges is carried out by government agencies responsible for the relevant branches (spheres) of public administration.

8. Information about transactions concluded on the commodity exchange is publicly available.

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.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases