On signing an Agreement on the admission of brokers and dealers of one Member State of the Eurasian Economic Union to participate in organized auctions of exchanges (trade organizers) of other Member States
Decree of the President of the Republic of Kazakhstan dated March 31, 2026 No. 1219.
In accordance with subparagraph 1) of Article 8 of the Law of the Republic of Kazakhstan "On International Treaties of the Republic of Kazakhstan", I HEREBY DECREE:
1. To approve the attached draft Agreement on the admission of brokers and Dealers of one member State of the Eurasian Economic Union to participate in Organized auctions of exchanges (trade organizers) of other Member States (hereinafter referred to as the Agreement).
2. To authorize the Prime Minister of the Republic of Kazakhstan, Olzhas Bektenov, to sign an Agreement on behalf of the Republic of Kazakhstan, authorizing amendments and additions that are not of a fundamental nature.
3. This Decree shall enter into force from the date of its signing.
President of the Republic of Kazakhstan
K. Tokaev
Approved by Decree of the President of the Republic of Kazakhstan on March 31, 2026 No. 1219
Project
Agreements on the admission of brokers and dealers of one member State of the Eurasian Economic Union to participate in organized auctions of exchanges (trade organizers) of other Member States
The Member States of the Eurasian Economic Union, hereinafter referred to as the Member States,
based on the Treaty on the Eurasian Economic Union of May 29, 2014,
in order to create appropriate conditions for the functioning of the common financial market within the framework of the Eurasian Economic Union (hereinafter referred to as the Union),
Sharing the desire to protect the rights and legitimate interests of financial services consumers and investors,
Recognizing the need to ensure the admission of brokers and dealers of one Member State to participate in organized auctions of exchanges (trade organizers) of other Member States,
Expressing interest in strengthening mutual trade and investment cooperation between the Member States in order to stimulate the development of the financial markets of the Member States,
Based on the principles of equality and mutual benefit, taking into account the economic interests of each of the Member States,
providing each other with full assistance in order to implement this Agreement,
have agreed on the following:
Article 1
For the purposes of this Agreement, concepts are used that mean the following::
"exchange (trade organizer)" is a legal entity that provides services for conducting organized trading in securities and (or) derivative financial instruments in accordance with the legislation of the member state in which this legal entity is registered and on the basis of a license (permit) issued (granted) by the authorized body of this Member State. (conclusion of contracts that are derivative financial instruments);
"broker" is a legal entity that carries out brokerage activities in accordance with the legislation of the Member State in which this legal entity is registered and on the basis of a license (permit) issued (granted) by the authorized body of this Member State.;
"brokerage activity" is an activity carried out on the basis of contracts with clients to execute their orders related to the execution of civil law transactions with securities and (or) the conclusion of contracts that are derivative financial instruments.;
"depository", "central depository" - a legal entity that carries out depository activities on the basis of a license (permit) issued (granted) by the authorized body of the member state in which this legal entity is registered and (or) in accordance with the legislation of this Member state.;
"depository activity" - activity in the securities market for the provision of services for accounting and transfer of rights to securities;
"dealer" is a legal entity that carries out dealer activities in accordance with the legislation of the Member State in which this legal entity is registered and on the basis of a license (permit) issued (granted) by the authorized body of this Member State.;
"dealer activity" means making transactions for the purchase and sale of securities and (or) concluding contracts that are derivative financial instruments on one's own behalf and at one's own expense, if such transactions (concluding contracts) require a license (permit) issued (provided) by an authorized body of a Member state, in where the person making such transactions (concluding contracts) is registered;
"admission to participate in organized trades of the exchange (trade organizer)" - providing the opportunity for direct participation in organized trades conducted by the exchange (trade organizer) to conclude contracts for the purchase and sale of securities and (or) derivative financial instruments (contracts that are derivative financial instruments);
"foreign client" means an individual who is not a citizen of a member State and uses the services of a broker, or a legal entity registered in the territory of a non-member State and uses the services of a broker.;
"clearing" is the definition of obligations to be fulfilled arising from contracts concluded at organized auctions, and the preparation of documents (information) that are the basis for termination and (or) fulfillment of such obligations, as well as ensuring the fulfillment of such obligations.;
"clearing activities" - activities related to the provision of clearing services;
"clearing organization" is a legal entity that carries out clearing activities in accordance with the legislation of the Member State in which this legal entity is registered.;
"national client" is an individual who is a citizen of a Member State, or a legal entity registered (established) in the territory of a Member State, using the services of a broker registered in the territory of that Member State.;
"foreign nominee account" means an account opened by the depository (central depository) of one Member State to the depository (central depository) of another Member State or to a broker of another Member State, which, in accordance with the legislation of its member State, is entitled to carry out depository activities.;
"authorized body" is an authority of a member State that, in accordance with the legislation of that member State, has the authority to regulate, license, control, and supervise the activities of exchanges (trade organizers), brokers, dealers, depositories (central depositories), and clearing organizations, with the exception of bodies with authority only in relation to territories Member States that have a special legal regime in the financial sector.
Other concepts used in this Agreement are applied in the meanings defined by the Treaty on the Eurasian Economic Union of May 29, 2014 and international treaties within the Union.
Article 2
1. The subject of this Agreement is to ensure the admission of brokers and dealers of one Member State to participate in organized trading in securities and (or) derivative financial instruments (conclusion of contracts that are derivative financial instruments) (hereinafter referred to as derivative financial instruments) conducted by the exchange (trade organizer) of another Member State.
2. The provisions of this Agreement do not apply to brokers, dealers, exchanges (trade organizers), clearing organizations, depositories that are registered or established in the territory of a Member State within which a special legal regime in the financial sector operates.
3. Each Member State shall create conditions for the admission to participate in organized auctions of the exchange (trade organizer) of dealers of other Member States to carry out dealer activities, as well as brokers of other Member States to carry out brokerage activities in the interests exclusively of national clients and foreign clients, subject to the provisions of paragraph 10 of this Article.
4. The admission of brokers and dealers of one Member State to participate in organized auctions of the exchange (trade organizer) of another Member State is provided on terms no less favorable than those provided by the exchange (trade organizer) to brokers and dealers registered in the territory of this other Member State, subject to the provisions of this Agreement.
5. Admission to participate in organized trades of the exchange (trade organizer) of one member State is granted to brokers and dealers of other member States on the basis of a license (permit).
A license (permit) is issued (granted) in accordance with the requirements of the legislation of the Member State in whose territory the broker or dealer is registered. At the same time, the exchange (trade organizer) of one member state, which faithfully relies on the fact that such a license (permit) exists, has the right to assume that the authorized body of the member state in whose territory the broker or dealer is registered has carried out an inspection and has not revealed the fact of an outstanding or outstanding criminal record for crimes of persons holding senior positions in the broker or dealer, its beneficial owners and persons exercising direct or indirect control (or having significant influence over the broker or dealer, in accordance with the legislation of the Member State in whose territory the broker or dealer is registered.
6. Upon admission to participate in the organized trades of the exchange (the organizer of the trade), brokers and dealers are given the opportunity:
1) submit applications and conclude transactions at organized auctions (subject to meeting the requirements of the exchange (trade organizer);
2) become clearing participants using the services of a clearing organization registered in the territory of the member state in which the exchange (trade organizer) is registered (provided that the requirements of such organization are met);
3) obtain technical access to organized trading and clearing (provided that the requirements of the person providing such technical access are met);
4) open relevant accounts in the depositories (central depositories) of the Member States (subject to compliance with the requirements of the depository (central depository)).
7. Access to participate in organized trades of an exchange (trade organizer) of one Member State may be granted to brokers and dealers of other Member States by providing remote access to participate in organized trades, depository and clearing services.
8. Admission to participate in organized trades of an exchange (trade organizer) of one member state is granted to brokers and dealers of other member States, provided that they comply with the requirements of the legislation of the member state in which this exchange (trade organizer) is registered, including in the field of securities market regulation (including brokerage and dealer transactions on securities and derivative financial instruments market), in the field of countering abuses in the securities and derivative financial instruments market, including market manipulation and misuse of insider information, in the field of countering the legalization (laundering) of proceeds from crime and the financing of terrorism, in the field of exchange, clearing and depository activities, as well as subject to compliance with the rules established by the exchange (trade organizer).
Licensing requirements, requirements for brokerage and dealer activities, and prudential supervision standards determined by the legislation of the member State (authorized body of the member State) in which the exchange (trade organizer) is registered do not apply to brokers and dealers of other member States.
The broker's interaction with clients is carried out in accordance with the procedure determined by the legislation of the Member State (the authorized body of the member State) in which the broker is registered.
9. Brokers and (or) depositories (central depository) of one Member State, carrying out depository activities in accordance with the legislation of this Member State, have the right to open accounts in depositories (central depositories) of other Member States in accordance with the procedure established by the legislation of these other Member States.
The broker and (or) depositories (central depository) who open the account of a foreign nominee holder are obliged to ensure compliance with the requirements for depository activities established by the legislation of the Member State in whose territory the depository (central depository) in which such an account is opened operates.
10. A Member State may, subject to compliance with the requirements set out in paragraphs 3 and 4 of this Article, impose restrictions for a certain period of time on individuals and legal entities, as well as residents of third countries and territories, to which brokers of the Member States admitted to participate in organized auctions of the exchange (trade organizer) of this Member State do not has the right to provide services on the territory of this Member State.
The exchange (trade organizer), within a period agreed with the authorized body of the member state in which it is registered, suspends, in accordance with the established procedure, the admission to participate in organized trading for a broker who continues to carry out brokerage activities on this exchange (trade organizer) in the interests of individuals and legal entities, residents of third countries and territories, in respect of which are subject to the restrictions provided for in the first paragraph of this paragraph, and resumes admission when such restrictions are lifted by the Member State or when the broker fulfills the requirements established by the member State and the exchange (the trade organizer). If technically possible, the broker's admission to participate in organized trades is suspended only in part of the operations performed by the broker in the interests of such clients. At the same time, settlements on transactions concluded by the broker before the suspension of his admission to organized trading must be completed.
11. In order to maintain the stability of the financial system and (or) prevent economic risks (in exceptional cases), each Member State may determine a temporary special procedure and conditions for transactions in securities and derivative financial instruments at organized auctions of the exchange (trade organizer) of this Member State by both brokers and dealers of this Member State and brokers and dealers of other member States who are allowed to participate in organized trades of the exchange (trade organizer) of this Member State. The application of such measures is terminated if the circumstances that led to their introduction have ceased to be effective.
Article 3
The authorized bodies, if necessary, assist the exchanges (trade organizers) of the member States in establishing interaction between the exchanges (trade organizers), including through the conclusion of relevant agreements by the exchanges (trade organizers).
As part of the implementation of this Agreement, the authorized body of one member State provides assistance to the exchange (trade organizer) of another member state at the request of this exchange (trade organizer) in the form of providing it with information on issues related to the requirements of the legislation of its member state to brokers and (or) dealers, as well as to depository activities, in respect of which this authorized body has the authority to regulate and (or) control (supervision).
Article 4
The exchange of information between the authorized bodies in order to implement this Agreement is carried out in accordance with the Agreement on the Exchange of Information, including Confidential Information, in the Financial Sector in order to create conditions on the financial markets to ensure the free movement of Capital dated December 23, 2014.
Article 5
1. The authorized body of the member state in which the exchange (trade organizer) is registered determines the procedure and deadlines for the exchange (trade organizer) to provide it with the following information:
1) on the decision taken by the exchange (trade organizer) on the admission (resumption of admission) of brokers and dealers of other member states to participate in organized trades of the exchange (trade organizer);
2) on the decision taken by the exchange (trade organizer) to suspend (terminate) the admission of brokers and dealers from other member States to participate in organized auctions of the exchange (trade organizer);
3) on the decision taken by the exchange (the trade organizer) on the application of measures of influence to brokers and dealers of other member states admitted to participate in organized trades of the exchange (the trade organizer);
4) on signs indicating possible violations by brokers (their clients) and dealers of other member states of the requirements and prohibitions established by the legislation of the member state in which the exchange (organizer of trading) is registered in the field of countering the misuse of insider information and market manipulation;
5) on signs indicating possible violations by brokers of other member States of the requirements of the legislation of their member State concerning the broker's interaction with clients (if such information is available);
6) on the facts of significant violations by brokers and dealers of other member states of the requirements and prohibitions established by the exchange (the organizer of trade) revealed by the exchange (the organizer of trade). The criteria for the materiality of violations may be determined in accordance with the rules of the exchange (organizer of trading) and (or) the legislation of the member state in which the exchange (organizer of trading) is registered;
7) about other violations, events and facts at the discretion of the exchange (organizer of trading) and (or) the authorized body of the member state in whose territory the exchange (organizer of trading) is registered.
2. Upon receipt of the information specified in the sub-paragraphs 1) - 3), 5) - 7) paragraph 1 of this article, the authorized body of the member state in which the exchange (trade organizer) is registered shall transmit this information to the authorized bodies of the member states in which brokers and dealers are registered as soon as possible, but no later than 30 calendar days from the date of receipt of the information.
3. The authorized body publishes the following information on its official website on the Internet information and telecommunication network:
1) on suspension (renewal) of the license (permit) or suspension (resumption) of the professional activity of a broker, dealer, depository (central depository), exchange (trade organizer), indicating the period of suspension (date of resumption) - no later than 1 business day following the day of the relevant decision;
2) on the cancellation (termination, invalidation) of the license (permit) or termination of the professional activity of a broker, dealer, depository (central depository), exchange (trade organizer), indicating the date of cancellation (termination, invalidation) of the license (permit), termination of professional activity - no later than 1 business day the day following the days of making the relevant decision;
3) on the establishment of prohibitions or restrictions on the conduct by a broker, dealer, depository (central depository), exchange (trade organizer) of certain operations on the securities market and (or) derivative financial instruments, if the obligation to disclose such information is provided for by the legislation of the member State in which the broker or dealer is registered, with specifying the period of the ban (restriction) - no later than 3 calendar days following the date of the relevant decision.
4. The authorized body shall disclose information on other measures applied in relation to the broker, dealer, depository (central depository), exchange (trade organizer), if disclosure of such information is provided for by the legislation of this member State, in accordance with the procedure and time limits provided for by such legislation.
Article 6
1. The authorized body of the member state in which the exchange (trade organizer) is registered has the right to inspect the activities of brokers and dealers of other member States on the territory of its state on the basis of the information specified in subparagraphs 1) -4), 6) and 7) of paragraph 1 of Article 5 of this Agreement.
The inspection by the authorized body of the member state in which the exchange (the organizer of trade) is registered is carried out in accordance with the legislation of this member state.
2. The authorized body of the member State in which the broker is registered who has committed a violation in terms of the procedure for interacting with clients, information about which is provided in accordance with paragraph 2 of Article 5 of this Agreement, shall take measures aimed at eliminating violations and (or) involving such broker and (or) other persons who have committed the said violation, to be held accountable, and informs about it (if necessary, provides supporting documents) the authorized body of the member state in which the exchange (trade organizer) is registered, no later than 14 working days from the date of the decision on the application of appropriate measures.
In this case, the audit may be conducted by the authorized body (organizer of the audit) of the member State in which the broker is registered, together with the authorized body of the member State in which the exchange (organizer of trade) is registered, by agreement between these authorized bodies, if such inspections do not contradict the legislation of these member states.
3. In case of violation of the requirements and prohibitions established by the legislation of this member state, including in the field of countering the misuse of insider information and market manipulation, the authorized body of the member state in which the exchange is registered (the organizer of trading) takes measures aimed at eliminating violations and (or) holding the broker accountable or the dealer and (or) other persons who have committed such violations, and informs about it (if necessary, provides supporting documents) the authorized body of the Member state., in which the broker or dealer is registered, no later than 14 working days from the date of the decision on the application of appropriate measures.
In this case, the audit may be conducted by the authorized body (organizer of the audit) of the member State in which the exchange (organizer of trade) is registered, together with the authorized body of the member State in which the broker or dealer is registered, by agreement between these authorized bodies, if such inspections do not contradict the legislation of these member States.
4. The exchange (organizer of trading) has the right to suspend (terminate) the admission to participate in organized trading of a broker or dealer of another member state in case of violation by this broker or dealer of the requirements and prohibitions established by the legislation of the member state in which the exchange (organizer of trading) is registered, including in the field of countering the misuse of insider information. information and market manipulation, as well as the rules of the exchange (the organizer of trading).
The exchange (trade organizer) suspends (terminates) the admission to participate in organized auctions of a broker or dealer of another Member State in the event of receipt from the authorized body of the member state in which the exchange (trade organizer) is registered of information on the need to suspend (terminate) the admission to participate in organized auctions of the relevant broker or dealer.
The suspension (termination) by the exchange (trade organizer) of the admission to participate in organized trades of a broker or dealer of another member state in case of violation by this broker or dealer of the requirements and prohibitions established by the legislation of the member state in which such exchange (trade organizer) is registered does not apply to the admission of the broker or dealer to participate in organized trading exchanges (trade organizers) registered in other Member States.
5. If the authorized body of the member state in which the exchange (trade organizer) is registered receives information about other violations not provided for in this Agreement, this authorized body, in accordance with the legislation of its state, shall take measures aimed at eliminating violations and (or) involving the relevant broker or dealer and (or) persons responsible for the perpetrators of these violations are held accountable, and the authorized body of the Member State in which the broker or dealer is registered is informed about this., no later than 14 working days from the date of the decision on the application of appropriate measures.
In this case, the audit may be conducted by the authorized body (organizer of the audit) of the member State in which the exchange (organizer of trade) is registered, together with the authorized body of the member State in which the broker or dealer is registered, by agreement between these authorized bodies, if such inspections do not contradict the legislation of these member States.
6. If, on the basis of information received in accordance with paragraph 2 of Article 5 of this Agreement, the authorized body of the Member State in which the broker or dealer is registered decides to apply measures of influence against the relevant broker or dealer and (or) other persons, this authorized body shall inform the authorized body of the Member State about this.the member in which the exchange (the trade organizer) is registered, who provided the specified information, no later than 14 working days from the date of the decision on the application of appropriate measures.
7. The authorized body of the member State in which the exchange (trade organizer) is registered, which has transmitted the information specified in paragraph 2 of Article 5 of this Agreement, shall notify the exchange (trade organizer) of the results of the inspection of the broker or dealer by the authorized body of the member state in which the broker or dealer is registered.
If violations are detected by the authorized body of the member state in which the broker or dealer is registered, the exchange (trade organizer) shall take actions aimed at applying measures of influence to the broker or dealer, including suspension (termination) of admission to participate in organized trades of the exchange (trade organizer).
8. If a broker or dealer of one member State who has received admission to participate in organized trades of an exchange (trade organizer) of another member State refuses to comply with decisions taken in respect of him by the authorized body of the member state in which the exchange (trade organizer) is registered, the authorized body of the member state in which the broker is registered the broker or dealer applies the measures provided for by the legislation of that Member State aimed at ensuring that the broker or dealer executes these decisions.
9. Issues related to the application of liability measures and enforcement of decisions taken by public authorities of the Member States and authorized bodies, as well as other issues not regulated by this Agreement, are determined by the legislation of the Member States.
Article 7
1. Issues related to the implementation of this Agreement are considered by the authorized bodies within the framework of joint consultations with the participation, if necessary, of representatives of the Eurasian Economic Commission.
2. Disputes related to the interpretation and/or application of this Agreement are resolved in accordance with the procedure established by the Treaty on the Eurasian Economic Union of May 29, 2014.
3. By mutual agreement of the Member States, amendments may be made to this Agreement, which are formalized in separate protocols.
4. This Agreement is an international agreement concluded within the framework of the Union and is included in the law of the Union.
Article 8
This Agreement shall enter into force on the date of receipt by the depositary, through diplomatic channels, of the last written notification on the completion by the Member States of the internal procedures necessary for the entry into force of this Agreement.
Committed in the city _____________________ 202 ___ year in one original copy in Russian.
The original copy of this Agreement shall be kept at the Eurasian Economic Commission, which, as the depositary of this Agreement, will send each member State a certified copy thereof.
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