OREANDA-NEWS. November 17, 2010. In November 2010, Kazakhstan Stock Exchange (KASE) is set to launch trading in futures contracts, namely in cash-settled futures, reported the press-centre of KASE:

- KZT/USD exchange rate futures;

- KASE index futures.

The futures market's set-up is the one which is to keep up with the international standards and will comprise the following units:

1. A risk management system: limitations system, collection of marginal and guarantee fees, setting up a reserve fund, based on Exchange's own financial means;

2. Arranging a clearing session after a trading day's end;

3. A system for settlement of instances involving non-performance by participants of their liabilities.

With regard to all deals concluded on the futures market the Exchange will act as a Central Counteragent whose liability is limited to the Exchange's reserve fund (at initial stage the Board of Directors approved a reserve fund on the Exchange's futures market making up KZT170 m).

It is to be reminded, that in order to get admittance to Exchange's futures market trading, Exchange members must do the following:

1. Apply for Exchange futures market membership;

2. Apply for admittance to Exchange trading in futures contracts;

3. In order to be able to trade in USD/KZT exchange rate futures, they need to:

 - Have authorized capital equaling to 5,308,000 MCI (circa USD50.8 m);

 - Contribute a guarantee fee of KZT2.0 m;

4. In order to be able to trade in KASE index futures, they need to:

 - Contribute a guarantee fee of KZT1.0 m.

With queries regarding futures contracts trading, contact the Business Development Department on tel. (727) 237 53 40 or write to e-mail: project@kase.kz.