OREANDA-NEWS. May 12, 2011. Following a decision of Kazakhstan Stock Exchange (KASE) Board of Directors dated April 28, 2011, the revised edition of KASE internal document - "Rules of Exchange Information Dissemination" (Rules) have been approved, reported the press-centre of KASE.

The Rules will be submitted to the National Bank of the Republic of Kazakhstan for approval and will be made effective upon their approval by the authorized body.

The necessity of a new edition of the Rules was based on several reasons, of which the following are the main ones:

- Entry into force from March 16, 2011 of KASE internal document "Main Provisions on Information Policy of Kazakhstan Stock Exchange", which was designed with a revised edition of the Rules in mind;

- in the current version of the Rules:

  - there is no comprehensive description of particular types of exchange information;

  - the classification of ways of exchange information dissemination is obsolete;
                                                                       
  - there are no regulations defining the main way of dissemination of particular types of exchange information;

  - there is no definition of the most reliable and trustworthy source of main  types of exchange information;

  - there is no clear separation of information provided free of charge and against payment of a fee.

- need for arranging the structure of the Rules.

The most important distinctions of the new edition of the Rules from the current one are the following ones.

1. The classification of exchange information has been updated and arranged (including through incorporating of real-time, delayed and derived market data).

2. Main and additional ways of dissemination of particular types of exchange information have been determined.

3. Priority sources of the most important exchange information have been determined, which should be used in case of deviations arising between various publications made by the Exchange.

4. Clear division of exchange information into the one disseminated free of charge (disseminated freely) and the one supplied against payment of a fee) has been made. At the same time it is determined that only information products are distributed against payment of a fee: exchange information  arranged, classified, and processed with the purpose of its selling.

5. A regulation has been set according to which the Exchange may draw a third party (an authorized agency) for dissemination of its information products.

6. Conditions of the secondary dissemination of exchange information have been determined.

7. Regulations regarding limitation of the Exchange's responsibility when distributing exchange information have been supplemented. In particular, a definition has been introduced into the text of the Rules according to which exchange information disseminated cannot serve as a recommendation for making  any transaction on the financial market.

Beginning from the effective date of the new Rules the previous edition of the Rules will be declared invalid.

The revised text of the Rules will be published on the KASE website after their approval by the National Bank of the Republic of Kazakhstan.