LAW OF THE REPUBLIC OF KAZAKHSTAN

of May 4, 2009 No. 155-IV ZRK

About commodity exchanges

The preamble is excluded according to the Law of the Republic of Kazakhstan of 30.12.2024 No. 149-VIII ZRK

Chapter 1. General provisions

Article 1. The basic concepts used in this Law

In this Law the following basic concepts are used:

1)  No. 241-VI ZRK is excluded according to the Law of the Republic of Kazakhstan of 02.04.2019;

1-1) exchange biddings - the process which is carried out within rules of stock exchange trading, directed to transactions on exchange goods on the basis of the electronic applications submitted to the electronic trading system of commodity exchange providing automation of process of the conclusion of stock exchange transactions;

1-2) exchange brokers (further - the broker) - the legal entity performing the activities at commodity exchange and making transactions with exchange goods on the order for the account and for the benefit of the client;

2) the stock dealer (further - the dealer) - the subject of entrepreneurship performing the activities at commodity exchange and making transactions with exchange goods in the interests and at own expense;

2-1) exchange providing - the cash cover brought on returnable basis by participants of stock exchange trading in clearing center of commodity exchange for participation in the exchange biddings as ensuring execution of the obligations on the concluded stock exchange transactions;

3) No. 149-VIII ZRK is excluded according to the Law of the Republic of Kazakhstan of 30.12.2024

4) No. 96-VIІ ZRK is excluded according to the Law of the Republic of Kazakhstan of 30.12.2021

5) No. 149-VIII ZRK is excluded according to the Law of the Republic of Kazakhstan of 30.12.2024

6) No. 149-VIII ZRK is excluded according to the Law of the Republic of Kazakhstan of 30.12.2024

Exchange goods - the standardized homogeneous goods included in the list of exchange goods and (or) the list of socially important exchange goods which units are identical in every respect similar characteristics have 7) and consist of similar components that allows them to perform the same functions having property of complete interchangeability of batches from different producers;

8) the quotation of exchange goods - the price of demand and (or) the offer announced on exchange goods at a given time at commodity exchange;

8-1) stock exchange trading - the business activity on realization (acquisition) of exchange goods and terminal contracts performed at commodity exchange by carrying out the exchange biddings electronically, registration and execution of transactions;

8-2) participants of stock exchange trading - the clients, brokers, dealers and market makers interacting at commodity exchange on statutory rules of stock exchange trading;

9) the order - the document submitted by the client to the broker with indication of implementation of certain action at commodity exchange concerning specific exchange goods;

9-1) guarantee fund - the cash fund created by clearing center of commodity exchange at the expense of fees of members of the exchange for the purpose of ensuring execution of the bargains concluded at the exchange;

9-2)  No. 241-VI ZRK is excluded according to the Law of the Republic of Kazakhstan of 02.04.2019;

10) the client - the physical person including registered as the individual entrepreneur, or the legal entity using services of the broker for transactions with exchange goods according to the procedure, established by this Law;

11)  No. 364-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 27.10.2015

11-1) cross-transaction - stock exchange transaction in case of which the broker, being effective at the request of two different clients, acts both from the seller, and from the buyer;

11-2) mode of double counter auction - the trade mode in case of which stock exchange transactions are concluded anonymously as a result of sales contest and buyers and the price of exchange goods are established on equilibrium level of the demand and supply;

11-3) market maker - the legal entity creating and maintaining liquidity of the stock exchange market by drawing of quotations and adoption of obligations on purchase and sale of terminal contracts;

12) the terminal contract - the contract for unconditional or conditional purchase and sale of underlying asset with delayed execution, the future, the option concern to him;

12-1) faultless goodwill - availability of the facts confirming professionalism, conscientiousness including lack of the facts of committing by person of illegal actions (failure to act) which resulted in the insolvency which entailed involuntary liquidation of the financial organization, or to reference of bank to category of insolvent banks, lack of not removed or unspent conviction, including lack of the court resolution which took legal effect about application of criminal penalty in the form of deprivation of the right to hold leading employee position of the financial organization, bank and (or) insurance holding and to be the large member (large shareholder) of the financial organization for life, and also lack of the relations with the third parties (control and influence of the third parties) whose actions promoted legalization (washing) of income gained in the criminal way to financing of terrorism and financing of distribution of weapons of mass destruction, based on data of authorized body on financial monitoring;

13) No. 36-V ZRK is excluded according to the Law of the Republic of Kazakhstan of 10.07.2012

14) option transaction - stock exchange transaction which object is the option;

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