KASE develops special version of trade system for People's IPO Program
Astana. July 23. Kazakhstan Today - The Kazakhstan Stock Exchange develops a special version of a trade system for the People's IPO Program, Kazakhstan Today reports.
"A trade system is different in terms of increased functional specifications regarding supporting a big number of trade accounts, applications and deals," the Prime Minister's official website quotes the statement of the press service of the KASE.
Besides, every time when submitting an application a new trade system will be holding registering process and additional check through the information system of "Central Securities Depository" JSC.
Currently, this version of the trade system for the Program is at the stage of final internal tests and it will be fully ready by the time the People's IPO Program is launched.
Besides, it was informed that the Stock Exchange developed internal document "Terms of subscription for shares" which was created for implementation of this Program. "We have had a big work on development of this document and this June it was approved by the Committee for the control and supervision of the financial market and financial organizations of the National Bank," the statement reads.
As is known, the main task of the Kazakhstan Stock Exchange regarding implementation of the People's IPO Program is holding technical works on receiving applications and forming of the book of applications for purchase of shares, sending the information about the concluded in the trade system deals for purchase of securities to the Central Depository.
The People's IPO Program is implemented on the initiative of President of Kazakhstan Nazarbayev which will allow the people of Kazakhstan to become the owners of the shares of the biggest national companies and it is also aimed at development of the stock exchange market in the country. The shares of the first company - "KazTransOil" - will be placed in the market in the second half of this year.
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