Settlement - KASE Clearing Centre

The KASE Clearing Center ensures execution of cash settlements on all serviced markets where the central counterparty (CCP) participates, according to the Delivery versus Payment principle.

To carry out clearing activities, the KASE Clearing Center has a developed network of correspondent accounts intended for:

settlement of transactions involving the CCP
accounting of guarantee and reserve contributions
storage of margin contributions
ensuring full and/or partial fulfillment of obligations of clearing participants

Correspondent accounts of the KASE Clearing Center are opened with the National Bank of the Republic of Kazakhstan as well as with second-tier banks of the Republic of Kazakhstan and with foreign banks, which ensures flexibility and stability of the settlement infrastructure.

The KASE Clearing Center acts as a key settlement link in operations involving the CCP: all monetary settlements on the stock, FX and derivatives markets are conducted through the KASE Clearing Center. At that, the settlements on securities on the stock market are carried out through the central depository.

Accounts for the clearing activities have a special legal status:

they are not included in the property estate of the clearing organization, including in case of liquidation or bankruptcy;
they are exempt from foreclosure under obligations of the clearing organization;
they cannot be subject to claims from law enforcement or other government agencies on grounds not related to fulfillment of obligations of the clearing participants;
they are used exclusively for settlement and accounting of collateral.

Settlement details

Details of the KACC's multicurrency correspondent account with the Central Depository

List of special codes for identifying the payments of clearing participants when settling the transactions with the central counterparty on the stock market

When transferring Kazakhstani tenge, as well as foreign currencies from bank accounts in the Central Depository

Beneficiary name

Bank account number (BAN)

Beneficiary bank name:

Beneficiary bank's BIC:

Beneficiary code:

Payment purpose

one of the special codes for payment identification

When transferring foreign currencies from bank accounts of other service organizations

Name of the Clearing Center (specify in field 72), for foreign currencies except for Russian rubles:

Example: 
:72:/BNF/in favor of KASE Clearing Centre
//XXXXX OWNI

Name of the Clearing Center (specify in field 72), for Russian rubles:

Example:
:72:/NZP/V POLXZU KLIRINGOVOGO CENTRA 'KASE'
//XXXXX OWNI

where:
XXXXX – a clearing participant's trading code
OWNI – one of the special codes for payment identification

Name and SWIFT BIC of Central Securities Depository JSC:

Details of the Central Depository's correspondent account

Correspondent account details	The Central Depository's bank account number	Name and SWIFT BIC of the Central Depository's correspondent bank
In US dollars
In euros

Correspondent account details	In US dollars	In euros
The Central Depository's bank account number
Name and SWIFT BIC of the Central Depository's correspondent bank

In Chinese yuan

Correspondent account details	SWIFT BIC of Central Securities Depository JSC	Account of Central Securities Depository JSC	Name of Beneficiary Bank	Account of Beneficiary Bank	Name of Correspondent Bank	Account of Beneficiary Bank

Correspondent account details
SWIFT BIC of Central Securities Depository JSC
Account of Central Securities Depository JSC
Name of Beneficiary Bank
Account of Beneficiary Bank
Name of Correspondent Bank
Account of Beneficiary Bank