Tell us how the exchange trading will change?

As part of the implementation of the order of the Head of State given in the Address of September 1, 2020, the Ministry of Trade and Integration of the Republic of Kazakhstan has developed a draft law "On Amendments and additions to certain legislative acts on the development and improvement of exchange trading".
As explained by the head of the Exchange trade Department of the Ministry of Trade Maksat Tursynbekov, the draft law provides for the development of exchanges in three main areas:

- First, the requirements for transparency of commodity exchanges are increasing. Secondly, a serious attempt has been made to change the situation and create a truly competitive environment and new conditions for the development of exchange trading. And, thirdly, the task is to increase the volume of exchange trading.
If more detailed, then in the first direction, M. Tursynbekov added that this means the following activities:
- increase in the authorized capital;
- approval of the unified rules of exchange trading;
- introduction of a two-tier system of commodity exchanges;
- establishing requirements for the financial stability of commodity exchanges and exchange trading participants.
- The second direction has its own set of measures.

This means, for example, that a single accreditation will be established for stock brokers and dealers of goods, with the simultaneous lifting of the ban on their participation in several commodity exchanges. It also provides customers with access to participate in exchange trading as one-time visitors without intermediaries. The division of goods and trades into sections is taken into account. And, in addition, the authorized body will be given the authority to set the maximum lot size in one trading session, - said the representative of the Ministry of Trade.

The third direction, also explained in the MIT, allows for the possibility of setting differentiated rates depending on the type of section and the volume of transactions made, and an insurance tool is being introduced for both the conclusion of transactions on the exchange and the execution of contracts.
The introduction of all these amendments to the legislation, according to the Department of Internal Trade of the MIT-in the structure that develops the project, will make it more accessible and increase the volume of exchange trading. Among the important advantages, there will be an opportunity to set "natural" prices and attract new partners, which will undoubtedly affect the growth of the level of competition. Among the important arguments for the formation of a stable exchange sphere is the transparency of exchange transactions, which is also taken into account in the project.

As for the procedural aspects, on February 27, 2021, the draft law agreed with the interested state bodies and organizations was submitted to the Office of the Prime Minister of the Republic of Kazakhstan, and on March 17, 2021, the KPM sent the draft to the Presidential Administration. Further, according to the legislative rules, the draft law will be submitted to the Parliament of the Republic of Kazakhstan.