Кыргызская фондовая биржа

1. Application area.
1.1. The present Regulations of CJSC «Kyrgyz Stock Exchange» (further «Regulations») are the internal document of CJSC «Kyrgyz Stock Exchange» (further «KSE») defining:
- requirements to persons for conclusion with them of the contract on participation on the trades organized by KSE;
- amount of the Registration course NBKR on: and annual fees for participating on the trades and order of payment;
- contract conclusion order on participating on the trades and contract to participate on the trades for the trade of the state shares;
- the schedule of the trades order for granting of access to participants of the trades to tradinf system.
1.2. The norms established by the present Regulations are obligatory to execution by participants of the trades and their authorized persons during all period of validity of the contract on participation of such Participant of the trades in the auctions, organizad by KSE.
1.3. Changes and additions to the present Regulations are subject to approval by Board of Directors of KSE and are installed after the preliminary notice in writing of Participants of the trades not less than 5 calendar days prior to date of their prospective introduction into force.

2. Requirements to persons, for the conclusion with them of the Contract on participation on the trades.
2.1. The persons applying for the conclusion of the contract on participation on the trades, held on КSE, should correspond to following requirements:
а) To have the license for conducting broker and-or dealer activity of the authorized state structure on regulation of a securities market of the Kyrgyz Republic.
б) To pay an admission fee established by the present Regulations.



3. Order of the contract conclusion on participation on the trades.

3.1. For the contract conclusion on participation on the trades the corresponding person should give КSE following documents:
- The statement for intention to conclude the contract;
- Copy of licenses/licenses for a corresponding kind of the professional work, assured by the applicant.
3.2. КSE considers the presented documents and will make the decision on the conclusion of the contract on participation on the trades within 7 days. Such decision accepts Board of Directors of KSE.
3.3. The person with whom the contract on participation on the trades is concluded is obliged within 3 days from the date of its conclusion to pay the Registration course NBKR on: payment established by the present Regulations. In case of infringement of terms of payment of an admission fee, the contract on participation on the trades is terminated.
3.4. The authorized traders of the persons who have concluded with КSE the contract on participation on the trades, will get the admission to trading system according to procedure of Exchange charter КSE.

4. Requirements to persons, for the conclusion with them of the Contract on participation on the trades on sale of the state share.
4.1. The persons applying for the conclusion of the contract on participation on the trades on sale of the state share, held on КSE, should have the license for conducting broker and-or dealer activity of the authorized state agency on regulation of a securities market of the Kyrgyz Republic.
4.2. To the persons concluding the contracts on participation in the auctions on sale of the state share holdings, spent on КSE, requirements of the subparagraph of point 2 1 The present Regulations aren t applied.
4.3. The persons who have concluded the contract on participation on the trades on sale of the state share holdings, held on КSE, are supposed only to the trades on sale of the state share holdings.

5. Order of the contract conclusion on participation on the trades on sale of the state share holdings.
5.1. For the contract conclusion on participation on the trades on sale of the state share holdings, the corresponding person should give КSE following documents:
- The statement for intention to conclude the contract;
- Copy of license and licenses for a corresponding kind of the professional work, assured by the applicant.
5.2. Within 2 days, after granting of documents according to item 5 1, КФБ concludes with it the contract on participation on the trades on sale of the state share holdings. The decision on the Contract conclusion is accepted by President of КSE.
5.3. The authorized traders of the persons who have concluded with КSE the contract on participation on the trades on sale of the state share holdings, get the admission to trading system in accordance with general practice, according to procedure of Exchange charter of KSE.

6. The size of Registration course NBKR on: and annual fees.
6.1. Admission fee – the single fee raised by KSE with a view of creation of technical and technological conditions on participation of its payer in the auctions, spent КФБ. As payers of an admission fee the persons concluding the contract on participation in the auctions according to section 2 and 3 present Regulations act.
6.2. Annual fee – the fee raised by KSE on an annual basis with a view of maintenance of technical and technological conditions on participation of its payer on the trades, held by KSE. Annual fee is paid by the participant of the trades within the first month from the moment of the conclusion of the contract on participation on the trades between КSE and the Participant of the trades. The next years annual fee should be paid within the first month of each next year.
6.3. The size of Registration course NBKR on: and annual fee is defined according to the following table:

6.4. In case of infringement by the Participant of the trades of repayment terms of annual fee, КSE terminates with it the Contract on participation on the trades unilaterally, fees paid by earlier such person, to return aren t subject.

7. The schedule of the trades and order of granting of access of Participants of the trades to trading system of KSE.
7.1. The time interval during which the Participant of the trades has the right to use trading system of KSE, is called as access session. Time of functioning of access session from 9-30 till in the working days. The working day is defined according to the legislation of the Kyrgyz Republic.
7.2.КSE has the right to spend preventive works during which the trading system can not function.The decision on carrying out of preventive works is accepted by КSE President with the notice of Participants of the trades 2 calendar days prior to date of their carrying out.
7.3. Access session consists of following consecutive stages:
- Operating time in trading system of KSE prior to the beginning of trading session (from 9-30 to 10-29, inclusive);
- trading session (from 10-30 to 14-59, inclusive);
- calculating session (from 15-00 to 17-59, inclusive).
7.4. Trading session, can be prolonged for term no more than 30 minutes.The decision on prolongation of trading session is accepted by President КSE on the basis of the motivated written statement of the participant of the trades.
7.5. About any changes and or deviations from the schedule specified in item 7 3 The present Regulations, КSE informs participants of the trades by means of sending of electronic messages through software product of trading system, and in a case if the software product doesn t function in the form of the letter, the facsimile message, the letter sent by means of email, within the current working day or earlier.
7.6. The auctions by the state share holdings can be carried out under other schedule, and also in the form of special trading sessions, conditions and which schedule affirms together with conditions of carrying out of the corresponding auctions.