Asset servicing - Kazakhstan
Income collection
There is no payment date concept in the market but there is a payment period.
The standard record date for government securities is one business day before the date of the payment.
| Service offered | Remarks |
| Notification to customers | |
Standard Asset Servicing reporting via SWIFT MT56x, Xact Web Portal and Xact File Transfer. | See Section 8 “Asset servicing” of the Customer Handbook. See Connectivity manuals on the Clearstream website. |
| Payment of proceeds | |
Interest and redemption payments from issuers will be processed on CBL’s Kazakhstan Tenge (KZT) cash account opened with Citibank Kazakhstan JSC. Proceeds are calculated based on the positions recorded at the close of business on the record date and paid to the customer's account upon successful receipt and reconciliation of funds. Proceeds will be paid with the value with which they are received. Funds under the Available for Cash Loan (ACL) concept, when applicable, are paid with good value. The payment method to be applied is reported via MT564 IPAR and Xact Web Portal IPAR. | For further details on entries qualified as ACL, please refer to the section “5.6 Financing: availability of funds” of the Customer Handbook. |
Repatriation
The Kazakhstan Tenge (KZT) is a freely convertible currency, subject to control by the National Bank of Kazakhstan (NBK).
Settlement finality
The Law of the Republic of Kazakhstan on Securities Market does not include a concept of finality.
However, transaction settlement shall be deemed as a final settlement at the moment of:
- receipt of confirmation of cash crediting to the account of the Financial Instrument Sender by the Central Securities Depository (when registering transaction subject to cash calculations, and if banking account of the Financial Instrument Sender is opened in payment system);
- cash crediting to the account of the Financial Instrument Sender by the Central Securities Depository (when registering transaction subject to cash calculations, and if banking account of the Financial Instrument Sender is opened in the Central Securities Depository);
- financial instruments crediting to the Receiver's account by the Central Securities Depository (when registering transaction not subject to cash calculations, and if the Receiver's financial instrument account is opened in the Central Securities Depository);
- receipt of confirmation of financial instruments crediting to the Receiver's account by the Central Securities Depository from the Integrated Securities Registrar or international depository (when of financial instruments debiting from the account of the Central Securities Depository) when registering transaction on the account of the Central Securities Depository in the Integrated Securities Registrar, foreign or international depositories);
- crediting of assets by the Central Securities Depository to accounts of clearing participants based on the Exchange's order for registering net-operation. Transfer of financial instruments frozen for settlement on the Sender's account, subject to cash transfer, shall be processed by the Central Securities Depository only if the Interbank System of Money Transfer, foreign depository or payment system of the Central Securities Depository have confirmed cash transfer to the Sender. Otherwise, financial instruments shall be released on the Sender's account. The Central Securities Depository shall ensure calculations during settlement date and with almost real-time speed.
Proxy Voting procedures
Proxy voting services are not available in CBL for this market.
Entitlement compensation rules
Entitlement compensation does not apply to the market.