Securities market Printable versionLast update: 16.07.2020
Securities - A security is a collection of certain records and other designations that certify property rights.
Securities can be:
Debt securities are securities certifying the obligation of the issuer (debtor) to pay the principal amount of the debt on the terms of issue of these securities.
Equity security is a security certifying the right of its owner to a certain share in the property in cases stipulated by the legislation of the Republic of Kazakhstan.
The securities market is the sphere of economic relations related to the issue and circulation of securities.
The securities market legislation of the Republic of Kazakhstan is based on the Constitution of the Republic of Kazakhstan and consists of the Civil Code of the Republic of Kazakhstan, the Law on Securities Market and other regulatory legal acts of the Republic of Kazakhstan.
State regulation of the securities market, control and supervision over the issue, circulation and redemption of securities, as well as professional and exchange activities in securities is carried out by the authorized body for regulation and supervision of the financial market and financial organizations.
The main objective of the state regulation and supervision of the stock market is to create an effective and independent system of supervision in order to increase the level of protection of the interests of consumers of financial services and the development of a stable infrastructure of the stock market.
The securities market consists of organized and unorganized markets.
Organized securities market - the sphere of circulation of equity securities and other financial instruments, transactions with which are carried out in accordance with the internal documents of the stock exchange. The organized securities market of the Republic of Kazakhstan is represented by the Kazakhstan Stock Exchange (KASE), in the trading platform of which transactions are carried out by organizations engaged in brokerage and (or) dealer activity (professional participants of the securities market) at the expense and on behalf of clients, individuals and legal entities, or on their own behalf and at their own expense.
Unorganized securities market - the sphere of circulation of securities and other financial instruments, in which transactions with securities and other financial instruments, including foreign currencies and derivative financial instruments, are carried out without compliance with the requirements established by internal documents of the stock exchange.
Transactions with equity securities concluded in the organized and unorganized markets shall be registered in the Central Securities Depository's accounting system in accordance with the procedure set forth by the regulatory legal act of the authorized body.