The Kazakhstan Stock Exchange (KASE) required local brokers to separate the accounts of Russian and Belarusian citizens from the accounts of other clients. This was announced by the Kazakh broker Halyk Finance.
The company spoke about the KASE letter, which notes “the need for segregation (mandatory separation) of the accounts of citizens of the Russian Federation and the Republic of Belarus” at the level of the Central Securities Depository.
They clarified that these are securities denominated in currencies other than the national one, as well as instruments that pass through the Clearstream and Euroclear international settlement deposits.
Starting April 27, Halyk Finance will restrict the access of citizens of the Russian Federation and Belarus to the KASE Global sector and other instruments in KASE, which will be segregated.
The company uses this measure to avoid fines from the stock market, since after the start of the segregation process (approximately May 1), there may be delays in the settlement of operations.
As Forbes wrote earlier, against the background of sanctions, the strategy of buying Russian Eurobonds from foreigners at a huge discount (up to 50%) has become popular among VIP clients of Russian brokers and management companies. Such securities include, in particular, the Eurobonds of Norilsk Nickel, PhosAgro, Gazprom, Polyus and Sibur.
Author:
Natalia Gormaleva
Source: RB
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