The Head of State signed the Law of the Republic of Kazakhstan "On Amendments and additions to certain Legislative Acts of the Republic of Kazakhstan on exchange trading and entrepreneurship".
As part of the development of the exchange trading sector, amendments are being made to:
- forming a List of socially significant exchange-traded goods;
- expansion of state control over commodity exchanges;
- exclusion of commodity exchanges from the category of small and microbusiness entities;
- exceptions to the standard auction and non-standardized goods;
- establishment of uniform maximum contribution amounts for entering the commodity exchange;
- updating the financial stability of commodity exchanges;
- prohibition on the use of bot technology;
- formation of a register of unscrupulous participants in exchange trading;
- licensing brokers and clearing centers, as well as their inclusion in the category of financial monitoring entities.
By law:
- the conceptual definitions of "guarantee" have been replaced by "reserve" (formed by the exchange), "insurance" by "guarantee" (formed by the clearing center);
- the form of entrepreneurship of a broker (formerly an individual entrepreneur) and a clearing center (formerly an individual entrepreneur or LLP) is defined only as a legal entity;
- MIT's competence to analyze and monitor the activities of commodity exchanges has been expanded;
- there is a judicial procedure for revoking the license of the gas station;
- the exact size of the commodity exchange's Management Code has been established – at least two billion tenge. At the same time, at least 1 billion tenge is deposited in cash.;
- the reserve fund of the commodity exchange, which organizes trades in socially significant exchange-traded goods, is determined to be at least 100 thousand MCI. For other commodity exchanges - 20 thousand MCI.;
- a ban has been imposed on membership in the exchange of persons who directly or indirectly own more than 10% of the voting shares of such a commodity exchange.;
- a ban on the organization of commodity trading has been introduced,
not included in the lists of exchange-traded goods and socially significant exchange-traded goods;
- the retention period for information on transactions concluded on the commodity exchange, as well as the results of exchange trading on its own Internet resource (for the entire period of the license) has been established. Information about transactions concluded on the commodity exchange is publicly available.;
- the procedure for the activities of clearing centers is regulated (clearing centers have the right to provide clearing services to one or more commodity exchanges, the clearing center must have automated access control for participants in exchange trading). The money of the participants of the exchange trades is subject to storage in a separate bank account of the clearing center of the commodity exchange. A ban has been imposed on the clearing services of the commodity exchange by several clearing centers.;
- a ban on the trading of liquefied petroleum gas through commodity exchanges has been introduced until 2030.
Also, one of the innovations of the Law is the monitoring of trading in exchange-traded goods that are subject to mandatory sale through commodity exchanges by government agencies responsible for the relevant branches (spheres) of public administration.
Bodies such as the Ministry of Agriculture, the Ministry of Agriculture, the Ministry of Energy and other departments, depending on the field, take on the task of tracking exactly how and to what extent exchange-traded goods are sold through commodity exchanges, which should ensure greater transparency and control.
Currently, the relevant by-laws are being developed to implement the Law.
It should also be noted that market participants occupying a dominant or monopolistic position in the relevant commodity market are allowed to participate in exchange trading only as dealers.
In order to comply with the legislation of the Republic of Kazakhstan, we ask major participants in the wholesale commodity exchange market of the Republic of Kazakhstan to take these legislative amendments into account when forming corporate business plans for 2025.
The Law comes into force sixty days after the date of its official publication.
Recall that in the Address of the Head of State to the People of Kazakhstan dated September 1, 2023, "The Economic Course of Fair Kazakhstan", the Head of State instructed to tighten regulatory requirements for commodity exchanges and completely eliminate these shortcomings.

Source : https://www.gov.kz/memleket/entities/mti/press/news/details/915777