In connection with the widespread media coverage of the use of a clearing mechanism in exchange trading, the Ministry of Trade and Integration reports the following. Clearing activities are provided for by the legislation of the Republic of Kazakhstan on commodity exchanges and have been a mandatory element of the exchange settlement system throughout the entire period of operation of commodity exchanges.

In accordance with Article 17 of the Law "On Commodity Exchanges," the commodity exchange clearing center carries out clearing activities for exchange transactions, including collecting and processing information on concluded transactions, recording and confirming their terms, determining the obligations of the parties, and organizing settlements.

The use of a clearing mechanism ensures the guaranteed fulfillment of obligations under an exchange transaction by both the buyer (in terms of timely and full payment for the goods) and the seller (in terms of proper and confirmed delivery of the goods), which is a prerequisite for the transparent and stable functioning of an organized commodity market.

At the same time, the provisions of the Law of December 30, 2024, on Exchange Trading, entered into force on January 1, 2026. These provisions establish a comprehensive regulatory regime for clearing activities, including mandatory licensing, state oversight by the Antimonopoly Authority, and requirements for classifying clearing organizations as subjects of financial monitoring and oversight by the Financial Monitoring Agency.

In this regard, Clause 75-1 of the Exchange Trading Rules, which entered into force on January 1, 2026, was adopted to align the Exchange Trading Rules with the provisions of the Law of December 30, 2024, on Exchange Trading. This amendment aims to clarify the settlement procedure for exchange transactions, taking into account the introduction of updated regulatory requirements for clearing activities, increasing the transparency of the organized commodity market, monitoring cash flows, and ensuring the guaranteed fulfillment of exchange obligations.

However, the use of a clearing mechanism for settlements on exchange transactions is not a new or additional requirement introduced on January 1, 2026.

According to Article 17 of the Law "On Commodity Exchanges," the funds of exchange trading participants are separately accounted for by the clearing center, stored in separate bank accounts, and used exclusively for settlements on specific exchange transactions, ensuring the transparency of cash flow and their intended purpose.

Source : https://www.gov.kz/memleket/entities/mti/press/news/details/1151694?lang=kk