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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 28, 2013 No. 10/18

About approval of the Provision "About Work of the Automated Trade System of National Bank of the Kyrgyz Republic"

(as amended on 25-10-2017)

According to article 43 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Provision "About Work of the Automated Trade System of National Bank of the Kyrgyz Republic" it (is applied).

2. Publish this resolution on the official site of National Bank of the Kyrgyz Republic.

3. After official publication to send to Legal management this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

4. This resolution becomes effective after 15 days from the date of official publication.

5. Determine that regulations of the Provision "About Work of the Automated Trade System of National Bank of the Kyrgyz Republic", are applied from the moment of input of the Automated trade system in commercial operation.

6. To management of monetary transactions to bring this resolution to the attention of commercial banks.

7. To impose control of execution of this resolution on the vice-chairman of National Bank of the Kyrgyz Republic Abdybala tegin Page.

Chairman of the board of National Bank of the Kyrgyz Republic

Z.Asankozhoyeva

 

 

Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic

1. General provisions

1. This Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic (further - the Provision) are developed for the purpose of streamlining of process of carrying out transactions in the financial market of the Kyrgyz Republic through the Automated trade system of National Bank of the Kyrgyz Republic (further - automatic telephone exchange).

2. The National Bank of the Kyrgyz Republic (further - National Bank) is the owner of automatic telephone exchange. The software received by the Participant in case of connection to automatic telephone exchange is property of National Bank and is not subject to transfer to the third parties.

3. This Provision includes the main requirements for functioning of automatic telephone exchange in part:

- determinations and terms;

- access to automatic telephone exchange;

- regulations of work;

- procedure for carrying out calculations;

- rights, obligations and responsibility;

- technical failures.

4. The requirements specified in this Provision extend to the regulations and rules of National Bank regulating detailed procedure for carrying out transactions in automatic telephone exchange.

5. The detailed procedure for the conclusion of transactions in automatic telephone exchange is regulated by relevant provisions and rules of National Bank.

6. Members of automatic telephone exchange are determined by relevant provisions and rules of National Bank.

7. The determinations and terms specified in this Provision extend to all used determinations and terms in the relevant provisions and rules of National Bank regulating procedure for carrying out transactions in automatic telephone exchange. In relevant provisions and rules of National Bank the additional determinations and terms which are not specified in this Provision can be used.

2. Determinations and terms

8. The automated trade system of National Bank of the Kyrgyz Republic (automatic telephone exchange) - the hardware and software system of National Bank intended for automation of carrying out transactions in the financial markets of the Kyrgyz Republic.

9. Transaction authorization - the procedure performed by the dealer's controller in automatic telephone exchange for confirmation and further execution of the transaction initiated by the dealer.

10. The administrator of automatic telephone exchange - the employee of structural division of National Bank keeping reference books of automatic telephone exchange, determining the rights of the Participant to use of information resources of automatic telephone exchange and regulating operating procedure in automatic telephone exchange and process of the conclusion of transactions.

11. The administrator of safety of automatic telephone exchange - the employee of structural division of National Bank providing management of powers of users of automatic telephone exchange, issue of personal identifiers, certificates and keys of the digital signature in automatic telephone exchange.

12. Cancellation - action according to which during manual analysis the structural division of National Bank which is responsible for carrying out calculations for transaction through automatic telephone exchange cancels transactions on which there did not take place calculations for money in national currency and performs the corresponding actions for write-off of penalties.

13. Securities - the securities issued by National Bank and the Ministry of Finance of the Kyrgyz Republic.

14. The Grossovy settlement system in real time National Bank (GSRRV) - the interbank payment system intended for carrying out large and due payments, ensuring bystry and final settlements according to transactions in the interbank financial markets. Operator GSRRV is NBKR.

15. Depositary - the legal entity of the Kyrgyz Republic performing depositary accounting and storage of securities, registration of transition and confirmation of the property right to securities.

16. The dealer - person authorized by the Participant on submission of requests and initiation of transactions in automatic telephone exchange.

17. The request - the unified form in automatic telephone exchange confirming intention of the Participant to conclude transaction.

18. Identification - the procedure performed by users in case of entrance to automatic telephone exchange for determination of the rights of this user to accomplishment of these or those transactions in automatic telephone exchange.

19. The dealer's controller - person authorized by the Participant on implementation of authorization on the transactions initiated by the dealer.

20. Delivery without payment (DvF) - procedure for execution of transaction with securities in case of which the translation of securities on accounts of Participants does not imply the cash calculations controlled by automatic telephone exchange and is made only after check and confirmation of availability on the corresponding accounts of Participants of enough the securities intended for transaction execution.

21. Delivery against payment (DvP) - procedure for execution of transaction with securities in case of which the translation of securities and money transfer on accounts of Participants is made only after check and confirmation of availability on the corresponding accounts of Participants of enough the securities and money intended for transaction execution.

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