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RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of March 28, 2013 No. 10/17

About approval "Rules of the securities trading in the secondary market through 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 "Rules of the securities trading in the secondary market through the Automated trade system of National Bank of the Kyrgyz Republic" it (is applied).

2. Declare invalid "Temporary procedure for carrying out transactions with the state treasurer bills of exchange in the secondary market through electronic trading system of National Bank of the Kyrgyz Republic", No. 3/3 approved by the resolution of Board of National Bank of the Kyrgyz Republic of March 10, 1998 from the date of enforcement of regulations "Rules of trade in government securities in the secondary market through the Automated trade system of National Bank of the Kyrgyz Republic" according to Item 6 of this resolution.

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

4. 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.

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

It is published in the "Regulations of National Bank of the Kyrgyz Republic" magazine, No. 4/2013

6. Determine that regulations "Rules of the securities trading in the secondary market through 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.

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

8. 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

Approved by the Resolution of Board of National Bank of the Kyrgyz Republic of March 28, 2013 No. 10/17

Rules of the securities trading of the Kyrgyz Republic in the secondary market through the Automated trade system of National Bank of the Kyrgyz Republic

1. General provisions

1. These rules of the securities trading of the Kyrgyz Republic in the secondary market through the Automated trade system of National Bank of the Kyrgyz Republic (further - Rules) determine procedure for carrying out security transactions in the secondary market of the Kyrgyz Republic through the Automated trade system of National Bank of the Kyrgyz Republic (further - automatic telephone exchange).

2. These rules are developed by National Bank of the Kyrgyz Republic (further - National Bank) for the purpose of assistance to development of the active, effective, reliable, transparent and liquid secondary security market of the Kyrgyz Republic by means of functioning of automatic telephone exchange.

3. The conditions and rules established by Regulations on work of the Automated trade system of National Bank of the Kyrgyz Republic (further - Regulations on work of automatic telephone exchange), extend to these rules.

4. These rules regulate procedure and the principles of behavior of Bidders in case of the conclusion of security transactions in the secondary market through automatic telephone exchange proceeding from the principles of fair competition and ensuring equality of Bidders.

5. Bidders in automatic telephone exchange are the commercial banks of the Kyrgyz Republic meeting requirements of item 15 of these rules. On board decision of National Bank other financial institutions can be admitted to trading of securities in the secondary market through automatic telephone exchange.

6. The bidder can carry out the following types of security transactions through automatic telephone exchange on its own behalf at own expense and on its own behalf at the request of clients:

- purchase - security sale on conditions outright;

- purchase - security sale on the terms of repo.

7. The bargain concluded through automatic telephone exchange on coordination of Bidders does not require obligatory signing of the written agreement according to this transaction, and obligation fulfillment according to the transaction is made according to regulations of these rules. Bidders can sign the separate bilateral agreements regulating detailed conditions of carrying out payment under the transaction.

8. In case of the conclusion of transactions through automatic telephone exchange the Bidder shall be guided by regulations of these rules.

2. Determinations and terms

For the purposes of these rules, except provided below, the determinations and terms established in Regulations on work of automatic telephone exchange are applied:

9. Transaction date - trading day in which there is conclusion of the transaction in automatic telephone exchange.

10. Completion date of calculations - trading day in which there is the actual purchase / security sale by means of the corresponding write-off / transfer of money and transition of the property right of securities.

11. The transaction of purchase - security sale on conditions outright (the transaction of purchase sale) - agreement signature between the seller and the buyer of securities in case of which one party agrees to sell, and another - to purchase securities at the stipulated price and on resolutive conditions.

12. The transaction of purchase - security sale on the terms of repo (the transaction of repo) - agreement signature on purchase security sale with the obligation of their return sale-purchase in certain date in the future (date of completion of the transaction of repo) and at in advance stipulated price.

13. The term of the transaction of repo - the period calculated in calendar days since the day following behind day of execution of the transaction of repo including day of completion of the transaction of repo.

3. Access to the biddings

14. Relations of Bidders on depositary accounting of securities are regulated by the corresponding bilateral agreement.

15. For receipt of access to the biddings of securities to automatic telephone exchange, commercial bank shall send the intent letter of receipt of access to the biddings of securities to automatic telephone exchange to National Bank and meet the following requirements:

- have the license of National Bank for the right of carrying out banking activities in national and/or foreign currency and not have restrictions for release, purchase, sale, servicing of securities, and also service of depositary;

- have correspondent account in national currency in National Bank;

- have the account of "depot" in Depositary;

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