of January 17, 2018 No. 33
About additional measures for streamlining of stock and exhibition and fair exchange trading
According to the resolution of the President of the Republic of Uzbekistan of September 29, 2017 No. PP-3295 "About measures for further streamlining of stock and exhibition and fair exchange trading", for the purpose of forming of transparent, market mechanisms of implementation of settlement and ensuring performance guarantees according to stock and exhibition and fair exchange transactions the Cabinet of Ministers decides:
1. Approve Rules of carrying out settlement and clearing transactions at the commodity and raw exchanges according to appendix No. 1.
2. Determine that:
at the exchange biddings the goods of certain sort and quality, including derivative financial instruments (derivatives) which are not requiring preliminary examination, characterized by invariance of qualitative indexes and permanency of the conclusion of stock exchange transactions, included in exchange quoted leaf and admitted in accordance with the established procedure to exchange trading are implemented;
at the exhibition and fair biddings organized and which are carried out by the commodity and raw exchanges any goods which are not meeting requirements imposed to exchange goods, and buyers of possibility of survey of their samples and models, electronic catalogs, prospectuses, advertizing bulletins or other documentation characterizing the exposed goods requiring provision are implemented.
3. To provide to the state committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition together with the commodity and raw exchanges reduction of rules of stock exchange trading in compliance with requirements of this resolution.
4. Make changes to some decisions of the Government of the Republic of Uzbekistan according to appendix No. 2.
5. To impose control of execution of this resolution on the deputy prime minister of the Republic of Uzbekistan - the Minister of Finance of the Republic of Uzbekistan D. A. Kuchkarov and the chairman of the State committee of the Republic of Uzbekistan on assistance to the privatized companies and development of the competition of R. A. Gulyamov.
Prime Minister of the Republic of Uzbekistan
Appendix № 1
to the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan of January 17, 2018 No. 33
1. According to the Law of the Republic of Uzbekistan "About the exchanges and exchange activities" and the resolution of the President of the Republic of Uzbekistan of September 29, 2017 No. PP-3295 "About measures for further streamlining of stock and exhibition and fair exchange trading" these rules determine procedure for carrying out settlement and clearing transactions at the exchange biddings of the commodity and raw exchanges.
2. In these rules the following basic concepts are used:
the exchange biddings - the biddings by exchange goods organized by the exchange according to rules of stock exchange trading;
clearing - complex of the transactions directed to determination, refining and offsetting of cross liabilities of members of the exchange and their clients, and also the settlement between them which are carried out according to these rules and rules of stock exchange trading;
the clearing house (CH) - the structural division of the exchange providing carrying out clearing, calculations and settlement on stock exchange transactions (further - the transaction) through electronic system of clearing;
the participant of clearing - the member of the exchange and/or his client who directed the acceptance and registered in the procedure established by these rules in clearing house;
electronic system of clearing - set of the program technical means, databases, telecommunication means, other equipment and the software of RCP intended for implementation of clearing according to these rules;
clearing (accounting) registers - the electronic registers of internal accounting of RCP used for accounting of information on the balances in cash intended for the conclusion of transactions and obligation fulfillment according to transactions and also for accounting of obligations and requirements of participants of clearing for transactions;
blocking of money - the suspension of cash flow providing complete obligation fulfillment of sellers and buyers according to the transaction until closing of the transaction;
the secondary account of RCP - the secondary on-demand deposit accounts of the exchange opened in the bank servicing the exchange for storage of means of buyers and sellers and carrying out payment under transactions;
individual number of the user (further - INP) - the unique code assigned for the participant of clearing;
the register of participants of clearing (RPC) - the list of the participants of clearing registered in RCP according to these rules;
the register of the concluded bargains (RCB) - the list of the signed and registered transactions;
the register of the paid transactions (RPT) - the list of transactions according to which on personal account of the buyer in RCP the money providing complete covering of obligations according to the concluded bargain and forming the basis to the seller for shipment of exchange goods arrived;
the register of deliverable documents (RDD) - the list of transactions according to which shipment of exchange goods with indication of date and quantity of the shipped exchange goods is performed;
deposit - funds of warranty providing deposited by participants of clearing in RCP for providing guarantees of execution of the transactions made by them;
the partner - the party which assumed obligation according to the transaction and contrasted other party of the transaction - the buyer for the seller and the seller for the buyer.
3. RCP is structural division of the exchange, has no status of the legal entity and acts on behalf of the exchange without the right to make any independent transactions and actions which are not provided by these rules.
4. RCP performs the following main functions:
registers participants of clearing;
provides opening and account management of participants of clearing;
performs timely and in full ensuring carrying out settlement according to transactions;
determines, specifies, sets off cross liabilities, and also performs conducting separate accounting of obligations of participants of clearing according to the concluded bargains;
performs forming and provision to participants of clearing of necessary information following the results of clearing;
provides storage of information on transactions according to which clearing, about results of clearing according to requirements of the legislation is performed;
exercises control of obligation fulfillment according to the concluded bargains;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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