Unofficial translation
Footnote. Abolished by the Minister of Energy of the Republic of Kazakhstan No. 202 dated June 7, 2022 (effective ten calendar days after the date of its first official publication).In accordance with sub-item 18-1) of article 6 of the Law of the Republic of Kazakhstan dated January 9, 2012 "On Gas and Gas Supply", I HEREBY ORDER:
1. To approve the attached Rules for organization and conduct of trading in liquefied petroleum gas through electronic trading platforms.
2. Department of Gas Industry Development of the Ministry of Energy of the Republic of Kazakhstan in accordance with the procedure, established by the legislation of the Republic of Kazakhstan shall ensure:
1) state registration of this order with the Ministry of Justice of the Republic of Kazakhstan;
2) within ten calendar days from the date of state registration of this order with the Ministry of Justice of the Republic of Kazakhstan, the direction hereof in Kazakh and Russian languages to the Republican State Enterprise on the Right of Economic Management "Republican Center of Legal Information of the Ministry of Justice of the Republic of Kazakhstan" for official publication and placement in the Reference Control Bank of the Regulatory Legal Acts of the Republic of Kazakhstan;
3) placing this order on the Internet resource of the Ministry of Energy of the Republic of Kazakhstan;
4) within ten working days after the state registration of this order, reporting to the Department of Legal Services of the Ministry of Energy of the Republic of Kazakhstan on performance of activities, stipulated by sub-items 2) 3)and 4) of this item.
3. Control over the execution of this order shall be entrusted to the supervising Vice-Minister of Energy of the Republic of Kazakhstan.
4. This order shall be put into effect upon expiry of ten calendar days after the day of its first official publication, but not earlier than January 1, 2019.
|
Minister of Energy of the Republic of Kazakhstan |
К. Bozumbayev |
"AGREED"
Ministry of Information and
Communications of the Republic of Kazakhstan
"AGREED"
Ministry of National Economy
of the Republic of Kazakhstan
| Approved by order № 481 of the Minister of Energy of the Republic of Kazakhstan dated December 6, 2018 |
Rulesfor organization and conduct of trading in liquefied
petroleum gas through electronic trading platforms
Chapter 1. General Provisions
1. These Rules for organization and conduct of trading in liquefied petroleum gas through electronic trading platforms (hereinafter referred to as the Rules) have been developed in accordance with sub-item 18-1) of article 6 of the Law of the Republic of Kazakhstan dated January 9, 2012 "On Gas and Gas Supply" (hereinafter referred to as the Law) and shall determine the procedure of organization and conduct of trading in liquefied petroleum gas through electronic trading platforms.
2. These Rules shall use the following notions:
1) a participant’s bid – a bid(offer) of the participant of electronic trading for sale (purchase) of liquefied petroleum gas, containing all conditions, required for conclusion of an electronic trade transaction in accordance with these Rules;
2) a lot – the volume of liquefied petroleum gas, being a fixed unit offered for electronic trading;
3) a trading authority – a legal entity – the resident of the Republic of Kazakhstan, being the owner of electronic trading platform, rendering, in accordance with these Rules, services on liquefied petroleum gas trading on the electronic trading platform and meeting the requirements, set forth by these Rules;
4) the Steering Committee of the trading authority – an advisory board of the trading authority representing interests of electronic bidders on issues, related with their arrangement and implementation;
5) a technical failure – a short-time loss of operational performance by the electronic trading platform, which makes continuation of rendering services, associated with organization of electronic trading impossible;
6) a trading instrument – an asset that corresponds to a certain specification, set forth by the trading authority, which may act as a subject of trading operation;
7) a trading day – a work day of the trading authority, during which the electronic trading is held;
8) a trading session – the period of time of a trading day during which the participants submit bids for purchase (sale) of liquefied petroleum gas on the electronic trading platform, and on which the trading transactions are being made;
9) an information system of the authorized body– the integrative information system "Unified State System of Subsoil Use of the Republic of Kazakhstan", intended for collection, storage, analysis and processing of information in subsoil use;
10) a participant of electronic trading – an entity, which is admitted to participation on the electronic trading platform in accordance with these Rules;
11) an electronic trading platform – a complex of computational means, software, databases, telecommunication means and other equipment, intended for trading in liquefied petroleum gas within the plan of supply of liquefied petroleum gas to the domestic market of the Republic of Kazakhstan and ensuring automatization of the process of making transactions, as well as collection, storage, processing and disclosure of information;
12) an electronic-digital signature – a set of electronic digital symbols, created by means of electronic-digital signature and certifying the authenticity of the electronic document, its appurtenance and inalterability of the content.
Other notions, used in these Rules shall apply in accordance with the Law.
Chapter 2. Requirements to the Trading Authorities
3. To conduct electronic trading in liquefied petroleum gas, the trading authority shall ensure availability of:
1) an electronic trading platform that meets the requirements set out in the appendix to these Rules;
2) the steering committee of the trading authority;
3) a structural unit supplied with the necessary means to ensure the confidentiality regime, and also the safety of information constituting a commercial secret on an electronic trading platform, including on electronic media;
4) higher education of the trading authority’s managerial staff related to organization of electronic trading in liquefied petroleum gas;
work experience in the field of electronic commerce, commodity exchanges and (or) in financial institutions for at least three years;
5) higher or post-secondary education of the trading authority’s staff in managerial positions, excepting senior management, related to organization of electronic trading in liquefied petroleum gas;
6) structural units for electronic commerce organization and for work with clients;
7) an agreement with a second-tier bank on the use of the clearing system mechanism for settlement on concluded transactions or an agreement with a clearing organization serving the electronic trading platform that meets the requirements of the legislation of the Republic of Kazakhstan on commodity exchanges;
8) own Internet resource in the Kazakh and Russian languages, containing information on the electronic trading platform and the procedure for conducting trading on it, a special section for posting the electronic trading outcomes.
Footnote. Paragraph 3 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).4. The charter capital of the trading authority shall be at least one hundred one thousand-fold monthly calculation index, established for the corresponding financial year by the Law of the Republic of Kazakhstan on the Republican budget.
5. Trading authority shall perform training and retraining of potential participants of trading, and shall explain their rights and obligations.
6. Trading authority shall perform trading in other types of commodities in accordance with the legislation of the Republic of Kazakhstan.
7. Arrangement and conducting of trading in liquefied petroleum gas shall be made by the trading authority subject to the requirements of these Rules.
Chapter 3. Requirements to participants of trading
8. The participants of electronic trading shall be customers and sellers of liquefied petroleum gas.
9. Electronic trading participants as buyers of liquefied petroleum gas shall be the following categories of subjects of liquefied petroleum gas supply systems, including those acting as dealers, or their representatives (agents, brokers):
1) liquefied petroleum gas producers;
2) owners of liquefied petroleum gas produced in the course of processing of hydrocarbon raw materials belonging to them on the ownership right or on other legal grounds.
Footnote. Paragraph 9 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).10. Electronic trading participants as buyers of liquefied petroleum gas shall be the following categories of subjects of liquefied petroleum gas supply systems, including those acting as dealers, or their representatives (agents, brokers):
1) gas network organizations;
2) industrial consumers, owners of gas filling points and (or) auto gas filling stations who, on the ownership right or other legal grounds, have storage tanks for liquefied petroleum gas with a total volume of at least 60 cubic meters with the possibility of filling them from railway tanks, or who have concluded an agreement with the owner of a gas filling station in the respective supply area on the storage and transshipment of liquefied petroleum gas in the amount of at least 60 cubic meters per month.
For industrial consumers, owners of gas filling points and (or) gas filling stations, in the event of their participation in electronic trading on trading instruments providing for the supply of liquefied petroleum gas by road, the requirements of subparagraph 2) of this paragraph shall not apply.
Footnote. Paragraph 10 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).11. Entities, affiliated with the trading authority shall not be participants of trading.
12. For participation in electronic trading, sellers and (or) customers or their representatives shall enter into a service agreement on conducting electronic trading with the trading authority.
13. Trading authority shall maintain records of participants of electronic trading and shall assign to each participant a unique code, which is simultaneously a login for entering the electronic trading system.
Chapter 4. The Steering Committee of the trading authority
14. The steering committee of the trading authority shall comprise members of the National Chamber of Entrepreneurs of the Republic of Kazakhstan, associations of private entrepreneurship entities accredited with the authorized body, electronic trading participants, and also other interested parties. The number of members - representatives of sellers and members - representatives of buyers shall be equal at that.
Footnote. Paragraph 14 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).15. The trading authority’s steering committee shall approve:
1) the schedule and periodicity of trading days and main trading sessions;
2) trading instruments;
3) lot sizes;
4) the size of collateral for participation in electronic trading;
5) information on transport costs for the delivery of liquefied petroleum gas to the administrative centers of the regions, cities of republican scale and the capital, and also on other additional costs on each trading instrument.
The information specified in subparagraphs 1) - 5) of this paragraph shall be posted on the trading authority’s official Internet resources within three working days from the date of its approval by the steering committee of the trading authority.
Footnote. Paragraph 15 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).Chapter 5. Procedure for arrangement and conducting the electronic trading
Paragraph 1. Arrangement and conducting the electronic trading
16. The owner of the electronic trading platform, having an intention to arrange on electronic trading in liquefied petroleum gas, shall submit to the authorized body a bid in a free form attaching the copies of documents, certifying the conformity of the applicant with the requirements, established in Chapter 2 of these Rules.
17. The bid shall be considered within one month from the day of its receipt in the authorized body by the commission on determination of liquefied petroleum gas trading authorities (hereinafter referred to as the Commission). The Commission shall be formed from representatives of the authorized body in informatization, the National Chamber of Entrepreneurs of the Republic of Kazakhstan, as well as other concerned persons.
18. Within the term indicated in paragraph 17 of these Rules, the applicant shall conduct remote test electronic trading for the Commission in a simulation mode with participation in one electronic trading on a conditional trading instrument of at least three conditional sellers and at least five conditional buyers, enabling confirmation of the existing functionality of the electronic trading platform.
Footnote. Paragraph 18 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).19. Upon the examined application and conducted remote test electronic trading results, the Commission shall make a decision on compliance or non-compliance of the applicant with the requirements established in Chapter 2 of these Rules.
In this event, prior to the electronic trading start, the electronic trading platform owner, determined by the Commission as complying with the requirements established in Chapter 2 of these Rules, and the authorized body shall ensure integration of the electronic trading platform with the information system of the authorized body.
The names and contact details of the electronic trading platforms’ owners, determined by the Commission as complying with the requirements established in Chapter 2 of these Rules shall be posted on the authorized body’s official Internet resource.
Footnote. Paragraph 19 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).20. The trading authority shall admit to participation in the electronic trading only persons, specified in items 9 and 10 of these Rules.
21. The trading authority shall provide all participants of the electronic trading with access subject to requirements, set forth by these Rules.
22. The trading authority shall calculate prices, indices and other indicators on liquefied petroleum gas, based on information about transactions, concluded in the electronic trading.
23. The trading authority shall organize a system of risk management, associated with arrangement of electronic trading, as well as with performance of operations with own property.
24. The trading authority, using the information system of the authorized body, monthly, no later than five calendar days prior the beginning of the month preceding the planned one, shall receive the Supply Plan of liquefied petroleum gas to the domestic market of the Republic of Kazakhstan (hereinafter referred to as the Supply Plan), indicating the list of sellers of liquefied petroleum gas in terms of the volumes of gas for its sale through electronic trading platforms.
25. The liquefied petroleum gas volumes reflected in the delivery plan shall be put up by sellers for sale via electronic trading platforms within five working days, starting from the fifteenth day of the month preceding the planned one, with the actual shipment of the liquefied petroleum gas during the planned month.
In the event of untimely distribution by the manufacturer of the obligatory volume of liquefied petroleum gas between the owners of liquefied petroleum gas produced in the course of processing of hydrocarbon raw materials belonging to them on the ownership right or on other legal grounds, the date of the electronic trading start indicated in part one of this paragraph shall be postponed to a later date, but not more than five working days later.
Footnote. Paragraph 25 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).26. Excluded by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).
27. Liquefied petroleum gas shall be sold through electronic trading platforms under appropriate trading instruments, which shall provide for:
1) the type of liquefied petroleum gas and its qualitative features;
2) place, deadline, method of shipment and other conditions of the supply of liquefied petroleum gas;
3) terms of payment for liquefied petroleum gas;
4) region (regions) within the territory of which the liquefied petroleum gas shall be subjected to subsequent realization by the customers;
5) when necessary - other conditions, specified by the trading authority.
28. During the term specified in paragraph 25 of these Rules, the trading authority shall conduct five trading sessions on each trading instrument.
Footnote. Paragraph 28 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).29. Electronic trading participants shall be notified about changes in the schedule and periodicity of trading days and trading sessions, also additional trading sessions no later than 24 hours before the trading day start.
Footnote. Paragraph 29 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).30. In each trading session the liquefied petroleum gas sellers shall put up for sale twenty percent of the obligatory volume of liquefied petroleum gas under the delivery plan through electronic trading platforms.
At the same time, if the volume of liquefied petroleum gas obligatory for sale by the respective seller through electronic trading platforms is less than one hundred and eighty tons, this seller shall put up for sale more than twenty percent of the volume, starting from the first trading session.
If the volume of liquefied petroleum gas was put up for sale at the past trading sessions, but the volume of liquefied petroleum gas was not sold, this volume shall be additionally put up at the subsequent trading sessions.
Footnote. Paragraph 30 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).31. The minimum lot size of liquefied petroleum gas, monthly purchased on the electronic trading platform by the persons, specified in item 10 of these Rules, shall be one lot. The trading authority shall establish the lot size.
32. The sellers shall provide bids for sale in lots. In case if the size of monthly obligations of a seller on the sale of liquefied petroleum gas is not divisible by the established lot size, the seller shall provide for the sale the volume, divisible by the lot size, but not less than the volume of monthly obligations on the sale through the electronic trading platform.
33. The maximum amount of liquefied petroleum gas consignment acquired monthly on an electronic trading platform by a buyer shall be ten percent of the volume of liquefied petroleum gas to be sold through electronic trading platforms in accordance with the supply plan for the planned month.
The liquefied petroleum gas volume specified in part one of this paragraph shall be established by the trading authority for each buyer, taking into account the actually acquired liquefied petroleum gas volumes during the current calendar month on all electronic trading platforms.
The trading authority shall retrieve data on the obtained volumes through the authorized body’s information system.
Footnote. Paragraph 33 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).34. To participate in liquefied petroleum gas trading through electronic trading platforms, the participants of electronic trading shall make monetary guarantee provision to the trading authority or to the account of a clearing organization, servicing the electronic trading platform.
The size of the guarantee provision for participation in the electronic trading shall be established by the trading authority.
The procedure of contribution, withdrawal and return of the guarantee provision shall be determined by the trading authority or the clearing organization.
35. Electronic trading in liquefied petroleum gas shall be conducted in the form of a double counter (anonymous) auction in the following order:
1) during the trading session, electronic trading participants shall submit bids to the trading authority for the purchase (sale) of the commodity in compliance with the minimum and maximum price requirements for the commodity established by paragraph 36 of these Rules;
2) one trading session shall be conducted during a trading day, except for the case specified in paragraph 36-1 of the Rules;
3) trading session shall last two hours;
4) the facilities used by sellers for loading liquefied petroleum gas into railway tank cars and (or) autogas carriers from production facilities of liquefied petroleum gas producers or facilities technologically related to such production facilities shall be determined as delivery basis;
5) the purchase (sale) bid for the commodity shall contain the following basic information:
the name of the bidder;
type of the bid (purchase or sale);
the name of the purchased (sold) commodity;
the price of the commodity, indicated in KZT;
the amount of commodities requested for purchase (sale);
other information determined by the trading authority;
6) all the accepted bids shall be collected in the queue of unsatisfied purchase and sale bids:
purchase bids are ranged in descending order of the prices indicated in them, and if prices are equal, in the order of their receipt in the trading system;
sale bids shall be ranged in ascending order of the prices indicated in them, and if prices are equal, in the order of their receipt in the trading system;
7) the newly submitted sale bid shall be satisfied at the expense of existing purchase bids, in which the purchase prices are higher or equal to the price of the received bid, starting from the purchase bids containing the highest price. This process shall continue until this sale bid is fully satisfied or until the purchase bids that are acceptable at the price are exhausted;
8) the newly submitted purchase bid shall be satisfied at the expense of existing sale bids, in which the selling prices are lower or equal to the price of the received bid, starting with the sale bid containing the lowest price. This process shall continue until this purchase bid is fully satisfied or until the sale bids that are acceptable at the price are exhausted.
On the basis of the newly received bid, one or more transactions shall be executed, depending on the number of sought purchase (sale) counter bids. Transactions shall be made at the prices indicated in the sought counter bids;
9) fully satisfied purchase (sale) bids shall not participate in the trading in the future. Partially satisfied bids shall continue to participate in trading in the part of unsatisfied purchase (sale) volumes;
10) electronic trading participants shall have the right to submit an unlimited number of bids for the purchase (sale) of the commodity. In this case, any application submitted by a trading participant may be withdrawn before the transaction is concluded;
11) transactions registered by the trading system, with prices that do not meet the requirements of paragraph 36 of these Rules, shall be subject to immediate cancellation by the trading authority, of which the parties to the transaction shall be notified in writing;
12) at the end of all trading sessions, unsatisfied bids shall be annulled by the trading authority.
Footnote. Paragraph 35 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).36. The minimum price level for liquefied petroleum gas, formed during the trading session, must not be less than 90 percent of the base price, and the maximum price level must not be more than 110 percent of the base price.
At the same time, the following prices shall be recognized as the base price of liquefied petroleum gas during trading sessions:
in the first electronic trading, the base price shall be set at the level of the current marginal price of liquefied petroleum gas sold within the framework of the plan for the liquefied petroleum gas supply to the domestic market of the Republic of Kazakhstan outside the electronic trading platforms approved by the authorized body in accordance with subparagraph 7) of Article 6 of the Law;
in subsequent trading sessions, the base price shall be set at the level of the weighted average price of liquefied petroleum gas, prevailing over the previous trading session on the corresponding trading instrument, on which the transactions were concluded;
if during one trading session no transactions were made on the corresponding trading instrument, at each of the following trading sessions the base price shall decrease by at least ten percent per session, until the occurrence of one of the following conditions:
1) conclusion of transaction on the corresponding trading instrument;
2) reaching the level of the current limit price of liquefied petroleum gas, sold within the framework of the plan for the supply of liquefied petroleum gas to the domestic market of the Republic of Kazakhstan outside the electronic trading floors, approved by the authorized body in accordance with subparagraph 7) of Article 6 of the Law.
The base price of liquefied petroleum gas shall be set at facilities for loading liquefied petroleum gas into railway tank cars and (or) autogas carriers.
Footnote. Paragraph 36 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).36-1. Additional trading sessions shall be conducted by the trading authority at the seller’s request in the following events:
1) the seller avails of liquefied petroleum gas unloaded volumes, mandatory for sale in the domestic market of the Republic of Kazakhstan outside electronic trading platforms, due to non-acquisition of liquefied petroleum gas by a gas network organization or an industrial consumer using liquefied petroleum gas as a raw material for the production of petrochemical products;
2) the seller avails of liquefied petroleum gas unloaded volumes, mandatory for sale in the domestic market of the Republic of Kazakhstan through electronic trading platforms, due to the buyer's non-payment for the liquefied petroleum gas acquired through the electronic trading platform;
3) the seller has not sold the volume of liquefied petroleum gas, mandatory for sale in the domestic market of the Republic of Kazakhstan through electronic trading platforms within the period specified in paragraph 25 of these Rules.
From the date of occurrence of the cases specified in subparagraphs 1) - 3) of this paragraph, the seller shall apply within two working days to the trading authority for additional trading sessions.
An additional trading session on the corresponding trading instrument can be conducted by the trading authority on the same trading day with the trading session, but at different time intervals.
Footnote. The rules were supplemented with paragraph 36-1 in accordance with Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).36-2. In the events specified in subparagraphs 1) - 3) of paragraph 36-1 of these Rules:
1) in the first two additional trading sessions, the supply area (group of areas) shall be retained, and the base price for each additional trading session is set at the level of the weighted average price of liquefied petroleum gas, prevailing over the previous trading session on the corresponding trading instrument, on which transactions were made with delivery to the given area(a group of areas);
2) if, during the first two additional trading sessions, transactions on the corresponding trading instrument were not concluded, the trading authority shall conduct three additional trading sessions, at which the territory of the Republic of Kazakhstan shall be determined as the supply area, and the base price for each additional trading session shall be set at the level of the weighted average price of liquefied petroleum gas formed over the previous trading session on all trading instruments of the trading authority.
Footnote. The rules were supplemented with paragraph 36-2 in accordance with Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).36-3. During additional trading sessions, the liquefied petroleum gas sellers, starting from the first additional trading session, shall put up for electronic trading the entire volume of the liquefied petroleum gas required for the delivery plan execution.
Footnote. The rules were supplemented with paragraph 36-3 in accordance with Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).36-4. In the event that the seller, in full compliance with these Rules, was put up for sale in the trading sessions and additional trading sessions, but the volume of liquefied petroleum gas was not sold, the seller shall notify the authorized body about it and sell this volume to other persons outside the supply plan. In this event this liquefied petroleum gas volume shall be counted as the seller's execution of the delivery plan.
Footnote. The rules were supplemented with paragraph 36-4 in accordance with Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).37. The trading results shall be published on the own internet resource of the trading authority subject to the provision of anonymity of the auction winners, no later than the working day following the trading day.
38. Refusal of the transaction, concluded at the electronic trading shall only be allowed in cases, stipulated by the civil legislation of the Republic of Kazakhstan.
39. Each bid and transaction shall be assigned a unique code for maintaining records and storage of information. Information about transactions and bids shall be stored in the electronic trading platform on electronic media.
Paragraph 2. Fees and other charges
40. Participants of trading shall pay fees to the trading authority on transactions concluded by them. The amount of a fee shall be determined in percent from the amount of the transaction and shall be established by the trading authority in the same amount for each of the parties to the transaction.
The trading authority shall establish charges for participants of trading for their admission to trading.
Paragraph 3. Terms and procedure for suspension and resumption of electronic trading
41. In case of occurrence of technical failures in the electronic trading platform, which make impossible continuation of rendering services associated with arrangement of electronic trading, the trading authority shall register the fact and the time of the technical failure in the technical failure register, shall suspend rendering services and immediately shall take measures, aimed at:
1) detection and elimination of reasons, inflicted technical problems excluding the opportunity of participation in the procedure of electronic trading for at least one participant and/or excluding technical capacity to maintain electronic trading for the employees of the trading authority;
2) elimination of technical effect of failure;
3) securing the integrity of information stored in the electronic trading platform and restoration the information, being lost as a result of a technical failure.
42. In case if a failure in the electronic trading platform has been detected, the trading authority shall decide on temporary suspension of trading, whereof the participants of the electronic trading shall be notified using technical capabilities of the electronic trading platform or by any other available method. After restoration of performance of the electronic trading platform, the trading shall be resumed.
43. Should the resumption of performance of the electronic trading platform be impossible during a trading session, the trading authority shall make a decision on premature termination of trading. This decision shall be brought to the information of all participants of electronic trading using the electronic trading platform or by any other available method.
Paragraph 4. Settlement procedure for transaction concluded at electronic trading
and execution of transaction
44. Settlement of participants of electronic trading with the trading authority shall be made in accordance with an electronic trading service agreement.
45. It is possible to use one or several methods of settlement on transactions concluded on the electronic trading platform.
46. Execution of transactions concluded on the electronic trading platform shall be made with participation of the clearing organization, servicing the electronic trading platform, or without such participation.
47. The transaction at the electronic trading shall be concluded based on two registered oppositely directed bids; complete or partial conformity of which to each other is established and registered in the electronic trading platform. In addition, the oppositely directed bids shall be the bids, containing counter expression of will for conclusion of a transaction in relation to each other.
48. The transaction shall be considered as concluded at the electronic trading at the time of registration by the trading authority of conformity of oppositely directed bids to each other by making a record about conclusion of the relevant transaction in the electronic trading platform.
49. The electronic trading platform shall immediately form a passport of the transaction (transaction report) which is an electronic document, confirming the conclusion of transaction between the parties, signed by electronic digital signature by an authorized officer of the electronic trading platform. Upon a separate request from the participant of electronic trading, the trading authority shall provide a hard copy of the electronic document, certified by the trading authority.
50. The information about the concluded transaction shall be stored in the databases of the electronic trading platform and shall be available for the participants of trading, concluded this transaction.
51. Information about the transaction (except for anonymous price and qualitative features, used for statistics and analysis of the market) shall be a commercial secret and shall not be subject to disclosure or transfer to third parties without a special consent of the parties for it, except for cases of transferring to the authorized body of information, required for implementation of functions, vested onto it, and other cases, stipulated by the laws of the Republic of Kazakhstan.
| Annex to the Rules for organization and conduct of trading in liquefied petroleum gas through electronic trading platforms |
Requirements to electronic trading platforms
1. An electronic trading platform shall have in its composition an automated event report log for trading sessions (hereinafter referred to as the log), registering the content of the following events and data:
1) opening of trading;
2) closing of trading;
3) identification of a participant of trading;
4) time of logging into the system of the participant of trading;
5) time of logging out of the system of the participant of trading;
6) time of submitting the bid by the participant of trading;
7) time of withdrawal of the bid by the participant of trading;
8) time of amendment of the bid by the participant of trading;
9) time of performance of the transaction by the participant of trading;
10) name of the asset;
11) amount of the asset in the bid;
12) number of lots;
13) asset price.
format of the time registration – year, month, day, hour, minute, second (with precision of minimum up to 0, 1 second).
2. Integration of the electronic trading platform with the information system of the authorized body shall be made in accordance with the Rules for integration of e-government computer systems approved by order no. 123 of the acting Minister of Information and Communications of the Republic of Kazakhstan dated March 29, 2018 (registered in the Registry of State Registration of the Regulatory Legal Acts under no. 16777).
3. The following requirements shall apply to the software of the electronic trading platform:
1) the electronic trading platform must be integrated with the information system of the authorized body and it must daily transfer to such system information, specified in the Event Registry, as well as Transaction Certificates, signed with an electronic digital signature by an authorized officer of the electronic trading platform;
2) electronic trading platform shall ensure the automatization of the process of concluding the transactions, as well as collection, storage, processing and disclosure of information;
3) In order to avoid complete or partial loss of information and violation of integrity of databases, the software tool of the electronic trading platform shall be built in such a manner that to ensure processing of errors of a user, errors, occurring in case of technical failures, and errors of databases with presentation of messages to the user, where the subsequent actions are described;
4) The software tool of the electronic trading platform shall have a module of control over program work, ensuring such features as:
user’s identification (recognition), authentication (verification) and authorization (assigning of powers);
control over access to the resources of the electronic trading platform;
registration and analysis of events, taking place in the electronic trading platform;
control of integrity of the resources of the electronic trading platform;
5) the software tool of the electronic trading platform shall not allow amending the output data, formed according to the results of the trading;
6) the electronic trading platform shall ensure maintenance of a unique automatically assigned number of performed transaction in the event log;
7) the electronic trading platform shall ensure strict conformity of the data of report on performed electronic trading with the content of the event log.
4. The following requirements shall apply to the hardware of the electronic trading platform:
1) server and communication equipment shall ensure performance, sufficient for securing the regulation of works;
2) scalability – opportunity to process growing volumes of information.
5. Organizational and technical requirements to the electronic trading platform shall include the following parameters:
1) Each participant of electronic trading shall have equal rights and access to the electronic trading platform. The number of participants shall not be limited either by performance or by hardware and software features of the electronic trading platform;
2) technical centers of the electronic trading platform shall be equipped with reserve communication channels and reserve power supply, ensuring flawless operation of the electronic trading platform.
6. An electronic trading platform must comply with information security requirements, in accordance with the legislation of the Republic of Kazakhstan on informatization.
Footnote. Paragraph 6 as amended by Order No. 5 of the Minister of Energy of the Republic of Kazakhstan dated 08.01.2020 (shall be enforced upon expiry of ten calendar days after the date of its first official publication).