KASE Clearing Center Launches Centralized Clearing for OTC FX Trades via NTPro Platform, DKnews.kz reports.
Starting August 1, 2025, the KASE Clearing Center officially launches clearing, settlement, and central counterparty (CCP) services for over-the-counter (OTC) foreign exchange transactions executed via the NTPro trading platform. This marks a major step toward building a more transparent, reliable, and liquid FX market in Kazakhstan.
What is NTPro?
NTPro is a digital platform designed to automate FX trading in the over-the-counter segment. Previously, trades were carried out through direct negotiations between counterparties. Now, thanks to the KASE Clearing Center, participants can clear and settle their OTC transactions centrally - with all the efficiency and risk mitigation that entails.
How does it work?
The KASE Clearing Center acts as the central counterparty and settlement institution for trades executed in NTPro’s “Negotiated Deals” (NTPL) mode. If the clearing and settlement option is selected, those trades are automatically routed to the ASTS+ trading and clearing system of the Kazakhstan Stock Exchange (KASE).
This means participants no longer need direct or sufficient credit limits with counterparties in the OTC market - they can now rely on their available limits with the KASE Clearing Center to execute trades more freely and securely.
Unified Clearing Pool for OTC and Exchange Trades
One of the key advantages of this model is that OTC trades on NTPro are combined with exchange-based trades into a single clearing pool. This makes liquidity management easier, streamlines settlements, and enhances overall operational efficiency for market participants.
All net settlements for these trades are handled by the KASE Clearing Center under the same rules and procedures that apply to exchange FX transactions.
Supported Currency Pairs
Clearing services are currently available for OTC transactions in the following currency pairs, which are also traded on the KASE FX market:
- USD/KZT
- RUB/KZT
- CNY/KZT
- EUR/USD
- EUR/KZT
- USD/CNY
- EUR/CNY
Why use NTPro for clearing?
Market participants who use the NTPro platform for centralized clearing gain access to a wide range of advantages:
- Wider counterparty access – Execute trades without needing pre-set limits for each individual counterparty, expanding your trading possibilities.
- Lower credit and settlement risk – All trades are processed through the KASE Clearing Center, which acts as the legal counterparty and handles centralized settlement.
- Netting of OTC and exchange trades – Positions are consolidated, simplifying portfolio and risk management.
- Unified collateral pool – Margin posted can be used for both OTC and exchange-based trades, improving capital efficiency.
- Guaranteed execution – Centralized clearing ensures reliable performance of all obligations.
- Pre-trade collateral verification – The system checks in real time that the necessary collateral is available before a trade is executed.
How to get connected?
To access the clearing services for trades on NTPro, a participant must:
- Register and become a user of the NTPro platform;
- Be a member of the Kazakhstan Stock Exchange (KASE);
- Obtain the status of a clearing participant in the trading environment;
- Set up technical access to the ASTS+ system via a specialized gateway that transmits OTC transactions for centralized clearing and settlement.
Why does it matter?
Kazakhstan’s FX market is growing rapidly, and the introduction of centralized clearing for OTC transactions supports broader goals around transparency, financial stability, and digital infrastructure development.
“The introduction of clearing services for over-the-counter transactions executed on the NTPro platform is an important step toward creating a more transparent, reliable, and efficient FX market. We are giving participants access to centralized clearing and settlement, which reduces risk and expands the potential pool of counterparties. This solution not only simplifies processes but also contributes to increased liquidity in the FX market,” said Natalia Khoroshevskaya, Chair of the Management Board of KASE Clearing Center.
If you're an active participant in Kazakhstan’s currency market, connecting to NTPro via the KASE Clearing Center opens up new levels of flexibility, security, and efficiency. More liquidity, fewer risks, and one powerful infrastructure - all in one place.
