FEES Schedule 6, 6.4: the Recognised Non-AIFC Member trading value fee is ambiguous for members on several platforms

The trading value fee applies to members "whose trading value is over 25 million USD per quarter on each trading platform". For a member above the threshold on one platform and below it on another, the text can mean that no fee is due (not over the threshold on each platform) or that a fee is due per platform; the base ("0.001% of trading value") does not say whether it is per platform or in total.

Proposed correction

Please state whether the USD 25 million quarterly threshold applies per platform or across platforms, and specify the trading-value base of the variable fee.

Jurisdiction

Kazakhstan — AIFC

Act

AIFC Fees Rules (FEES), AIFC Rules No. FR0007 of 2017, V18

Place

Schedule 6, 6.4, row 'Recognised Non-AIFC Member', para 1

Record

Discrepancy

Class

Text of the act

Where it arose

The text of the act

Arxo's conclusion

Confirmed

Official text

Unchanged at last check

Last checked

2026-10-25

Evidence

Contradiction within the text. Quotations are verbatim from the official material; translations are ours and marked.

For Recognised Non-AIFC Members that are admitted to trading by an Authorised Investment Exchange, Multilateral or Organised Trading Facility or Digital Asset Trading Facility: calculated according to formula 1 below.

or whose trading value is lower than 25 million USD per quarter on each trading platform: a fixed amount of 1 000 USD

whose trading value is over 25 million USD per quarter on each trading platform

TVF – Trading value fee, calculated as 0.001% of trading value, applicable only to Recognised Non-AIFC Members admitted to trading by an Authorised Investment Exchange, Multilateral or Organised Trading Facility or Digital Asset Trading Facility,

How to check it without Arxo's tools

1. Open AIFC Fees Rules (FEES), V18, with amendments as of 13 November 2025 and find Schedule 6, 6.4, row 'Recognised Non-AIFC Member', para 1; Schedule 6, 6.4, row 'Recognised Non-AIFC Member', para 2; Schedule 6, 6.4, Formula 1, TVF. Compare the text with the quotation above. A copy is kept in this register: b5e10ace11734eda-fees-v18.pdf (SHA-256 b5e10ace11734eda9e2edf7ab4dc62ef97ee659e460dbcb48ab5c4815f8de8f6, copy of the official file).
2. The finding holds if the quoted passages read as shown and the comparison gives the result stated at the top of this page. If it does not, write to us with the record ID.

How this finding was made

AI agents read the official texts, turned the provisions concerned into executable rules and ran the comparison; they also drafted this record. A person at Arxo checked the finding and approved the report before it was sent (2026-10-27).

Responsible institutions

• Astana Financial Services Authority (AFSA) — author of the AIFC Rules

Reported to

Responses

No response recorded.

History

1. 2026-10-23Confirmed by Arxo
2. 2026-10-27Entered in the register
3. 2026-10-27Reported to Astana Financial Services Authority (AFSA) (e-mail)

Cite this record

Arxo Law, Arxo Findings Register, ARXO-2026-0040, https://arxo.io/findings/ARXO-2026-0040/ (status as of 2026-10-25). Data: ARXO-2026-0040.json.