Moscow Exchange becomes shareholder of Kazakhstan Stock Exchange

By  Trend

Kazakhstan Stock Exchange (KASE) and Moscow Exchange (MOEX) have concluded a deal to sell 32,360 shares of KASE as part of the previously signed strategic cooperation agreement, Trend reports referring to the KASE press service.

As a result of this transaction, MOEX's share in the capital of KASE made up 3.32 percent of the total shares.

It should be noted that the strategic cooperation agreement was signed between KASE and MOEX on October 10, 2018. The agreement provides for the acquisition by MOEX of up to 20 percent of the authorized capital of KASE in two stages.

The main objectives of the exchanges’ cooperation are to provide Kazakh and Russian bidders and investors with mutual access to the markets of both countries; to improve the infrastructure reliability and reduce market risks through the development of the central counterparty institution; to use MOEX expertise and trading and clearing technologies to improve the efficiency of KASE markets, clearing, risk management and create new exchange instruments; as well as to promote KASE's entry into the public market and to use MOEX experience for the initial public offering of KASE shares.

KASE, which is the leading stock exchange in the Central Asian region, is a universal trading platform for repo market tools, foreign currencies, government and corporate securities, bonds of international financial institutions as well as derivatives.

Presently KASE ranks second among the CIS stock exchanges in terms of the volume of trading in securities.

MOEX manages Russia's only multifunctional exchange platform for trading of stocks, bonds, derivatives, currency, money market instruments and commodities.

MOEX is among the five largest trading platforms in terms of trading in bonds and futures contracts, as well as in the Top-25 leading stock markets in the world in terms of the total capitalization of traded shares.