In honour of the 25th anniversary of Kazakhstan Stock Exchange, we are launching an online project – "KASE: History in Faces", which presents the memories of people who played a significant role in the formation and development of Kazakhstan's financial market and KASE. This is an informal history of the development of the financial sector and the stock exchange of Kazakhstan. People make the history, contributing to the common cause. And we will tell in in the first person.
The history of our exchange is full of interesting facts. We are counting from the day Kazakhstan switched to the national currency, namely, from the moment the first tenge / dollar trades were launched. In the nineties, and especially in the noughties, when building a market infrastructure, the best of the accumulated global experience was taken and, first of all, thanks to Kazakhstan's young enthusiasts involved in the formation of the exchange market at the junction of two economic systems, in the transition from planned budgeting to the market economy.
At that time, we had to do a lot for the first time in the history of our country: launch trading in currency pairs, organize trading in government securities, bonds, stocks, learn new concepts, terms, rules of the game and teach others how to do this, open new trading floors, develop software .. And all this against the background of the formation of a young independent Kazakhstan, in competition with the global financial market.
Almost a quarter of a century has passed. Over the years, Kazakhstan Stock Exchange has acted not only as a locomotive of development and as a platform for trading various financial instruments. KASE today is a barometer and one of the inalienable and important market structures of the economy, experiencing growth and decline with it. Over 390 financial instruments, 124 shares and 250 bond issues are traded on KASE, the annual trading volume of all financial instruments in 2017 exceeded 152 trillion tenge, and KASE Index has been consistently one of the three most rapidly growing world stock market indices for the past three years.
Starting from scratch and standing on a par with international exchanges, albeit not in terms of volume, but in terms of development, technical, technological and intellectual capital, is not easy. But we managed to do it. Today KASE continues to improve, a new stage of development awaits us. For our anniversary, we, our friends and colleagues decided to recall and share our experience, plans, results achieved, mistakes made ... And although we did not arrange essays in chronological order, and the assessments and judgments presented in them can be subjective, they all add up into a holistic picture of how the country's financial market was built and how the formation of Kazakhstan Stock Exchange took place.
So, friends, the story promises to be fascinating. Enjoy your reading!
Аlina Aldambergen, Chairman of Management Board
Published interviews in the framework of the project "KASE: History in faces" (in Russian):