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KASE press conference dedicated to the launch of trading in ASTS+ trading and clearing system and the introduction of central counterparty services on the stock market
On December 18, 2019, Kazakhstan Stock Exchange (KASE) held a press conference jointly with the Moscow Exchange (MOEX) dedicated to the launch of trading in the ASTS+ trading and clearing system and the introduction of services of the Central Counterparty (CCP) on the stock market.
The ASTS+ system developed on the basis of MOEX’s trading and clearing system has been introduced at the KASE stock market since December 3, 2019. On the same day, KASE began performing CCP functions on financial instruments that started being traded in the new system. Both events are stages of implementation of the Strategic Partnership Agreement between KASE and MOEX.
At present, trading in shares, bonds denominated in US dollars; securities of investment funds; Eurobonds of the Republic of Kazakhstan; securities of international financial institutions; derivative securities (GDRs) opened in ASTS+. There are a total of 168 instruments.
A total of 3,909 transactions amounting to KZT10.7 billion were made in ASTS+ during the period from December 3 to December 13, 2019. The number of members of the Exchange participating in trading reached 17.
During the press conference, Alina Aldambergen, the chairman of the KASE Management Board said: "The Kazakhstan Stock Exchange has acquired a high-tech system ASTS+, which supports multiple modes and methods of trading and provides for the use of central counterparty’s services within the framework of the Strategic Partnership Agreement with MOEX. KASE’s settlement and clearing system is now fully compliant with the Principles for Financial Market Infrastructures of International Organisation of Securities Commissions (PFMI-IOSCO). The introduction of the CCP will help reduce transaction costs of trading participants and help to enhance trust in the stock market and to increase confidence in transactions as calculations are guaranteed by a highly reliable financial institution. It is expected that the introduction of the CCP will help increase liquidity by attracting more trading participants, to increase the customer base, including non-residents and to increase the recognition of the Kazakhstan stock market on the international arena".
During the press conference, the members of the Exchange – Freedom Finance and BCC Invest, a subsidiary of Bank CenterCredit – concluded the first transaction in the new trading and clearing system ASTS+ on December 3, 2019 when first trades were made in this system - were awarded diplomas.