Today KASE celebrates its sixth anniversary

/IRBIS, Nov.17, 99/ - Today Kazakhstan stock exchange (KASE) celebrates its birthday. Six years ago JSC "Kazakhstan currency exchange" was established by the banks to provide an organized trade in foreign currencies in Kazakhstan. Till that time, trade in foreign currency has been held at trade floor of the National Bank of Kazakhstan. Later, the exchange changed its name several times: "Kazakhstan currency exchange", "Kazakhstan interbank currency exchange" (KICE), "Kazakhstan currency-stock exchange" (KCSE), "Kazakhstan stock exchange" (KASE). On September 1, 1997 CJSC "Almaty financial instruments exchange" (AFINEX) - a special floor for trading exclusively in foreign currency and futures contracts, was detached from Kazakhstan stock exchange. CJSC "Kazakhstan stock exchange" (KASE) existed as a separate legal entity. On April 1, 1999 AFINEX was attached to KASE. From this time CJSC "Kazakhstan stock exchange" (KASE) is the only exchange in Kazakhstan where various financial instruments are traded. Today trades at KASE are held in three foreign currencies with settlement of account on TOD terms (same day transfer), $1,000 futures non-delivery contracts, government securities of Kazakhstan (buy-sell sector and repo sector) and non-government issue securities. Initial offering of the first municipal securities of the republic was held at KASE. The Exchange has an experience with enterprise debts.