The new Kazakhstan stock exchange ITS, located in the jurisdiction of the Astana International Financial Center (AIFC), will not work with Russian brokers and securities, writes the Interfax agency.
Trading in world securities has started in Kazakhstan on the new ITS platform.
“ITS will not serve Russian brokers serving retail investors, nor will it serve Russian papers. This is not in our business model and we will not involve Russian brokers,” said Chingiz Kanapyanov, Chairman of the ITS Board of Directors.
Overall, investors gained access to trading in more than 1.5 stocks and certificates of deposits listed on the US, NYSE, and NASDAQ stock exchanges. This list includes securities issued by NVIDIA, Shell, Intel, Microsoft, Baidu, and others.
As Frank Media previously wrote, citing sources, SPB Exchange, Freedom Holding, and other major players were involved in the discussion about launching a new exchange in Kazakhstan.
The new trading platform could help Russian companies attract foreign capital. And the St. Petersburg Stock Exchange, in turn, would provide opportunities to continue trading in foreign securities in the event that foreigners prohibit transactions.
In early 2023, the St. Petersburg Stock Exchange told Forbes that it had provided ITS with its technology and business model for trading foreign securities.
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