Kazakh stock exchanges KASE and AIX will merge into a single platform in March 2024, Interfax-Kazakhstan reports.
According to KASE director Alina Aldambergen, the exchanges do not operate in accordance with general legislation and their activities are controlled by two different regulators, which “raises doubts.”
Speaking about the format of the merger, Aldambergen clarified that KASE can provide its instruments to AIX, but this requires the consent of the second exchange’s regulator. KASE markets both Kazakh and foreign financial instruments.
In early September, the President of the Republic Kassym-Jomart Tokayev ordered to combine the potential of AIX and KASE. This, according to the Head of State, will contribute to increasing the attractiveness and development of the country’s stock market.
The AIX features securities of Russian companies, notably Ozon and O’Key and Rusagro, all of which went public in 2023. Brokers working on the site include Russian IVA Partners, Renaissance Broker, Renaissance Capital and BCS.
In August, Russian companies represented on the AIX had difficulties starting operations. They could not find market makers to maintain trading liquidity.
A few months earlier, in April, the KASE exchange required local brokers to separate the accounts of Russians and Belarusians from other accounts.
Author:
Natalia Gormaleva
Source: RB
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