The Kazakh Stock Exchange announced the termination of its relations with the Moscow Stock Exchange

The Moscow Stock Exchange is no longer listed among KASE’s shareholders, as published on its website. In addition, on September 30, 2024, Moscow Stock Exchange representative Vladimir Krekoten left the board of directors of KASE, according to the statement.

It points out that the relationship between the exchanges was based on a strategic cooperation agreement signed by the parties in October 2018, as well as documents related to this agreement.

During the partnership period, KASE and the Moscow Exchange implemented strategic projects, including the modernization of trading and clearing systems, the introduction of central counterparty services in all foreign exchange markets, and the opening of trading in new financial instruments. , indicated the KASE.

Previously, on October 11, President of the National Bank of Kazakhstan Timur Suleimenov announced the Moscow Stock Exchange’s plans to withdraw from KASE shareholders. He indicated that “this is the right professional decision.”

• On June 12, the US Treasury imposed sanctions against the Moscow Exchange and the National Clearing Center (part of the Moscow Exchange). On June 13, the site announced the suspension of operations with the US dollar and the euro.

• As of June 1, 2024, the Moscow Stock Exchange held 13.1% of KASE’s outstanding shares. US sanctions apply to persons who own 50% or more of the securities, TASS emphasized.

• Due to US restrictions against the Moscow Stock Exchange, the merger of KASE and the Astana International Exchange was suspended, Suleimenov said in July. The idea of ​​combining the two sites was first expressed by the President of Kazakhstan, Kassym-Jomart Tokayev, in September 2023.