Kazakhstan Stock Exchange (KASE)

The Kazakhstan Stock Exchange (KASE) isan organized trading platform for securities and derivative financial instruments. It is located in the southern capital of the state - the city of Almaty. The Kazakhstan Stock Exchange was opened in 1993 and is still functioning today.

Main characteristics

Type - stock exchange.
Location - Almaty city in Kazakhstan.
The beginning of work is November 17, 1993.
The number of shareholders is 46.
Key figures are Eszhan Birtanov (chairman of the board), Idel Sabitov, Andrei Tsalyuk, Natalia Khoroshevskaya, Amina Turgulova.
Currency - tenge.
The number of companies that have been listed is 130.
Market capitalization - 42.5 billion US dollars (as of October 2015).
Indices - KASE Index and its derivatives.

History of formation

In November 1993, Kazakhstan introduced itsown currency - tenge. Within two days, the National and commercial banks decided to open an organized platform for trading in securities and derivative financial instruments. Before that, there was a currency exchange in the country. It was a structural subdivision of the National Bank of Kazakhstan. The Kazakhstan Stock Exchange was to create and develop the market of a new monetary unit. She was renamed several times. Its original name is "Interbank Currency Exchange". The sale of securities began on this trading floor in 1995. In this regard, it was again renamed. Now it became known as the Kazakhstan Interbank Currency and Stock Exchange. Initially, it was allowed to trade only government securities.

The modern name "Stock Exchange of Kazakhstan"was registered only in 1996. Since under current legislation in Kazakhstan it was impossible to simultaneously trade in securities and financial instruments, KASE shareholders decided to allocate in its composition a separate legal entity in the form of a closed joint stock company. It was named "Almaty Stock Exchange of Financial Instruments" or abbreviated to AFINEX. The reunification of organizations occurred on March 16, 1999 after the introduction of amendments to the Kazakh legislation.

Current stage of development

After the reform in 1999, Kazakhstan StockExchange held its first trading in bills of exchange, foreign securities, launched a market of direct and automatic repo. In 2007, on its base, the Almaty trading floor was established, which by that time had already turned into a regional financial center. In the same period, shareholders decide on the commercialization of the exchange. The principles of voting within the KASE are changing. If earlier each shareholder had one vote, now there is an equity participation system in the management. In 2011, the Kazakhstan Stock Exchange signed cooperation agreements with trade sites of the Republic of Korea, Turkey and Iran. In 2012, she received a license to conduct clearing operations. The Kazakhstan Stock Exchange is currently trading in the Chinese national currency, the yuan. She is a full member of the WSE. This organization brings together leading organizers of trading in securities and derivatives.

KASE structure

Kazakhstan Stock Exchange is a commercialorganization. It functions in the form of a joint-stock company. Its supreme body is the general meeting of shareholders. Everyday management is carried out by the Board of Directors. The Executive Board is the Exchange Board.

Shareholders and members of the exchange

KASE holds licenses for operations innational and foreign currency and activities on the securities market. According to data for October two thousand and fifteenth year she had 46 shareholders. These include banks, brokerage organizations and even a pension fund. The controlling stake is held by the National Bank of the Republic of Kazakhstan (50.1% of the total). This gives him the right to veto unprofitable decisions in the sphere of currency and stock regulation in the state.

All members of KASE can be conditionally divided into threegroup. Everything depends on their sphere of interest: derivatives, currency or stock transactions. The status of a member of KASE in October 2015 has fifty-four financial companies and other professional market participants.

Cooperation with international organizations

KASE is included in the following important institutions:

World Federation of Exchanges. This organization unites 60 trading platforms, on which practically all the stock market turnover of the world is concentrated.
Federation of Eurasian stock exchanges. It unites about fifty professional stock players of developing countries of this region.
International Association of Exchanges of CIS Countries. This organization has about 20 trade sites from 9 states of the Commonwealth of Independent States.
International Association of Distributors and Consumers of Financial Information. Among its participants are leading banks and other interested organizations.
Association of Financiers of Kazakhstan.

Listing on the exchange

The procedure and terms of inclusion of securities inofficial list of KASE after the submission of the statement issued by the organization considers in accordance with the internal regulatory legal acts of the trading platform. The listing procedure consists of the following steps:

Verification of the issuer for its compliance with the internal requirements of the exchange.
Listing by the Listing Commission of the securities of the applicant into the official list.
The passage of trades on them (no later than 6 months after the decision to approve them by the exchange).

Performance Indicators

The conjuncture of the Kazakhstani trading platformis described with the help of a number of indicators, which are calculated by the Exchange at the end of each business day. The most famous is KASE Index. It is calculated on the basis of transaction prices for the most liquid stocks and market capitalization. Its values are published at the end of each business day. To date, the development of a number of new indicators of the functioning of the Kazakhstan Stock Exchange on its basis is underway.

</ p>>