11 Apr 2018 10:37

Moscow Stock Exchange enters partnership with KASE

ASTANA. April 11 (Interfax) - The Moscow Stock Exchange may acquire interest in the Kazakhstan Stock Exchange (KASE), as specified in the agreement on strategic cooperation signed on Tuesday between the two trading platforms.

The agreement is designed to develop the Eurasian economic space and establish a unified financial market across the Eurasian Economic Union, The Moscow Stock Exchange said in a press release.

The agreement provides traders and investors with access to both stock markets, contributes to the building of central counterparty infrastructure on Kazakhstan's markets, delivers MOEX's trading and clears IT solutions to KASE's markets, and provides consultations on how to improve on-exchange trading, clearing and risk management processes, as well as creating new exchange-traded instruments.

Under the agreement, MOEX may in the future acquire an interest in KASE.

"This partnership is an important step towards the integration of the markets of the Eurasian Economic Union. It aims to improve the attractiveness of our marketplaces and boost liquidity of exchange-traded instruments. Investors in both countries will receive access to new instruments, while issuers will enjoy new sources of capital," CEO of Moscow Exchange Alexander Afanasiev said.

"This agreement will allow us to have Moscow Stock Exchange on board as a strategic partner possessing advanced market technologies, as well as increasing the number of investors and achieve deeper integration of our markets within the Eurasian Economic Union," CEO of Kazakhstan Stock Exchange Alina Aldambergen said.

Moscow Exchange Group manages the sole multifunctional exchange platform in Russia for equities, bonds, derivative instruments, currencies, money market instruments, precious metals and agricultural products. The Group includes Russia's central securities depository (National Settlement Depository), and National Clearing Centre, performing the functions of the central counterparty on the markets, which allows Moscow Stock Exchange to offer its clients the full spectrum of trading and post-trading services.

Moscow Exchange ranks among the world's top 25 exchanges by total volume of equities traded, and among the ten largest exchanges for bond and derivative trading. It is also Russia's primary venue for raising funds via the capital markets. Securities of 664 Russian companies were traded on MOEX as of 1 April 2018.

Kazakhstan Stock Exchange (KASE) is the leading trading venue in the Asia-Pacific Region. It is a multi-asset marketplace with a product offering repo instruments, foreign currencies, government and corporate securities, international bonds and derivatives.

KASE is a member of the World Federation of Exchanges (WFE), Federation of European and Asian Stock Exchanges (FEAS) and other international and domestic professional associations. KASE is ranked the second by volume of securities traded among exchanges in the CIS and the sixth by equity market capitalisation among the FEAS exchanges.