BAKU, Azerbaijan, May 30. Kazakhstan Stock Exchange (KASE) and Baku Stock Exchange (BSE) continue active cooperation aimed at sharing experience and developing new joint projects, the Deputy Chairman of the Board of KASE, Ermek Mazhekenov told Trend in an exclusive interview.
"At the level of exchanges, we have signed memoranda of cooperation with the Baku Stock Exchange (BSE), within the framework of which we regularly exchange experience. Practically, this is expressed in working meetings in terms of interaction on the provision of exchange data, consideration of sponsored and cross-listing opportunities, as well as in joint educational events such as KASE Day in Baku," Ermek Mazhekenov explained.
He noted that the parties are carefully studying the development of complementary financial instruments, such as dual listing of individual corporate bonds, but it is premature to talk about specific timing.
According to him, promising areas of cooperation are four key areas: market-data and IT infrastructure with a focus on standardization of data transfer protocols and compatibility of trading systems software; cross-listing and sponsored listing, thanks to which instruments of Kazakh and Azerbaijani issuers will be able to circulate on both platforms, which will expand the audience of investors; ESG and Islamic instruments - both countries are actively developing "green" issues and sukuk, and here the unification of disclosure is possible
"Theoretically, this creates a basis for gradual mutualization of securities. However, we are moving progressively, assessing the regulatory features of each jurisdiction, so we are talking about the potential, not a decision made," Mazhekenov emphasized.