Baku, Azerbaijan, Feb. 1
By Ali Mustafayev – Trend:
The National Bank of Kazakhstan intends to reduce its share in the capital of the Kazakhstan Stock Exchange (KASE) in order to implement advanced international practices, considering attraction of new strategic partners, according to the plan on Joint Action of the National Bank and the government of Kazakhstan on the development of the national stock market for 2018-2021.
This move is expected to increase the authorized capital of the stock exchange, as well as to modernize its trading platform.
"This measure is due to the need to maintain the quality and the range of services provided by the stock exchange, including the introduction of mobile services for all participants of the securities market," the document says.
It is necessary to concentrate efforts on the development of the main systems of the stock exchange, including trading system, clearing system, FIX-gateways, that will provide traders with new products and a qualitative basis for developing their own information systems that have access to the stock exchange systems, according to the message.
The top five shareholders of Kazakhstan Stock Exchange include the National Bank of Kazakhstan (50.1 percent), Centrica LLP (6.88 percent), Kazkommertsbank (6.33 percent), Bank Center Credit (3.62 percent), Kaspi bank - (3.01 percent).