BAKU, Azerbaijan, July 2
By Nargiz Sadikhova - Trend:
Astana International Exchange (AIX) is launching the AIX Qazaq Index (AIXQI), which measures the performance of the shares of Kazakhstan-linked companies, Trend reports citing AIX.
AIXQI is a market-capitalization weighted index with maximum weight cap.
AIX Index is comprised of Equity and GDR securities of eight Kazakh and Kazakhstan-linked companies traded on AIX, Kazakhstan Stock Exchange, and London Stock Exchange. Kazakhstani companies and Kazakhstan linked include those either registered in Kazakhstan or whose business income is generated partially or fully in Kazakhstan or substantial portion of operational activity is in Kazakhstan.
The AIXQI was launched with base value 1,000.00 points as of July 1, 2021. The AIXQI comes with its own methodology, which is available to the public, and an ad hoc Index Committee will oversee its governance. It was developed by Halyk Finance JSC commissioned by AIX.
Base currency for the Index is Kazakh tenge (KZT). The Index price data, constituents and weights will be published once per day initially based on previous day closing prices on the AIX website under a dedicated section.
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the silk Road Fund, and NASDAQ, which also provides the AIX trading platform.
The exchange operates within a regulatory environment based on the principles of English Law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative.