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Benefits of Uzbek businessmen working with Kazakh Stock Exchange (Exclusive)

Finance Materials 17 November 2019 23:58
Benefits of Uzbek businessmen working with Kazakh Stock Exchange (Exclusive)

BAKU, Azerbaijan, Nov. 17

By Fakhri Vakilov - Trend:

The Kazakhstan Stock Exchange (KASE) and Uzbekistan’s Republican "Toshkent" stock exchange have their own unique development path and experience, a KASE representative told Trend in an interview.

"Cooperation and exchange of experience between our exchanges are becoming relevant and valuable," the official said.

In Sept. 2018, a memorandum between KASE and "Toshkent" was signed. Within the framework of memorandum an exchange of experience is expected, as well as assistance in providing mutual access to national exchange markets for professional participants in the securities of both countries’ market, promotion of the practice of mutual admission and placement of Kazakh and Uzbek companies’ securities.

"The KASE Day in Tashkent event" was organized and conducted with the support of the Republican Stock Exchange" Toshkent ", the main purpose of which was to facilitate the establishment of business relations between professional participants in the stock markets of our countries," the representative said.

KASE provides a full range of services for its members, including trading and post-trading services. Uzbek companies have access, including remote access, to a universal exchange platform represented by three markets - stock, foreign exchange and derivatives markets.

"Uzbek brokerage companies and banks, along with access to the KASE exchange platform, will be able to trade securities of Kazakhstan and foreign issuers. there are over 800 financial tools in KASE's trading system, including securities of investment funds, bonds of international financial organizations, government securities of Kazakhstan and five currency pairs," the representative noted.

According to the official, KASE and "Toshkent", being the key infrastructural institutions of national stock markets, contribute to the strengthening of intercountry economic ties.

"We intend to continue to adhere to the policy of expanding cooperation between our exchanges and professional participants in national stock markets," the representative said.

He added that partners from Uzbekistan will have the opportunity to attract financing on the KASE site, including issuing and placing bonds in accordance with the laws of Kazakhstan and access to a wide investor base represented by institutional and retail investors.

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Follow author on Twitter:@vakilovfaxri

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