Marking a significant move for the country’s financial market, Kazakhstan Stock Exchange (KASE) has announced the withdrawal of Moscow Exchange PJSC (MOEX) from its shareholders.
An updated list of shareholders, available on the official site of the Exchange, shows that as of October 11, 2024, the main shareholder of KASE remains the National Bank of the Republic of Kazakhstan, with a 47% stake. .
According to reports, the conclusion of its cooperation with MOEX, KASE marks the end of a collaborative phase that began on October 10, 2018, following the signing of a Strategic Partnership Agreement between the exchanges. During this period, several key projects implemented to advance Kazakhstan’s exchange market included modernizing trading and clearing systems, introducing central counterparty services across all trading segments, and launching new financial instruments, such as repo transactions with clearing certificates of participation.
On September 30, 2024, Vladimir Krekoten, representative of MOEX, resigned from the KASE Board of Directors, having applied for early termination of his position. The Exchange expressed gratitude to MOEX for its contribution in realizing strategic tasks to expand the exchange market opportunities and create new products.
KASE remains the leading exchange in Central Asia, providing universal opportunities for trading in corporate and government securities, currency transactions, derivatives, and bonds of international organizations. The Exchange is a member of the International Federation of Exchanges (WFE) and the Federation of Euro-Asian Stock Exchanges (FEAS) and actively participates in the UN Sustainable Stock Exchanges Initiative.
In June, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions against the Moscow Exchange (MOEX), the National Settlement Depository, and the National Clearing Center of the Russian Federation, after which, representatives of the exchange said they would consider continuing business relations with the Moscow Exchange (MOEX), subject to the restrictions on sanctions. On July 15, 2024, KASE Chairman of the Board Alina Aldambergen spoke out about the buyout of the Kazakh exchange’s stake from the Moscow Exchange (MOEX).
