FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
KAZAKHSTAN STOCK EXCHANGE
The volume of trades at KASE nearly
doubled in compare to 2006.
Azamat Joldasbekov
President
In 2007 the Kazakhstan Stock Exchange (KASE)
has become a commercial entity, expanded
and modified its organizational structure,
adopted international principles of corporate
governance, and launched the process of
preparation to the issuance of IPO. The volume
of trades at the KASE nearly doubled in
compare to 2006.
The overall volume of trades in all sectors of the
market achieved US$ 322.5 billion with the repo
market representing 65% of the total market
turnover.
In 2008 the KASE plans to take rigorous and
decisive steps in fulfillment of its development
strategy adopted last year. The strategy is
aimed at becoming a successful commercial
entity adhering to internationally accepted
FUTURE OUTLOOK
The Kazakhstan Securities Market Development
Program adopted by the Kazakhstan
government determined the main directions for
further development of the equity market in
Kazakhstan. This program also established and
prioritized program tasks directly related to the
activities of the KASE.
With reference to the governmental program the
KASE has elaborated 2007-2010 Development
Strategy–a comprehensive document that
describes organizational and structural reforms,
lists priority areas and phased approach, linking
identified performance factors with strategic
standards and best practices essential for
integration of Kazakhstan’s securities market
into the global financial system. Along the
lines of this strategy, the KASE undergoes
operational and structural changes devoted to
commercialization and additional capitalization
of the Exchange. The Exchange would like to
serve as an etalon of a joint stock company and
issuer of securities in Kazakhstan setting an
example for other listed companies in terms of
corporate governance, management and
information transparency.
Based on the original intentions highlighted in
the development strategy, as well as results of
the recently conducted survey among the
members of the Exchange, the KASE is
planning to modify, develop and improve its
services.
initiatives and projects designed to develop and
optimize organizational activities.
The essence of the strategy is further growth and
development of “the KASE as a leading regional
financial market that enables investors from all
over the world to trade a wide variety of financial
products with minimal calculated risks according
to the world’s best practices, as well as benefit
from other accompanying services of the KASE.”
The KASE has identified the following areas of
development:
• Commercialization and corporate structure
• Membership development
• Financial instruments
In particular, the Exchange would like to expand
the range of financial instruments traded on the
KASE, modify its listing requirements and
settlement procedures, develop and adopt the
automated system of information disclosure,
modify its trading system, conduct the software
and hardware upgrade, finalize and launch an
improved version of the web-site, among other
things.
With new reforms, the KASE hopes to further
develop Kazakhstan’s securities market
reaching high international standards,
contribute to the overall economic development
of the country, as well as promote development
of the financial markets of the Central Asian
region.
• Listing
• Information availability about issuers of
securities and their activities
• Technologies
• Calculations
• Regulating and supervising functions of the
Exchange
• Tariff policy
• Marketing and Public Relations
• Location of the Stock Exchange
• Organizational structure and Human
Resources
• Financial operations of the Stock Market.
• Capitalization
CONTACT INFORMATION
Contact Name Mr. Babenov Bolat
E-mail [email protected]
Website www.kase.kz
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