Astana International Exchange (AIX) and Nasdaq Dubai in Kazakhstan have signed an agreement to establish a close operational relationship between the central securities depositories (CSDs) of both markets.
Tim Bennett, CEO of AIX, said: “Our agreement with Nasdaq Dubai is a significant step in the continued opening of Kazakhstan and its companies to foreign investment. Since going live in November last year, AIX has been focusing on building our reach with international investors. Our agreement with Nasdaq Dubai is a key milestone in that effort.”
Hamed Ali, Chief Executive of Nasdaq Dubai, said: “As Kazakhstan’s dynamic companies increasingly look abroad for investment, Nasdaq Dubai can provide them with access to a large pool of international and regional investors. Our agreement with AIX promotes cross-border economic growth and wealth creation for Kazakhstan, the UAE and other countries by opening new financial channels for diverse market participants.”
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The collaboration agreement was signed in Nur-Sultan by Hamed Ali and Tim Bennett. The establishment of the link is subject to regulatory approvals.
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS). The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC). www.nasdaqdubai.com
AIX was created in 2017 within the AIFC development framework. AIX shareholders are: AIFC, Goldman Sachs, Shanghai Stock Exchange, Silk Road Fund and NASDAQ which provides AIX trading platform. Exchange operates within the regulatory environment familiar to international investors, in the English law jurisdiction. The Exchange has developed and fully operational trading infrastructure. An ecosystem of local and international brokers has been created. AIX successfully held IPO of NAC “Kazatomprom” JSC in November 2018. Polymetal international plc, large mining company, passed dual listing in April 2019. In addition, Eurobonds of the Ministry of Finance of the Republic of Kazakhstan and corporate bonds of “Kazakhstan Temir Zholy” JSC were placed on the AIX platform. www.aix.kz
AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre for financial services. The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in financial services, develop local capital markets, ensuring their integration with the international capital markets. www.aifc.kz
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