Citi to provide custody services to the AIX

19 November 2019

Citibank Kazakhstan JSC (Citi) became a custodian of the Astana International Exchange Central Securities Depository (AIX CSD). Citi will be offering settlement and safekeeping services for foreign securities trading at AIX.

CEO of AIX, Tim Bennett, said:

‘AIX is excited to partner with Citi to support the growth of our business. The custodial relationship will support broadening our post-trade services and the introduction of new products.’

Andrey Kurilin, President of Citibank Kazakhstan JSC, commented:

‘We at Citi are pleased to contribute our global custody expertise to the AIFC success. Our robust digital platform will help investors raise efficiency and reduce operational risks’.

Reference information:

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 common 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. More details:

AIFC. Astana International Financial Center (AIFC) was established on the initiative of Nursultan Nazarbayev, the First President of the Republic of Kazakhstan. The constitutional law establishing AIFC was signed on December 7, 2015. The aim of AIFC is to form a leading center of international financial services. The objectives of AIFC are to assist in attracting investments into the country’s economy, create an attractive environment for investment in financial services, develop the securities market of the Republic of Kazakhstan and ensure its integration with international capital markets.

AIX CSD Astana International Exchange Central Securities Depository Limited (AIX CSD) is a private company incorporated under the Acting law of the AIFC responsible for daily cash and securities settlement and depositary activities. AIX CSD holds a commercial license from the Registrar of Companies of the Astana Financial Services Authority (AFSA). AFSA, where AIX CSD is incorporated, also acts as the AIX CSD’s Regulator. AIX CSD is solely owned by AIX.

Citi. Citibank Kazakhstan JSC, an affiliate of Citigroup, is one of the country’s largest banks by the client transactions volume. Citigroup has helped raise tens of US$ billions in financing for the Kazakhstan economy.

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