Astana International Exchange (the “AIX”) is pleased to announce that it has been approved as a full member of the World Federation of Exchanges (the “WFE”, “Federation”), the global industry group for exchanges and CCPs, which represents over 250 market infrastructure providers, including 68 exchanges – full members of the WFE. Members of the WFE voted anonymously for the AIX membership at the WFE’s 60th General Assembly after AIX has passed the Federation’s rigorous inspection procedures.
The purpose of the WFE is to contribute to the development, support and promotion of organised and regulated securities and derivatives markets, in order to meet the needs of the world’s capital markets in the best interests of their users.
The WFE works with standard-setters, policy makers, regulators, and government organisations around the world to support and promote the development of fair, transparent, stable and efficient markets. The WFE shares regulatory authorities’ goals of ensuring the safety and soundness of the global financial system.
Nandini Sukumar, Chief Executive Officer, the WFE said:
“We are delighted to welcome AIX to WFE membership. Our criteria, process and inspection is a stringent one involving an assessment of the market structure and the regulatory framework in which it sits, discussions with stakeholders in the national jurisdiction, a peer review process and an inspection. AIX joins 68 other exchanges and CCPs around the world that have met WFE standards as laid out in our principles for exchanges.”
Renat Bekturov, CEO of AIX, commented:
“We are delighted to be welcomed within the global community of Exchanges. This membership is a recognition of the AIX as a marketplace which meets the highest standards of leading global bourses and plays a vital role in developing an innovative and vibrant local capital market.”
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 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:www.aix.kz
The Astana International Financial Centre was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Centre’s development strategy until 2025 was approved by the Management council of the AIFC during the council’s meeting on July 2, 2020. In accordance with the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe. The mission of the AIFC is in assisting the sustainable and long-term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region. ”The strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.” https://aifc.kz/
WFE. Established in 1961, the WFE is the global industry association for exchanges and clearing houses. Headquartered in London, it represents over 250 market infrastructure providers, including standalone CCPs that are not part of exchange groups. Of the WFE’s members, 35% are in Asia-Pacific, 45% in EMEA and 20% in the Americas. WFE’s 57 member CCPs collectively ensure that risk takers post some $1 trillion (equivalent) of resources to back their positions, in the form of initial margin and default fund requirements. WFE exchanges are home to 47,919 listed companies, and the market capitalisation of these entities is over $109 trillion; around $137 trillion (EOB) in trading annually passes through WFE members (at end 2020).