Astana International Exchange (AIX) informs that it has selected KELER CCP and KELER CSD (KELER Group) to provide a full suite of post-trade services to AIX’s members for equity clearing and settlement. KELER CSD is a central securities depository and a financial institution, while KELER CCP is a licensed central counterparty together with more than 25 years of experience, providing harmonized services and connections to all major securities markets. Post-trade services provided by KELER Group are recognized by the leading regulatory institutions of the European Union, including the European Securities and Markets Authority and the Magyar Nemzeti Bank (Central Bank of Hungary). KELER Group operates in the framework of the Hungarian and EU legislation such as the European Market Infrastructure Regulation and the Central Securities Depository Regulation.
Tim Bennett, AIX CEO commented:
“Our cooperation with KELER Group will ensure ease of access as well as cost effectiveness on AIX for global brokers and fund managers. Key benefits include central clearing novation and risk management, access to Tier-1 General Clearing Members and Custodians as well as settlement finality being achieved within an EU jurisdiction while investors’ securities will still be registered with the AIX CSD."
KELER quote
"We are pleased about the opportunity to expand our services to AIX market participants and support AIX to play a key role in the region. As a recognized player in the CEE region, our services will assist the alignment to European standards and create a new financial hub. Offering post-trade services to AIX is testament to our commitment and creates potential for further product developments."
Subject to all necessary regulatory approvals being received, the partnership is expected to go live in the fall of 2019. Subsequently, it will tremendously increase AIX’ distribution network and reach to international institutional investors.
AIX
Astana International Exchange (AIX) was formed in 2017 as part of the development of the Astana International Financial Centre, AIFC. On the 14th November 2018, the first trading session on AIX has been launched by the President of the Republic of Kazakhstan Nursultan Nazarbayev. AIX’s shareholders include AIFC, Goldman Sachs, Shanghai Stock Exchange, the Silk Road Fund and NASDAQ, which also provides AIXs trading 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
KELER Group
KELER CSD was established in 1993, while KELER CCP was founded in 2008 as a subsidiary of KELER CSD. KELER Group provides post-trade services for their participants on the securities and derivatives markets and also on the energy markets.
www.keler.hu, www.kelerccp.hu