Representatives of NasdaqInc, one of the largest exchange groups in the world, conducted a two-day joint workshop with Astana International Financial Centre (AIFC). In the framework of this event the Prime-Minister of the Republic of Kazakhstan Mr. Sagintayev met Nasdaq team and discuss future joint cooperation with AIFC.
Commenting on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev of establishing AIFC, Prime Minister emphasized that the financial centre has a special status. In particular, AIFC participants will be provided unprecedented conditions. At the moment AIFC is working on the establishment of a high-tech exchange infrastructure corresponding to the best world standards. The Prime-Minister noted AIFC’s important role in the implementation of the privatization program in terms of the development of the regulatory framework and attracting foreign investors.
Nasdaq and AIFC are cooperating within the framework of a signed October 2016 MOU and agreed to establish a long-term strategic partnership. By collaborating with Nasdaq, AIFC Exchange will become a platform for attracting investments into Kazakhstan's economy through conducting IPO’s of "national champions" and through privatization of state-owned enterprises (SOEs). As the Government announced a new wave of privatizations that should take place in AIFC in 2018-2020, the market infrastructure will be fully operational in time for the IPOs.
Nasdaq confirmed its commitment to potentially work with AIFC as technology provider, as well as a business and regulatory framework consultant to help launch a successful, highly technological trading platform. Nasdaq will also look to supportthe AIFC Exchange excel as a listing venue and trading platform, while it implements the privatization successfully. Privatization is an important step for any country and will be the major drivers for developing the capital market of Kazakhstan, it is important that the companies are ready and that the privatization process is implemented in the right way.
According to the Governor of AIFC, Mr. Kairat Kelimbetov, AIFC Exchange will be ready to launch first trades in equities by September, 2017. He also attached great importance to cooperation with Nasdaq Inc.
AIFC. In December 2015 President of the Republic of Kazakhstan NursultanNazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in post-Soviet region Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets, and develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.
The Nasdaq is the second-largest stock exchange in the US, with half of all public limited companies listed. It is also second-largest stock exchange in the world after the NYSE when it comes to the market capitalisation of its listed companies and it has the highest trading volume of all electronic stock exchanges in the world.
The name is an acronym for the National Association of Securities Dealers Automated Quotations.It is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,700 listed companies with a market value of $10.0 trillion and approximately 18,000 corporate clients.