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Moscow Exchange to take 20% stake in Kazakh bourse

PJSC Moscow Exchange MICEX-RTS signed a strategic partnership agreement with Kazakhstan Stock Exchange JSC, or KASE, under which it will acquire a 20% stake in the Kazakh counterpart.

The aim of the agreement is also to provide Kazakh and Russian professional market participants and investors with mutual access to markets in both countries and to enhance infrastructure reliability and reduce market risks through the development of a central counterparty facility. The Kazakh exchange already introduced a central counterparty facility for trades on its foreign-exchange market Oct. 1 and plans to introduce a similar facility on its stock market and money market with support from the Moscow Exchange.

In addition, the Russian stock exchange will support KASE in its plans to carry out a public offering. The Moscow Exchange will also share its expertise and technologies with the Kazakh bourse to improve the latter's exchange trading, clearing and risk management processes and to create new exchange-traded instruments, the Russian stock exchange operator said Oct. 10.