AIX has selected KELER Group to provide post-trade services to AIX’s members for equity clearing and settlement

Monday, 18 March 2019

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 (“ESMA”) and the Magyar Nemzeti Bank (Central Bank of Hungary). KELER Group operates in the framework of the Hungarian and EU legislation Including the European Market Infrastructure Regulation (“EMIR”) and the Central Securities Depository Regulation (“CSD-R”).

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.”

Attila Mónus, KELER CSD CEO commented:

‘‘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.