Astana International Exchange and Euroclear Bank launch Enhanced Settlement Service

Tuesday, 18 January 2022


Astana International Exchange (“AIX”, “Exchange”) and its Central Securities Depository (“AIX CSD”) and Euroclear Bank are pleased to announce the launch of a new Enhanced Settlement Service. Under the arrangement, institutional investors can settle trades in Euroclearable securities admitted to trading on AIX either in a Euroclear Bank account (if both members of Euroclear Bank and AIX) or via a custodian account at Euroclear Bank.

The new service offers international investors greater costs efficiencies as these trades can now settle directly in Euroclear’s multi-currency environment.

To participate in the Enhanced Settlement Service, interested market participants must provide a Power of Attorney to Euroclear Bank that AIX CSD has a right to send settlement instructions regarding their account at Euroclear Bank.

Anna Kolesnichenko, CEO of the AIX CSD, stated:

“We are pleased to reach an agreement and complete all necessary technical and legal requirements with Euroclear and offer foreign institutional investors a new service, which allows them to optimize their costs.”

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
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 August 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.”