KASE Future Outlook
Friday, 17 February 2012
In 2012 KASE is planning to work further on its strategic development projects following the successful implementation of some of the major projects in 2011.
The global scale of the 17th FEAS General Assembly in Almaty helped KASE raise awareness of some of the issues that global markets face at the moment, propose changes, and continue to extend its international relationships with foreign fellow exchanges.
On a much the same yet less global scale 2011 was a starting-off point for a much awaited People's IPO program. This is an initiative of Government of Kazakhstan to conduct IPO of companies that are a part of state-owned “Sovereign Wealth Fund “Samruk-Kazyna” JSC. It is planned that the first echelon of companies consisting of KazTransOil JSC (transportation of crude oil, oil refineries, oil and gas pipelines), AirAstana JSC (national air carrier) and KEGOC JSC (electricity grid operator), will go public in the second half of 2012. Through IPOs the Sovereign Wealth Fund is planning to privatize approx. 5-15% of these companies. KASE being one of its major participants prioritized its medium- and long-term projects with its strategic vision for 2011-2013 to successfully support the conduct of IPOs on Kazakhstani market.
In 2012 KASE is determined to continue modernizing its IT systems and infrastructure in order to reduce risk of failure trading in the Kazakhstani stock market ensuring seamless and trouble-free operation of its trading system with a general aim to improve the quality of services offered by KASE.
To address existing issues with reporting of listed companies KASE plans to introduce a special system of electronic documents sharing named "IS2IN" (“issuer to investor”) that will improve the effectiveness of communication and cooperation between KASE and its issuers. In the short-term perspective KASE plans to create an automated surveillance system in order to prevent price manipulations and insider trading.
In order to improve liquidity of the Kazakhstani stock market KASE will continue to develop the project called "Remote membership on KASE" with an aim to create favorable conditions for non-residents of the Republic of Kazakhstan to become members of the KASE and have a remote access to trading. KASE will also work on improving of Direct Market Access in 2012 aimed at creating appropriate conditions for clients of the members of KASE to access the KASE trading system directly.
In addition KASE looks forward to continue its efforts in creating a solid user base for the FIX-gateway product it developed in the past year in order to improve the attractiveness of the Kazakhstani stock market for investors.
In terms of developing the existing derivatives market launched in December 2010, KASE plans to continue its development efforts in 2012 with introduction of single stock futures together with modified trading, clearing and settlement systems for the derivatives market.