On October 2, 1995 the Kazakhstan Stock Exchange received the license to conduct stock exchange activities on the securities market.
First trades in government securities were held on the exchange on November 14, 1995. At that time, for various reasons, the share of the government securities market was small, trading government bonds were episodic and irregular, and a year later – on September 20, 1996 the exchange had to interrupt trading these securities. In 1997 government securities were not traded. The activation of the exchange market of the government securities began in late 1998, which was facilitated by the launch of the accumulative pension system in Kazakhstan. At the same time, government securities were placed over the counter by the National Bank.
Since the beginning of 2005, all GS of the Ministry of Finance of Kazakhstan (MEKAM) are offered via such auctions. The National Bank still offers notes via its own auctions, and employs KASE only for the early redemption of these securities.