First 8 trading members accredited at AIFC's AIX Exchange
ASTANA. KAZINFORM - The first trading members have been recognized by the financial services regulator of the AIFC (the Astana Financial Services Authority) and are undergoing the accreditation procedure at the Astana International Exchange (AIX) of the Astana International Financial Centre, Kazinform correspondent reports with reference to AIFC Governor Kairat Kelimbetov.
The official opening of the Astana International Financial Centre (AIFC) will be held on July 5 within the framework of the celebrations for the 20th Anniversary of the capital.
"AIFC, just as the project of Astana, was initiated by the Head of State. These projects are similar in many respects. The idea to relocate the capital from Almaty to Astana initially faced strong skepticism. 20 years later, we see a flawless overwhelming victory of the Head of State's plan. It's enough to look out of the window to see it. We make every effort to ensure that years later, the AIFC will replicate the success of Astana. Close cooperation between the AIFC and the Astana Mayor's Office in creating a unique international brand will ensure the inward investment both into the city and the country as a whole," Kelimbetov said.
The AIFC Governor said that making legislation, AIFC relied on the standards and principles approved by international organizations such as IOSCO (International Organization of Securities Commissions), BCBS (Basel Committee on Banking Supervision), IFSB (Islamic Financial Services Board).
"Among other things, these standards set requirements for ensuring the efficiency and transparency of the capital market, as well as minimizing the systemic risk. The Committee is also exploring the fundamentals of the European model established in line with the Markets in Financial Instruments Directive (MiFID), the key aspects of the UK's legal frameworks, the Dubai International Financial Centre (DIFC), Abu Dhabi Global Market (ADGM), and the Qatar Financial Centre (QFC)," the speaker underlined.
He also informed that the first 8 trading members have already been recognized by the AIFC's Astana Financial Services Authority (AFSA) and are undergoing accreditation at the AIFC's Exchange (AIX). "They include top Kazakhstani and Chinese brokerage companies. The real-time testing of these brokerage companies' trading operations is being conducted on the high-tech exchange platform of our center. The AIFC's Exchange is fully ready for trading operations with Kazakhstani and international brokerage companies," Kairat Kelimbetov said.