London Stock Exchange Group signs MoU with Kazakhstan Stock Exchange

  • First MoU between LSEG and KASE
  • Strengthens economic relationship between the UK and Central Asia’s emerging economies
  • Signing ceremony part of second UK-Kazakh Intergovernmental Commission meeting attended by Kazakhstan President, Nursultan Nazarbayev and UK Prime Minister, David Cameron
  • Signing witnessed by The Rt Hon Lord Maude, British Minister of State for Trade and Investment and Minister Issekeshev, Ministry of Investments and Development, Republic of Kazakhstan

London Stock Exchange Group (LSEG) today signed a Memorandum of Understanding (MoU) with JSC Kazakhstan Stock Exchange (KASE), the first ever between the two exchanges.

The agreement, signed by Nikhil Rathi, CEO, LSE plc and Yeszhan Birtanov, CEO, JSC Kazakhstan Stock Exchange, will see both organisations work closely together to expand on listing opportunities for Kazakh companies in London and the Republic of Kazakhstan (Kazakhstan), as well as help deepen relationships with key stakeholders in the UK and Kazakhstan. 

The signing ceremony, part of the second UK-Kazakh Intergovernmental Commission meeting attended by Kazakhstan President, Nursultan Nazarbayev and UK Prime Minister, David Cameron, took place in front of The Rt Hon Lord Maude, British Minister of State for Trade and Investment and Minister Issekeshev, Ministry of Investments and Development, Republic of Kazakhstan. The agreement further strengthens financial ties between London and Kazakhstan.

The MoU outlines several areas for closer collaboration with a particular focus on promoting dual listings of Kazakh companies in Kazakhstan and London, facilitating access to capital for Kazakh companies through London Stock Exchange. Both exchanges will also explore the development of new products and support investor education and awareness programmes in Kazakhstan and the UK.

Nikhil Rathi, CEO, London Stock Exchange plc & Director of International Business Development, said:
“The MoU signed between Kazakhstan Stock Exchange and London Stock Exchange Group heralds an exciting new chapter for Kazakhstan’s capital markets and we are delighted to have been chosen to support KASE in its expansion plans.

“With 17 Kazakh companies already listed in London, the agreement holds huge potential for future business opportunities between our two exchanges and reinforces London’s position as the leading market place for global business. It also reflects LSEG’s commitment to an open access approach, supporting KASE, as it delivers on its ambition to become a major regional financial centre.”

Yeszhan Birtanov, CEO of JSC Kazakhstan Stock Exchange said:
“KASE recognizes LSEG as one of the leading stock exchanges in the world. Closer connections and cooperation between both of our exchanges will support the sustainable development of KASE in light of the upcoming focus on the International Financial Center in Astana”.

London Stock Exchange Group has a long history of supporting the development of emerging market exchanges. In the past 12 months we have partnered with Borsa Istanbul, the Casablanca Stock Exchange and Mongolia Stock Exchange, supporting them in a variety of expansion plans across the full exchange business chain, including listing, trading, technology and clearing. 

Through our technology arm, MillenniumIT, we provide state-of-the-art technology to help jump-start development and attract institutional investors to emerging markets. Recently both the Indian and Lima stock exchanges have selected MillenniumIT to power their markets.

There are currently 17 Kazakh companies listed in London, by primary country of operation, with a combined market capitalisation of $9.6 billion. 10 are listed on the Main Market and seven are quoted on AIM.

Since 2005, Kazakh companies have raised $5.9 billion on London’s markets. The last Kazakh company to list in London was KCELL, Kazakhstan’s leading provider of mobile telecommunications services. The company listed on both KASE and London Stock Exchange’s Main Market in December 2012, raising $525 million, with a market capitalisation of $2.1 billion.

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For further information:

Media
Alexandra Ritterman
+44 (0)20 7797 1222
newsroom@lseg.com

Notes to editors:

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is a diversified international market infrastructure and capital markets business sitting at the heart of the world's financial community. The Group can trace its history back to 1698.

The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, a pan-European equities MTF. It is also home to one of the world’s leading growth markets for SMEs, AIM. Through its platforms, the Group offers international business and investors unrivalled access to Europe's capital markets.

Post trade and risk management services are a significant part of the Group’s business operations. In addition to majority ownership of multi-asset global CCP operator, LCH.Clearnet Group, LSEG operates CC&G, the Italian clearing house; Monte Titoli, the T2S-ready European settlement business; and globeSettle, the Group’s newly established CSD based in Luxembourg.

The Group is a global leader in indexing and analytic solutions. FTSE Russell offers thousands of indexes that measure and benchmark markets around the world.  The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, and RNS.

London Stock Exchange Group is a leading developer of high performance trading platforms and capital markets software for customers around the world. In addition to the Group’s own markets, over 35 other organisations and exchanges use the Group’s MillenniumIT trading, surveillance and post trade technology.

Headquartered in London, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,700 people

Further information on London Stock Exchange Group can be found at www.lseg.com