(Vienna/Almaty) In the future Wiener Börse and the Kazakhstan Stock Exchange will work together: The President of the Kazakhstan Stock Exchange, Azamat Joldasbekov, and the joint CEOs of Wiener Börse, Michael Buhl and Heinrich Schaller, signed a Memorandum of Understanding to this effect in Vienna yesterday afternoon.
The Kazakhstan Stock Exchange was created in 1993 as a market for foreign exchange trading. It is seated in Almaty, the financial center of Kazakhstan, and is one of the emerging markets of the Asian region. Today, the Kazakhstan Stock Exchange is also a market for municipal and corporate bonds, stocks and derivative products. At present there are 107 companies listed on the Kazakhstan Stock Exchange. Since the end of 2006, market capitalization on the Kazakhstan Stock Exchange has risen sixfold to USD 67.4bn (as of the end of August 2007), and the average monthly trading volumes have risen from USD 83m to USD 696m.
The Kazakhstan Stock Exchange has joined the ranks of the numerous new cooperation partners of Wiener Börse: These include the exchanges of Banja Luka, Belgrade, Budapest, Bucharest, Podgorica, Sarajevo, Skopje, Sofia, Zagreb; the State Agency, the National Depositary and PFTS Exchange in the Ukraine as well as Shanghai and Dubai.