Baku, Azerbaijan, Nov. 24
By Nigar Guliyeva – Trend:
Brokers in Kazakhstan may be allowed to trade in currency starting from 2018, Chairman of Kazakh Stock Exchange (KASE) board Alina Aldabergen said.
The work is underway to expand the number of participants in the foreign exchange market, Kazinform reported citing Aldabergen.
"Currently, only second-tier banks, which have a license for exchange transactions, have access to it. Together with the National Bank, we are considering expanding the number of participants and including professional brokers so that they can also trade in currencies to meet the needs of their customers. We expect that these will be individuals. We hope that next year we will be able to arrange the admission of brokers," said Aldabergen.
She added that legal entities have access to purchase of securities, but they are not actively using this opportunity.
"Our companies can trade through banks or brokers, there is such an opportunity, for example in the securities market, when they are granted remote access, but now this practice is not developed in our market," Aldabergen said.
The Kazakhstan Stock Exchange (KASE) is the leading stock exchange in the Central Asian region and the only stock exchange in Kazakhstan that operates in the financial market.