Baku, Azerbaijan, Jan. 16
By Nigar Guliyeva – Trend:
The National Bank of Kazakhstan together with the post-trade services provider Clearstream Banking S.A. Luxembourg launched a project to include state securities, including short-term notes of the National Bank, into the list of securities calculated in the Clearstream system.
The National Bank of Kazakhstan said on Jan. 16 that the implementation of the joint project will allow to perform calculations or settlement of all state securities issued under the Kazakh legislation in tenge through the Clearstream international clearing system and will expand the access of foreign investors to Kazakhstan's stock market.
"Entering Clearstream will help increase the demand by foreign investors in Kazakhstan's state bonds, increase their liquidity and attractiveness in the foreign market. The launch of the system for performing calculations through Clearstream will expand the sources for long-term funding, reduce the cost of borrowing for state, positively impact the yield curve and further development of the Kazakh market of securities," the bank said.
Realization of the project will significantly increase the openness of the Kazakh market for global investors thanks to improved mobility of financial flows and will provide foreign investors with new opportunities in Kazakhstan.
The project is expected to be launched at the end of the first half of 2018.
