FEAS Yearbook 2025 FEAS Yearbook 2025 | Page 82

The Federation of Euro-Asian Capital Markets

Established: 2023

Address: 010016, 16, Dostyk st., office 2, Astana, Kazakhstan

Contact Name: Lyudmila Poliyenko-Shelepova

Email: [e-mail]

Website: www.itsx.kz

- Joined FEAS in 2024-

About Company

Chingiz Kanapyanov

Chief Executive Officer

Year in review

2025 was a breakthrough year for ITS, in numbers as well as infrastructure. Total trading volume exceeded $14 billion, 70 times the 2024 figure. The number of investors with access to the platform reached 1.2 million, and the volume of assets held in the ITS CSD depository surpassed $4 billion. This is a result that, just two years ago, seemed like a distant horizon, not a mere stepping stone along the way.

Compared with 2024, the difference is substantial. Back then, we were just finishing building our own clearing and settlement infrastructure after a forced pause. 2025 marks the first full year of ITS’s full operation: with our own infrastructure, a growing team, and an expanding product line.

The year’s main challenges included scaling the operating model amid explosive growth in workload and the simultaneous launch of several fundamentally new products. In January, together with IPS Capital, we launched the region’s first Shariah-compliant ETF, ITS Shariah (ITSS). In September, also with IPS Capital, we launched our Single Stock ETF, the first such instrument in Kazakhstan. In April, ITS joined the International Capital Market Association (ICMA), confirming our compliance with global standards. Each of these steps required not only technical but also significant regulatory and partnership work.

Our 2025 goals have been achieved. We planned to reach a sustainable monthly turnover of $1 billion, and we achieved that level starting in March. October, a record month, brought in $1.82 billion. The ITS World Index has grown 25.6% year-on-year, outperforming the S&P 500 and Nasdaq. New participants, new jurisdictions and new instruments are on the horizon.

The 2025 results are a confirmation that international investors are willing to work with next-generation infrastructure if it provides reliability, transparency and real access to global liquidity. This is precisely what we are building at ITS.

Event of the year: The launch of a unique line of exchange-traded instruments in partnership with IPS Capital: the region’s first Shariah-compliant ETF, ITS Shariah (ITSS), our Single Stock ETF based on shares of seven leading U.S. companies (the first such instrument in Kazakhstan), and our ITS Dollar Liquidity (ITSD) money market fund. All of these instruments were developed in collaboration with ITS and are traded in U.S. dollars.

International Trading Systems

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