Newsletter December 2019, Issue 4 - Page 8

As a part of the 7th Congress of Financiers, the National Bank of Kazakhstan and Kazakh Association of Financiers organized the Kazakhstan Exchange Forum at the Kazakhstan Stock Exchange (KASE). The event marked KASE’s 25th anniversary in Almaty.

The forum, on the subject of “The role of stock exchanges in sustainable development of the economy,” discussed the stock market, with emphasis on the Central Asian region. It covered issues of financing the economy through stock market tools, developing exchange infrastructure and promoting exchange instruments, as well as the financial market’s integration process, changing market landscape and financial services in the context of introducing digital technologies.

FEAS Members, other foreign stock exchanges, heads of Kazakh financial organizations, investment banks, government agencies, national and private Kazakh companies, representatives of Kazakh and international professional financial associations and international experts participated in the forum.

In honour of its anniversary, the exchange also held a series of KASE Talks to offer awareness about the Kazakh financial market and the main factors affecting its development to a wider audience.

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Bucharest Stock Exchange: Historic moment. Romania is promoted to Emerging Market Status

Romania is promoted to Emerging Market from Frontier Market status, the global index provider FTSE Russell announced on September 26 this year. The reclassification from Frontier to Emerging status will

become effective in September next year.

It’s a historic moment for Romania, which had its stock exchange closed during the communist regime and had it reopened for nearly half a century later. When the market reopened in November 1995, it started with 6 companies. Now, the Bucharest Stock Exchange (BVB) has 84 companies listed on the Main Market alone, with a combined capitalization of EUR 36 billion.

"The Romanian capital market had many obstacles to overcome and it took a long way to get us here. Just think about it: six years ago, we did not even have simultaneous English reporting for listed companies, so foreign investors found it difficult to clearly understand what happened in the market. Now we have in place new and improved market mechanisms, easier access into the market for investors, supportive fiscal environment for institutional investors, transparent and qualitative corporate reporting of issuers, availability of capital market information flow and legislation in English, competitive trading framework, improved corporate governance for listed companies. This new environment has attracted in the recent years new private listings for equities and bonds", said Lucian Anghel, President of the Board at BVB.

A memorandum of understanding was signed between Tehran and Shanghai stock exchanges

The signing ceremony was held in China.

Both parties' officials convened in SSE's premises and signed the documents, aiming to exchange experience, holding training courses, and cooperation on foreign investment schemes, as well as new instruments initiatives and improving markets' infrastructures among several other issues.

The Iranian delegates also had meetings with different departments of SSE, and China Securities Depository and Clearing (CSDC) to be informed about their operations and reviewing areas of mutual interest.

The Chinese counterparts have been invited to a reciprocal visit to Tehran in order to start implementing the business cooperation.

training courses, and cooperation on foreign investment schemes, as well as new instruments initiatives and improving markets' infrastructures among several other issues.

The Iranian delegates also had meetings with different departments of SSE, and China Securities Depository and Clearing (CSDC) to be informed about their operations and reviewing areas of mutual interest.

The Chinese counterparts have been invited to a reciprocal visit to Tehran in order to start implementing the business cooperation.

For this occasion, Vahan Stepanyan, CEO of Central Depository of Armenia, said, “Signing the memorandum of cooperation is a starting point for the development of further relationships between EEC and AECSD. Partnership on common projects will bring more investment on integration processes of the Eurasian economic region.”

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