On October 10, 2018 KASE and MOEX signed an Agreement on strategic cooperation. The agreement provides for purchase of MOEX’s trade and clearing systems and acquisition of a stake in KASE by MOEX.
To attain targets set in the Agreement and increase revenues KASE and MOEX develop cooperation aimed at:
- provision of MOEX’s trade and clearing systems for purposes of increasing the efficiency of KASE’s markets, clearing, risk management and creation of new exchange instruments;
- launch of the CC on KASE’s stock market and money market, expanding the list of instruments and services being used;
- development of KASE markets, increasing the volume of exchange trading and extending the number of trading participants;
- provision of trading participants and investors with mutual access to exchange markets of KASE and MOEX, attracting international investors to exchange markets of KASE and MOEX;
- using MOEX’s experience with regard to KASE’s receiving the status of a public company and conducting of KASE shares IPO.
On January 29, 2019 the Exchange and MOEX concluded a deal on selling 32,360 shares of KASE as part of the implementation of the Agreement on strategic cooperation signed by the parties earlier. Based on results of the deal, MOEX’s stake in the Exchange made up 3.32% of outstanding shares.