AIX Issues an Exchange-Traded Note That Follows NASDAQ Index

Today on May 18, Astana International Exchange has announced the listing of a new exchange-traded note called iX NASDAQ 100 Equities. The note tracks the NASDAQ 100 Index, which includes shares of such tech giants as Apple, Microsoft, Google, Amazon and Tesla. 

According to the exchange, iX NASDAQ 100 Equities note is linked to the performance of the exchange-traded fund Invesco QQQ Shares. Raiffeisenbank will serve as a custodian bank while CROWE Kazakhstan will serve as an auditor.

Exchange-traded notes (ETNs), which are types of unsecured debt securities that track an underlying index of securities and trade on a major exchange like a stock, are relatively new financial instruments for Kazakhstan. ETNs are similar to bonds but do not have interest payments. Instead, the prices of ETNs fluctuate like stocks.

This exchange-traded note becomes the 12th AIX note and 10th note, which are available for individual investors with help of the Tabys service. By doing so, the exchange helps increase the number of retail investors in Kazakhstan, according to Tim Bennet.

«AIX continues to expand its range of securities for the local retail investors to enable them to invest in various indices and asset classes. By listing iX NASDAQ 100 Equities ETNs, AIX is following its commitment to develop the local retail investors base,» he said.