Raiffeisenbank to Participate in Forex Trading on KASE

Raiffeisenbank, a Russian subsidiary of Austrian Raiffeisen Zentralbank is set to participate in foreign exchange trading on the Kazakhstan Stock Exchange (KASE) starting August 31.  

«Joint Stock Company Raiffeisenbank will be able to take part in the trading of derivatives admitted to circulation on the currency market and USD/KZT futures,» the official statement of KASE said. 

In addition, since August 27, the bank has had the status of a clearing member of the currency market.

On March 19, Joint Stock Company Raiffeisenbank was admitted as a foreign member of KASE.

The bank has decided to start its operation on Kazakhstan’s stock market due to rising interest in KZT from its clients and on the entire market.

«We’ve been working with the vast majority of Kazakhstani banks on the OTC market. Therefore, we’ve decided to go further with our business on Kazakhstan’s stock market and get the KASE membership. Now we are going to make our contribution to its growth and development,» Raiffeisenbank told the Kursiv edition.

Among other foreign members of KASE are UNIVER Capital (stock market and market of derivatives), Freedom Finance Investment Company (stock market), and Interstate Bank (currency market).