AIX reports fivefold increase in trading, overshadowing 2023 results

The trading volume on the AIX grew to $707 million in the first half of the year / Collage by Kursiv.media, photo editor: Arthur Aleskerov

According to the Astana International Exchange (AIX), its aggregated trading volume increased from $140 million to $707 million from January to June 2024, marking a 21.4% increase compared to all of 2023 ($582 million).

«During the first six months of the year, the AIX proved itself as one of the most rapidly growing exchanges in the region and the frontier market category, achieving significant success in all facets of its business, including trading volume, the number of offerings and new members joining the platform,» the AIX said in a statement.

Currently, there are 184 securities from 111 issuers on the exchange. Since 2018, when trading on the AIX started, the platform has raised $4.5 billion in debt capital and $471 million in share capital.

The volume of trading in debt instruments surged by 3.5 times in the first half of the year, increasing from $86 million to $308 million compared to the same period last year. From January to June 2024, there were 44 new listings on the AIX, including 39 placements of debt instruments by a wide range of issuers such as large private companies, quasi-state organizations and supranational financial institutions. As a result, they have raised $245 million.

As of July 1, 57 companies were registered as trading members of the exchange; 27 were foreign companies from Europe, Armenia, China and some Arab states. In 2024, ten new brokerage companies and custodians joined the AIX and its Central Securities Depository (AIX CSD), bringing the number of investment accounts in AIX CSD to 1.75 million.

The AIX Qazaq Index rose by 10.2% from early January 2024, hitting a record 1,367.57 points in late May. As of July 5, the index stood at 1,361.74 points, a 0.6% increase over the prior trading day. In the first half of the year, the index was expanded to include KEGOC and Air Astana, bringing the total number of companies in the index to 12. The trading volume of exchange-traded notes linked to the index amounted to $60,000.

In April, AIX officially joined the Tabadul Digital Hub, established by the Abu Dhabi Exchange for interexchange trade. Two brokers from Kazakhstan – Freedom Finance Global and Halyk Finance – represent the country in the hub. In turn, BHM Capital and International Securities (IS) have joined AIX as trading members of the ADX through the Tabadul Hub.

AIX was established in 2017 within the jurisdiction of the Astana International Financial Center (AIFC). Among the shareholders of the exchange are the AIFC, the Shanghai Stock Exchange, the Silk Road Fund and Nasdaq, which provides AIX with necessary trading technologies. The exchange operates in a legal environment based on the principles of English Law.