KazPost to facilitate trading on ITS

The national postal services operator KazPost has obtained the status of a trading participant on the International Trading System (ITS), as reported by the platform. From now on, KazPost’s clients will be able to buy and sell securities traded on ITS.

Under the arrangement, KazPost will act as a broker. The company already holds brokerage, banking and dealer licenses with the right of nominee holder, along with a license for transfer-agent services.

KazPost has been offering services for cashing out fiat money from crypto wallets and depositing money into them within the jurisdiction of the Astana International Financial Centre (AIFC). Kazakhstani investors can use these funds to buy digital assets, including cryptocurrency.

«Entering ITS opens new perspectives for offering services to corporate and retail customers, optimizing financial flows and strengthening our position in the stock market,» said KazPost CEO Assel Zhanassova.

According to ITS, the postal operator runs the largest network of branch offices in the country (3,800 as of 2020), providing broader access to trading in international securities and Exchange-Traded Funds (ETFs) on ITS. A trading session on the platform lasts from 10:00 a.m. to 3:45 a.m. Astana time.

ITS is a trading platform for stock exchange assets. It was established based on AIFC infrastructure. The only key distinction from a traditional stock exchange is that ITS cannot organize initial public offerings. However, it offers popular stocks such as Tesla, NVIDIA, Apple, Coinbase, Advanced Micro Devices, Amazon, Microsoft, Netflix, Carnival, Moderna, Qualcomm, MicroStrategy, Virgin Galactic and Block.

Currently, the platform is controlled by Freedom Kazakhstan Ltd., the Foundation for the Support and Development of the International Financial Centre, AIFC Markets Limited and Roman Goryunov, a former head of Russia’s SPB Exchange.

In April, ITS reported a 27% decline in its monthly trade volume to $955 million, breaking a multi-month streak of record-high trading activity. According to ITS, the change was driven by shifting sentiment in the global financial markets.