- Astana International Exchange is a new stock exchange in Kazakhstan established by Astana International Financial Centre in partnership with Shanghai Stock Exchange and Nasdaq
- AIFC engages Exactpro for functional and non-functional testing of the new Exchange’s platform
Exactpro Systems today announces that it was engaged by Astana International Financial Centre (AIFC) to deliver functional and non-functional testing for Astana International Exchange (AIX), the nascent new high-tech exchange platform in Kazakhstan. The new exchange was created within the AIFC in cooperation with a shareholder and strategic partner from among the leading stock exchanges - Shanghai Stock Exchange (SSE). AIX is based on best international practice and powered by Nasdaq Matching Engine under a technology deal between the AIFC and Nasdaq.
Kazakhstan’s largest companies turn to international capital markets to meet their financing needs. With rapid economic growth and a highly attractive pipeline of IPOs/SPOs in the Central Asia, there is an increasing need for a liquid, well-balanced and efficient regional stock market with a broad range of financial instruments whose successful implementation is crucial for the AIFC.
Exactpro specializes in quality assurance and software testing for market infrastructures and systems that process wholesale financial products across asset classes. This includes trading systems, risk management, market surveillance, securities data distribution, and post-trade platforms worldwide.
About Astana International Financial Centre
In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law "On the Astana International Financial Centre" (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in post-Soviet region Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, to develop local capital markets, to ensure their integration with the international capital market, and to develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.
Exactpro is a specialist firm currently employing over 560 staff focused on functional and non-functional testing and software development of systems that process wholesale financial products across many asset classes, such as trading and clearing systems, risk management, market surveillance, securities data distribution and post trade infrastructures. These services are offered to exchanges, investment banks, brokers, technology firms and other financial sector organisations worldwide. Exactpro is an independent company owned by its management team following the recent buyout from the London Stock Exchange Group.