Kazakhstan Stock market
The building of Kazakhstan Stock Exchange
The Kazakhstan Stock Exchange is a stock exchange located in Almaty, Kazakhstan. The exchange was founded in 1993.
On November 15, 1993, Kazakhstan introduced its own currency, the tenge. The next day, November 17, 1993, the National Bank of Kazakhstan and 23 local leading commercial banks took a decision to found a currency exchange. The previously existing Center for execution of inter-bank currency transactions (Currency exchange) used to be a structural unit of Kazakhstan's National Bank. The main task assigned to the new exchange was to set up and develop the national currency market following the introduction of the tenge. The exchange was incorporated as a closed joint-stock company on December 30, 1993 under the name Kazakhstan Inter-Bank Currency Exchange.
On March 3, 1994 the exchange was re-registered under the name Kazakhstan Interbank Currency Exchange due to the need to match the exchange's name to the current legislation.
On July 12, 1995 the exchange was re-registered under the name Kazakhstan Inter-Bank Currency and Stock Exchange following the shareholders' decision to let the exchange begin operating on the securities market. On October 2, 1995 the exchange obtained license No. 1 to carry stock exchange transactions, however this license only covered the right to operate trading in government securities only. On April 12, 1996 the exchange was re-registered under the name Kazakhstan Stock Exchange, since the current legislation banned the stock exchange from carrying out functions of a commodity exchange. On November 13, 1996 the exchange obtained an unlimited license to operate securities trading from the National Commission of the Republic of Kazakhstan on Securities.