KASE Announces Opening Of Correspondent Account In Chinese Yuan
Kazakhstan Stock Exchange (KASE or the Exchange) announces the opening of the Exchange’s CNY correspondent account with Industrial and Commercial Bank of China in Almaty JSC to settle the currency pair CNY/KZT stock trading, in ddition to the existing CNY correspondent account with Subsidiary Bank “Bank of China in Kazakhstan” JSC.
Bank details: correspondent account No. KZ809300001000011183 with JSC
“Industrial and Commercial Bank of China in Almaty city”, SWIFT: ICBKKZKX.
The new Exchange’s CNY correspondent account will be activated for the trading
settlements on the October 18, 2016.
The list of correspondent accounts of the Exchange was published on KASE
We remind you that only the trading participants with the CNY correspondent
accounts held with the same correspondent banks, the Exchange opened
correspondent accounts with, are admitted to CNY/KZT trading. So now, as of
October 18, 2016, those members of the Exchange who opened CNY
correspondent accounts with Industrial and Commercial Bank of China in Almaty
will be able to participate in the Chinese yuan trading.
The currency pair CNY/KZT (CNYKZT_TOD) was first traded on September 25,
2014. SB Bank of China in Kazakhstan JSC, SB Sberbank of Russia JSC,
Industrial and Commercial Bank of China in Almaty JSC and Halyk Savings Bank
of Kazakhstan JSC are CNY market makers on KASE.
In 9M 2016 the total trading volume on the Exchange amounted to CNY57.5 m,
which is a 48% growth as compared to the last year. An absolute daily CNY/KZT
trading record made CNY3.8 m (August 27, 2015).