ITS Exchange in Kazakhstan created its own indices
ITS Exchange in Kazakhstan created its own indices
21 August
International trading platform ITS, created by SPX Exchange and Freedom Holding within the framework of the International Financial Center "Astana" (IFCA), has started to publish values of its first own stock indices - ITS World Index and ITS Shariah Index.
The first index - ITS World Index - will become the main index of ITS stock exchange. It includes shares of 50 largest companies from USA, Europe and Asia, including Kazakhstan. Thus, among issuers, which are included in the index, American Apple, Microsoft, Alphabet, Amazon, Berkshire Hathaway, Tesla, Meta and NVIDIA, European AstraZeneca, Shell, Novartis, SAP, Asian Alibaba Group, Toyota, Sony, JD.com, Kazakhstan Kaspi.kz, KazMunayGas. Data on Kazakhstan securities were provided by Astana International Exchange (AIX). Share of top-10 securities in the index structure is 30%, share of top-20 securities is 50%, and concentration limit for each issuer is limited to 10%. ITS will review the calculation base of the ITS World Index and rebalance it once every three months (November 4, February 4, May 4, August 4). Index values will be updated in real time from 11:00 till 03:00 of the next day Astana time - during the trading hours at ITS. An important condition for inclusion of a security in the index is its high liquidity, which ensures replicability of the index. ITS Shariah Index was created jointly with an independent Shariah expert - Sahih Invest. The index includes shares of 30 major Shariah compliant companies that are traded on ITS. The methodology of company analysis was developed in accordance with AAOIFI and DFM standards and accredited by the Ulema Council of the Spiritual Administration of Muslims of the Republic of Tatarstan. The top-10 composition of the ITS Shariah Index includes securities of Tesla, Visa, Exxon Mobil, Amazon, Johnson & Johnson, The Procter & Gamble, Chevron, Merck & Co, Adobe and Salesforce, Cisco. ITS will review the Index calculation base and rebalance the Index once a month - on the 4th of the month. Index values will be updated in real time from 11:00 to 03:00 of the next day Astana time - during trading hours on ITS.
As ITS managing director Alexander Diakovskiy noted, the Exchange together with the participants of the financial market of Kazakhstan and with the support of IFCA has already started working on creation of exchange-traded funds on its indexes. "The launch of ITS indices should be an important step towards creating in IFCA a center of the modern exchange-traded fund (ETF) industry for the whole of Central Asia," he says.
The ITS trading platform was created by Timur Turlov's Freedom Holding and SPB Exchange, which each got 10% in it. The main shareholder of ITS (80% of the capital) is a non-profit organization Foundation for the Support and Development of International Financial Center.
The volume of trades in shares and depositary receipts on ITS at the end of July amounted to $15 mln, which is 26.5% more than in June 2023 ($11.9 mln). The total number of transactions with shares and depositary receipts of international companies amounted to 10.2 thousand. The top 10 leaders in terms of trading volume included shares of Marathon Digital Holdings, Riot Platforms, Cassava Sciences, MicroStrategy Incorporated, Sealed Air Corporation, Alexandria Real Estate Equities, Vir Biotechnology, CleanSpark, Coinbase, Axsome Therapeutics. Trades and settlements on securities transactions are made in US dollars.
Source: Rambler
The first index - ITS World Index - will become the main index of ITS stock exchange. It includes shares of 50 largest companies from USA, Europe and Asia, including Kazakhstan. Thus, among issuers, which are included in the index, American Apple, Microsoft, Alphabet, Amazon, Berkshire Hathaway, Tesla, Meta and NVIDIA, European AstraZeneca, Shell, Novartis, SAP, Asian Alibaba Group, Toyota, Sony, JD.com, Kazakhstan Kaspi.kz, KazMunayGas. Data on Kazakhstan securities were provided by Astana International Exchange (AIX). Share of top-10 securities in the index structure is 30%, share of top-20 securities is 50%, and concentration limit for each issuer is limited to 10%. ITS will review the calculation base of the ITS World Index and rebalance it once every three months (November 4, February 4, May 4, August 4). Index values will be updated in real time from 11:00 till 03:00 of the next day Astana time - during the trading hours at ITS. An important condition for inclusion of a security in the index is its high liquidity, which ensures replicability of the index. ITS Shariah Index was created jointly with an independent Shariah expert - Sahih Invest. The index includes shares of 30 major Shariah compliant companies that are traded on ITS. The methodology of company analysis was developed in accordance with AAOIFI and DFM standards and accredited by the Ulema Council of the Spiritual Administration of Muslims of the Republic of Tatarstan. The top-10 composition of the ITS Shariah Index includes securities of Tesla, Visa, Exxon Mobil, Amazon, Johnson & Johnson, The Procter & Gamble, Chevron, Merck & Co, Adobe and Salesforce, Cisco. ITS will review the Index calculation base and rebalance the Index once a month - on the 4th of the month. Index values will be updated in real time from 11:00 to 03:00 of the next day Astana time - during trading hours on ITS.
As ITS managing director Alexander Diakovskiy noted, the Exchange together with the participants of the financial market of Kazakhstan and with the support of IFCA has already started working on creation of exchange-traded funds on its indexes. "The launch of ITS indices should be an important step towards creating in IFCA a center of the modern exchange-traded fund (ETF) industry for the whole of Central Asia," he says.
The ITS trading platform was created by Timur Turlov's Freedom Holding and SPB Exchange, which each got 10% in it. The main shareholder of ITS (80% of the capital) is a non-profit organization Foundation for the Support and Development of International Financial Center.
The volume of trades in shares and depositary receipts on ITS at the end of July amounted to $15 mln, which is 26.5% more than in June 2023 ($11.9 mln). The total number of transactions with shares and depositary receipts of international companies amounted to 10.2 thousand. The top 10 leaders in terms of trading volume included shares of Marathon Digital Holdings, Riot Platforms, Cassava Sciences, MicroStrategy Incorporated, Sealed Air Corporation, Alexandria Real Estate Equities, Vir Biotechnology, CleanSpark, Coinbase, Axsome Therapeutics. Trades and settlements on securities transactions are made in US dollars.
Source: Rambler
