ASTANA – Astana International Exchange (AIX) is preparing to launch post-trade market services provided by Avenir Technology Limited. The technology, used worldwide, will ensure a safe and reliable post-trading infrastructure for the exchange.
“The Astana International Exchange will be an efficient, globally supported exchange platform for both Kazakhstan and the neighbouring countries. To ensure safe and reliable post-trading infrastructure we needed a professional provider of sophisticated technologies that could be tailored to meet our requirements. We are glad that in partnership with an experienced supplier of technologies for exchanges we are ready to start operations on AIX,” said AIX CEO Tim Bennett.
Avenir Technology is a global supplier of post-trade solutions. The five-year deal between the company and the exchange covers not only central security depository (CSD), but registry instances of the Avenir suite. AIX just finished the roll-out of the production version of the applications and all ten AIX CSD participants are now connected to the Avenir platform, which also offers integrated SWIFT messaging capabilities.
Extensive testing has also been completed, including three full loop dress rehearsals involving all market participants, as well as third party user acceptance testing (UAT) conducted by Exactpro.
“Over the last four years, we have been working extensively in emerging markets across the globe to provide them with next generation financial market infrastructure solutions. We are delighted to have been awarded these contracts in Kazakhstan, adding to our existing portfolio of business,” said Avenir co-founder and director Martyn Bain.
Founded in 2014, Avenir provides a range of financial market infrastructure solutions, operating with a growing number of clients located in both mature and emerging markets.
Astana International Financial Centre (AIFC) was established on the initiative of Kazakh President Nursultan Nazarbayev in 2015 after his approval of the centre’s constitutional statute. It is establishing a leading international centre for financial services, attracting investments and creating an attractive environment for financial services investments.
AIX was formed this year as part and parcel of the centre’s development. The exchange’s shareholders are AIFC, Goldman Sachs, NASDAQ, Shanghai Stock Exchange and Silk Road Fund.