Kazakhstan's Exchange Deploys Avenir's Post-Trade Technology

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

Astana International Exchange AIX

Kazakhstan’s Exchange Deploys Avenir’s Post-Trade Technology

November 2, 2018
Martyn Bain, co-founder and director of Avenir
Martyn Bain, co-founder and director of Avenir

Post-trade Infrastructure solutions developer Avenir Technology Limited has partnered with the Astana International Exchange (AIX) in Kazakhstan to provide support for securities registry, Central Securities Depository (CSD), and FIX trading and post-trade SWIFT messaging.

The exchange located in the Astana International Financial Centre (AIFC), has completed the roll-out of the production versions of the Avenir applications and ten AIX CSD participants are already connected to the Avenir platform.

Avenir will also serve as a consultant on the design of the market’s infrastructure, as well as technically supporting the Registry, CSD and connection to NASDAQ for the first five years. NASDAQ powers the AIFC Exchange since late 2017 with its Matching Engine, the most widely-used matching engine in the world.

Martyn Bain, co-founder and director of Avenir, commented: “Over the last 4 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.”

Tim Bennett, CEO of AIX
Tim Bennett, CEO of AIX

Tim Bennett, CEO of AIX, commented: “The Astana International Exchange will be an efficient, globally supported exchange platform for both Kazakhstan and the neighboring 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.”

Founded in 2014, Avenir started out by delivering a warehouse receipt system for the storage, financing, and trading of commodities, and has grown to a financial market infrastructure solutions provider which operates with a growing number of clients located in both mature and emerging markets across the globe. Avenir helps market operators and participants to better manage risk, handle settlement and record securities market transactions.

The Astana International Exchange (AIX) is a regional platform to attract investment to Kazakhstan and the Central Asian Region in order to enable domestic and regional development, through the mobilization of domestic resources and foreign portfolio flows. Formed in 2018 as part of the Astana International Financial Centre, the exchange is owned by AIFC, Goldman Sachs, Shanghai Stock Exchange, the Silk Road Fund and NASDAQ.

Login To MyTis Comment Or Register to MyTIS

Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x