The main task assigned to the new exchange was to set up and develop the national currency market following the introduction of the tenge.

1 to carry stock exchange transactions, however this license only covered the right to operate trading in government securities only.

Since the new Act of the Republic of Kazakhstan "On Securities" dated March 5, 1997 restricted the stock exchange's operation to securities only, the general meeting of shareholders in April 1997 decided to reorganize it by making it separate closed joint-stock company Almaty Financial Instruments Exchange (AFINEX), which was registered on July 30, 1997.

With the Act of the Republic of Kazakhstan "On Making Changes and Additions to Some Legal Acts of the Republic of Kazakhstan Regarding Joint-Stock Companies" of July 10, 1998 coming into effect, the ban prohibiting the exchange to operate trading in foreign currencies and financial instruments other than securities, was lifted, which made it possible to affiliate the AFINEX to the exchange.

The relevant decision was taken at a general meeting of shareholders on January 6, 1999, and on March 16, 1999, an appropriate state re-registration of the reunited exchange was effected.

On December 15, 2006, KASE was authorized as a special trading floor of the regional financial center of Almaty.

Start of trading in Kazakh Eurobonds Launch of nego repo market Launch of auto repo market IPO of KazMunaiGas Exploration Production using KASE settlement system Commercialization of KASE Launch of currency swap transactions market Launch of a securities trading system based on T+0 (gross) settlements scheme with fully pre-positioned collateral Conducting of 17th General Assembly of Federation of Euro-Asian Stock Exchanges (FEAS) Signing of mutual co-operation memorandums with Korea Exchange, Istanbul Stock Exchange and Tehran Stock Exchange Creation of new multi-functional online trading system "STrade" Setting up of clearing department on KASE KASE obtains status of fully-fledged member in World Federation of Exchanges (WFE) Launch of yield indicators of currency swap transactions SWAP-1D and SWAP-2D Launch of the exchange market indicator of short money MM index KEGOC JSK IPO s part of the "People`s IPO" program The Exchange is a commercial organization operating as a joint-stock company.

49.1% of the total number of outstanding shares is held by the National Bank of the Republic of Kazakhstan in accordance with resolution No.

KASE's Articles of Incorporation stipulate a "golden share", which is held by the National Bank of the Republic of Kazakhstan.

Depending on the type of financial instruments an organization is interested to trade in, it can become a member of KASE's currency, stock or derivatives.

This sector features bonds issued by the Ministry of Finance and the National Bank of the Republic of Kazakhstan as well as by local executive authorities.

In recent years, there have been at least 200 government securities worth a total of about US$1.7 billion in constant circulation on KASE.

Today, this sector trades financial instruments of over 80 issuers, mainly stocks of local and foreign companies.

In order to increase the effectiveness of the stock market's settlement infrastructure and to attract foreign investors on to KASE, the Exchange is working along several lines.

One of the largest segments of KASE is the repo transactions market, which traditionally accounts for almost half of the total volume of exchange trading.

In the latter case, the question is about the anonymous trades using the order-driven market method in which Kazakhstan's tenge is offered, and the repo interest rate means the price.

In 2010, KASE instituted a reset of the derivatives market using a modern risk management system which meets international standards.

Limits were set for both open position and price change for the purpose of minimizing settlement risks.

The legislation of the Republic of Kazakhstan stipulates a system of tax benefits to attract investors to the organized securities market.

Composite index weighted by market capitalization which is calculated according to prices of transactions in the most liquid shares on KASE.

The indicators are calculated in real time upon the conclusion of each opening nego repo transaction in government securities.

In December 2011 KASE joined the agreement between Standard & Poor's Financial Services LLC ("S&P") and exchanges from member countries of the Organization of Islamic Cooperation.

According to requirements set by the authorized body, a permanent compliance control to detect insider deals, fraudulent transactions is carried out.