FTSE Russell has added the Astana International Exchange (AIX) as an eligible trading marketplace within the Ground Rules of the FTSE Frontier Index Series.
FTSE Frontier Index Series is a set of benchmarks designed to make eligible those trading platforms across Europe, North and South America, Asia-Pacific, Africa and the Middle East. Usually, FTSE Frontier indices are calculated based on their pricing strategies and overall performance.
Securities listed on the AIX will be assessed for potential index inclusion at the annual review of the FTSE Frontier Index Series in September 2020. At the same time, AIX will officially appear in the list of FTSE Frontier Index Series.
The AIX’s recognition as an eligible trading venue ensures that the Exchange’s infrastructure and liquidity pool will be factored into the overall score, which determines Kazakhstan’s rated position on the FTSE Frontier Index. The addition of the AIX will also boost the country’s medium-term objective of achieving Secondary Emerging Market status the AIX press services reported.
As of July 31, 2020, the market capitalization of the FTSE Frontier Index was $84.9 billion. The current weighted position of Kazakhstan across all constituents in the FTSE Frontier Index is 1.79% ($1.5 billion).
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai Stock Exchange, the Silk Road Fund and NASDAQ, which also functions as the AIX trading platform. The exchange operates within a regulatory environment congruent with that of the London Stock Exchange Group.
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