DUSHANBE, October 12, 2015, Asia-Plus — The first primary equity market has been launched in Tajikistan.
An official opening of Central Asian Stock Exchange (CASE) took place in Dushanbe on October 12.
Speaking at the inaugurating ceremony, Tajik Deputy Prime Minister, Davlat Said, said the legal foundation for creation of equity markets in Tajikistan was laid in 1992.
“CASE will create a platform for both domestic and foreign companies to invest in the real sector of Tajikistan’s economy through selling and buying equities of Tajik companies,” Tajik deputy prime minister noted.
He further added that participants in the equity transactions would be exempted from paying taxes during five years.
We will recall that Global Markets Exchange Group (GMEX) in mid-September announced partnership with CASE through its affiliate GMEX Technologies (GMEX Tech).
CASE representatives note that partnership with GMEX Tech will speed up functioning of the first integrated stock, clearing system and central settlement depository Tajikistan.
Mr. Hirander Misra, Director General and Co-Founder of GMEX Group, noted that cooperation between CASE and GMEX Tech would allow Tajikistan ensuring function of a first-class stock exchange, clearing organization and central settlement depository.
Central Asian Stock Exchange (CASE) is a new financial institute functioning in the Republic of Tajikistan. CASE was established in April 2015 as a unique platform for organized securities trading. CASE has partnered with GMEX Technologies Limited (part of the GMEX Group), a leading provider of multi-asset exchange and post-trade technology through a business enabled partnership approach. One of the main shareholders of GMEX Group is Deutsche Borse AG which is a leading stock exchange in Europe.
The main objectives of CASE include: formation of a friendly, transparent and reliable investment environment for local and foreign investors; creation of opportunities for additional investment attraction on more favorable conditions in the short- and long- terms; and provision of the advanced equipment for professional securities traders.
GMEX Group is a set of companies that offer sustainable and innovative solutions for the new era of global financial markets, encompassing: operation of an exchange for the trading of a Constant Maturity Future for Interest Rate Swaps; development of related new tradable market and product indices; creation and operation of low cost electronic exchanges in equities, debt, FX, derivatives and commodities in developing and, in a targeted way, developed markets; interconnectivity of exchanges to each other creating a global network of liquidity; business development to enhance liquidity in partner exchange products; consultancy on exchange strategy, product development, clearing and regulation; and Provision of exchange, clearing house and depository platform technology.
