JUNE 2013 - FEAS

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FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT JUNE 2013 EURASIAN TRADE SYSTEM COMMODITY EXCHANGE Mr. Kurmet Orazayev Chairman of the Board In 2011 ETS steadily focused on building our core business and continued to reinforce the leading positions on the market of exchange trade. A year of 2011 proved to be an encouraging period for Kazakhstani market. It has been noted that commodity trade has potential to grow and further advance in Kazakhstan. In 2011 ETS steadily focused on building our core business and continued to reinforce the leading positions on the market of exchange trade. The combined trade turnover exceeded more than US$ 2 bill as of 2011 whereas company’s financial indicators increased by 10 times since its foundation. Our customers continue to benefit from our substantial investments in information technology. Throughout 2011, we advanced our technology on several fronts. An important development for ETS was the establishment of the indispensable exchange infrastructure. It enables major operators of internet trading to enter Kazakhstani market which became an inherent part for further dynamic growth of the market. Additionally, ETS continued to execute on product launches and global expansion that will smooth the way for the advanced market. We have initiated the successful cooperation with International Association of Exchanges of the Commonwealth of Independent States countries (IAEx CIS), Federation of Eurasian Stock Exchanges (FEAS), The London Gold Market Fixing Limited (TLGMFL), Hong Kong Exchanges and Clearing Ltd (HKEx). Moreover we expanded our strategic initiatives that include the chairmanship of ETS in the committee on development of commodity markets with IAEx CIS since November 2011. As we look ahead in 2012 and beyond, we believe that international collaboration creates long-term value for our shareholders and customers. Looking ahead, our core strengths of providing high level of service, technology platforms and secure central clearing counterparty will continue to benefit market participants. We appreciate our shareholders, customers and partners for their confidence and support in the development of our project. HISTORY AND DEVELOPMENT Building on contemporary trade infrastructure on the commodity exchange, ETS serves the investment needs of our customers. Eurasian Trade System was founded in 2008 on behalf of President of the Republic of Kazakhstan. With its strategic partners Regional Financial Center of Almaty city JSC and stock exchange “Russian Trading System” the project is mainly aimed to form price indices on the country strategic goods. It ensures the data transparency, the decrease of intermediary costs when buying and realizing goods as well as setting fair prices for the ultimate consumers and sellers. ETS focuses on driving efficiency through lower costs, consumer alignment and technology improvement. As a result a full-fledged technical center has been created on the basis of ETS in Almaty city. The center is entirely supplied with the recent equipment and security system. Both spot and derivative market have been provided with contemporary trading system as well as auction trading system to any underlying asset which enables reliability and high pace of conducting transactions. Moreover ETS delivers clearing solutions and services through an independent central counterparty. Our clearing house brings the security and fulfills the contract obligations and business transactions. Clearing house guarantee funds are well-capitalized with collateral from its clearing firms. However ETS has been taking part in the build-up of legal and regulatory documents for the development of organized commodity markets in Kazakhstan that should satisfy international standards. FUTURE OUTLOOK The past year demonstrated the cautious return of certainty to the commodity market. Diversity across our business is a key asset which implies enhancing the product line. Hence it enables us to maintain effectiveness and profitability during unpredictable macroeconomic cycles. ETS carries on the work of the formation of regulatory standards of exchange trade in Kazakhstan in accordance with international practices. On behalf of the President’s administration of RK, ETS jointly with National Bank of the RK and Ministry of environment protection of the RK is involved in development of projects on the launch of gold as well as emission trading via our exchange. ETS’ chairmanship in the Committee on the development of commodity markets promotes the formation of the unified exchange infrastructure, and also integrity of commodity markets within the bounds of Eurasian Economic Community (EurAsEC). Moreover ETS aims to put efforts and build the leading electronic venue for the procurement agency, particularly the government procurement. Hence the launch of regional indices on the strategically significant goods is a necessary process to be implemented in the nearest future. Using our best practices we are able to create the favourable competitive environment for both consumers and sellers in pursuit of bringing the equal access for participants. PAGE 42
FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT JUNE 2013 EURASIAN TRADE SYSTEM COMMODITY EXCHANGE SPOT MARKET DATA 2013 Period USD Tonnes Agricultural trade Industrial trade Agricultural trade Industrial trade Jan 149,123,026 2,997,680 519,803 30,236 Feb 327,206,274 6,514,366 1,099,413 67,667 Mar 341,205,210 28,573,936 1,249,742 284,918 Apr 200,679,254 98,974,028 773,868 921,886 May 363,575,228 28,270,118 1,543,888 262,204 Jun 361,088,433 17,107,160 1,384,142 166,138 CONTACT INFORMATION Contact Name Mr. Serzhan Madiyev E-mail madiyev@ets.kz Website www.ets.kz * Please refer to page 57 for the Kazakhstan country report. PAGE 43
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