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FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT APRIL 2007<br />
KYRGYZ STOCK EXCHANGE<br />
The index of the KSE in 31 December 2005<br />
declined by 11.55% in comparison with<br />
31 December 2004.<br />
Andrey Zalepo<br />
Acting President<br />
In 2005 trading volume of the Kyrgyz Stock<br />
Exchange (KSE) were reduced by 43.61% in<br />
comparison with 2004, and the total quantity<br />
of the transactions were reduced by 24.29%.<br />
The index of the KSE on 31 December 2005<br />
declined by 11.55% in comparison with<br />
31 December 2004.<br />
HISTORY AND DEVELOPMENT<br />
The KSE was founded in 1994. The official<br />
opening and the first trade in stocks took<br />
place in May 1995, while a privatization<br />
process was in full swing in our country.<br />
At the initial stage of its existence and up until<br />
2000, the KSE had functioned as a non-profit<br />
organization with a total membership of 16.<br />
In May 2000 the KSE was transformed into a<br />
joint-stock company; simultaneously we<br />
acquired one of the largest shareholders and<br />
a reliable partner in the Istanbul Stock<br />
Exchange, which has actively assisted us in<br />
improving our activities. In 2001 the<br />
Kazakhstan Stock Exchange became a<br />
shareholder allowing the KSE to significantly<br />
increase its technical software potential.<br />
At present the KSE is a closed-type non-profit<br />
joint-stock company with 17 shareholders.<br />
FUTURE OUTLOOK<br />
Priorities for the KSE in 2007 are:<br />
• continue work on the introduction of a<br />
cryptographic information security system to<br />
be used in the process of trading;<br />
• development of uniform rules of listing and<br />
delilsting in KR;<br />
• continue the work on engaging Kyrgyz<br />
company securities KSE listing;<br />
• continue participation in the Privatization<br />
program–sell/buy securities owned by<br />
government on the KSE; and<br />
• realization of the project, Organization state<br />
securities trading on.<br />
A significant contribution has been made by<br />
the US Agency on International Development<br />
(USAID) for the sake of our continued<br />
development. Thanks to the USAID, the KSE<br />
has obtained powerful financial support that<br />
has allowed our Exchange to become<br />
independent.<br />
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