Download - FEAS

FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2006
KYRGYZ STOCK EXCHANGE
The index of the KSE in 31 December 2005
declined by 11.55% in comparison with
31 December 2004.
Andrey Zalepo
Acting President
In 2005 trading volume of the Kyrgyz Stock
Exchange(KSE) were reduced by 43.61% in
comparison with 2004, and the total quantity
of the transactions were reduced by 24.29%.
The index of the KSE on 31 December 2005
declined by 11.55% in comparison with 31
December 2004.
HISTORY AND DEVELOPMENT
The KSE was founded in 1994. The official
opening and the first trade in stocks took
place in May 1995, while a privatization
process was in full swing in our country.
At the initial stage of its existence and up until
2000, the KSE had functioned as a non-profit
organization with a total membership of 16.
In May 2000 the KSE was transformed into a
joint-stock company; simultaneously we
acquired one of the largest shareholders and
a reliable partner in the Istanbul Stock
Exchange, which has actively assisted us in
improving our activities. In 2001 the
Kazakhstan Stock Exchange became a
shareholder allowing the KSE to significantly
increase its technical software potential.
At present the KSE is a closed-type non-profit
joint-stock company with 17 shareholders.
FUTURE OUTLOOK
Priorities for the KSE in 2006 are:
• continue the work on launching new indices
(including for energy and financial
companies);
• continue the work on introduction of a
cryptographic information security system to
be used in the process of trading;
• development on the question of
introduction of new financial instruments
(state securities, municipal bonds) in the
Kyrgyz Republic securities.
A significant contribution has been made by
the US Agency on International Development
(USAID) for the sake of our continued
development. Thanks to the USAID, the KSE
has obtained powerful financial support that
has allowed our Exchange to become
independent.
PAGE 92