AKIPRESS.COM - Kazakhstan’s Finance Ministry and its stock exchange Astana International Exchange (AIX) signed a memorandum with Euroclear to proceed and develop an “international link” for Kazakh securities, the three parties said in a joint statement on Tuesday, Reuters reported.

Brussels-based Euroclear is Europe’s biggest settlement house for securities.

AIX is a new stock exchange being set up in Kazakhstan’s capital, Astana, as part of the government’s plan to create a regional financial hub. The Shanghai Stock Exchange has said it would hold a 25.1 percent stake in AIX.