Kazakhstan Stock Exchange (KASE, or the Exchange) and Scila AB entered into an Agreement for supply and implementation of the automated surveillance system Scila Surveillance™ at KASE in order to counteract unfair practices in the exchange market.
Scila AB is a leading independent provider of technologies for market surveillance, anti-money laundering and risk management, offering instruments to detect fraud on financial markets.
Scila Surveillance™ is a high-tech, flexible solution for real-time surveillance over participants currently deployed at customer facilities in more than 20 countries, including exchanges, regulators and market participants, and is aimed at maintaining market integrity and building investors’ trust therein.
“The chosen system will allow the Exchange to reach a qualitatively new level of protection of the local market from manipulation. The use of the latest technologies in the field of financial services expands the capabilities of participants, raises the level of service standards and, accordingly, the requirements of the market as a whole”, – noted Alina Aldambergen, Chairperson of KASE’s Management Board.
“Kazakhstan is the largest economy in Central Asia and a leading capital market in the region. KASE offers a wide range of products and instruments in various asset classes, and we look forward to a long-term partnership with KASE,” said Lars-Ivar Sellberg, Executive Chairman and one of Scila co-founders.
Kazakhstan Stock Exchange (KASE) is the leading stock exchange in the Central Asia region. KASE is ranked second among the CIS exchanges in terms of securities trading volume, and the fifth – in terms of the equity market capitalization among the FEAS exchanges.
It is a universal trading platform for corporate and government securities, bonds of international financial institutions, foreign currencies, transactions of the money market – repo and swap, as well as derivatives. KASE is a member of the World Federation of Exchanges (WFE), the Federation of Euro-Asian Stock Exchanges (FEAS) and other international and local professional associations, as well as a participant of the UN’s “Sustainable Stock Exchanges” initiative.
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Scila AB provides cutting edge solutions for trade surveillance, anti-money laundering and risk management. Scila was founded in early 2008. All founders have experience in either surveillance or high-performance technology in the financial industry. Throughout the rapid growth of Scila AB, the focus has been on recruiting the best professionals.
This solid base of superior technology knowledge is combined with a high degree of independence from any market participant and no dependence on external capital. This highly thoughtful strategy gave Scila both the focus and the freedom to develop innovative products that deliver true value to the customer.For more information on Scila AB, please visit www.scila.se