AIX posts record $562 million monthly turnover, 75 per cent in four lines

Astana International Exchange (AIX) recorded total traded value of $562 million, or KZT250.2 billion, in September, its best month on record and $150 million above the previous record, its monthly market update said.

The exchange reported $135.5 million for July and $134.9 million for August, so September was more than four times the average of the two preceding months, a Data Desk calculation.

Four lines made up three quarters of the value

The September update lists trading by instrument. Data Desk added up the lines, converting non-dollar trades at the National Bank of Kazakhstan's official rates for 30 September, which gives $562.7 million, in line with the exchange's headline figure. On that basis fixed income accounted for $297 million, or 52.9 per cent of the month's value, structured products for $173 million (30.8 per cent) and equity for $92 million (16.3 per cent), using the segment headings in the update.

Concentration was high. The four largest lines in the update were FFSPC2.0929, a fixed-income line that traded $190.0 million in 3,656 trades, FONKZ, a structured product that traded $103.7 million in 41 trades, the equity line CORE, which traded $65.7 million in 9,716 trades, and FONC, a structured product that traded $64.3 million in three trades. Together they account for $423.8 million, or 75 per cent of the month's value. The update shows no prior-month comparison for FFSPC2.0929, FONKZ and FONC, and their year-to-date values equal their September values, which indicates that they first traded in September. The update identifies instruments by code only.

Among equities, traded value in CORE rose 313 per cent from August, the update shows. The equity line coded KMG traded KZT6.8 billion, up 2,680 per cent on the month.

A quarterly figure that does not match the monthly data

AIX's results release for the third quarter, published on 9 October, says trading turnover exceeded $1.9 billion, more than 70 per cent above the same period of 2025, and compares it with $1.1 billion. The monthly updates for July, August and September add up to about $832 million, so the $1.9 billion appears to cover a longer period than the quarter, although the release does not say so. The year-to-date columns in the September update sum to about $1.79 billion on the same conversion basis, a Data Desk calculation. The release also describes September as the highest monthly turnover in the exchange's history.

Listings, products and the index

At 30 September the AIX Official List held 436 securities from 210 issuers, and 126 instruments from 77 issuers had been listed in the first nine months of 2026, the release says. It puts capital raised at $17.4 billion since inception and $6 billion in the nine months. AIX had 69 trading members, four of them onboarded this year, ten global custodians with sub-accounts at its depository, and more than 2.4 million retail investor accounts held through member brokers.

The release lists debt issues in four currencies, dollars, tenge, UAE dirhams and Chinese renminbi. They include a $200 million add-on by the Development Bank of Kazakhstan, yuan bonds from KazMunayGas and the development bank, the Ministry of Finance's RMB6.6 billion Panda bonds, a $500 million tranche from Freedom Finance SPC Ltd, a first AED10 million green bond tranche from Jet Group Ltd and a KZT5 billion sukuk tranche from Gamma-T SPC Limited.

On 10 September AIX began trading voluntary carbon credits verified under the Verified Carbon Standard, with London-based Valor Carbon as the first supplier, the release says. The AIX Qazaq Index stood at 2,347.00 at the end of September, up 14.67 per cent since the start of the year and below its all-time high of 2,533.55 on 27 August, the release shows. In its quarterly review on 1 October the index committee rebalanced the 15-member index, leaving Kazatomprom, Kaspi, KMG and Freedom Holding at 15.00 per cent each.