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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.
