The Tel-Aviv Stock Exchange (TASE) and new stock exchange in Kazakhstan – the Astana International Exchange (AIX), established as part of the Astana International Financial Centre (AIFC), announced that they signed an agreement of Cyber Security Consultancy. Since its inception AIX focuses on cybersecurity and cooperates with the several professional consultants and partners in respect of this issue. This will be the first time that TASE is to provide professional consultant cyber security services to another stock exchange. The agreement has been signed based on the high level of professionalism and the many years of experience of TASE’s professional personnel in the field of cyber security – one of the major challenges currently confronting stock exchanges and financial institutions throughout the world.
In the current global situation, the exchanges are potential targets for cyber-attacks from various malicious entities, such as anti-globalization activists, terror organizations and hostile states, as well as criminal organizations. Damage to the exchange’s activity caused by cyber-attacks is not just a significant financial risk but may also deeply hurt the reputation of the exchange, since investor confidence is one of central pillars on which an exchange’s activity is constructed.
Pursuant to the advisory services agreement, the Israeli exchange will provide a basket of cyber-security services and solutions. The services to be provided will include: studying and assessing the business and technology environment, in the context of cyber security; defining specific needs; risk mapping; and identifying the solutions that are relevant for the new exchange in Kazakhstan. In addition, the Israeli exchange will be responsible for planning cyber-security implementation projects, supplier selection support, task prioritization; and supervision and control of project implementation.
TASE is subject to the supervision of the Israeli Cyber Authority, which operates within the framework of the Israeli Prime-Minister Office.
TASE is subject to the supervision of the Israeli Cyber Authority, which operates within the framework of the Israeli Prime-Minister Office.
Ittai Ben-Zeev, TASE’s CEO said: "We are sure that this collaboration will contribute and promote the development of cyber security, an important field in any exchange today. In accordance with our strategic plan, we are continuing to develop new spheres of activity with emphasis on creating international collaborations through leveraging our unique professional expertise and the many years’ experience of the stock exchange in Israel".
AIFC. The AIFC was established on the initiative of the President of the Republic of Kazakhstan Nursultan Nazarbayev. In December 2015 President Nazarbayev approved the Constitutional Statute “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to establish a leading international centre of financial services.
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets. www.aifc.kz
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, develop local capital markets, ensuring their integration with the international capital markets. www.aifc.kz
AIX. In October 2017 during the meeting of the Board of Directors of AIFC, a decision to create AIX was taken. The main strategic partners of AIX are the Shanghai Stock Exchange and NASDAQ, which provided a technical platform. Shanghai Stock Exchange and NASDAQ are among the five largest exchanges in the world. The role of the AIX is to enable domestic and regional development, through the mobilisation of domestic resources and foreign portfolio flows. In doing so, the exchange promotes good governance through its business practices. www.aix.kz
TASE, The Tel Aviv Stock Exchange Ltd. was founded in September 1953. The TASE group, which consists of the stock exchange, the Nominee Company, the TASE Clearing House and the Derivatives Clearing House, provides local and international investors with trading and clearing in securities, including stocks, corporate bonds, government bonds, index-tracking products and derivatives. The Tel Aviv Stock Exchange is home to over 455 listed companies, with a total market value of approximately USD 230 billion, 664 corporate bonds and 695 ETFs. www.tase.co.il
