The first transaction involving refined gold of Kyrgyzaltyn OJSC has been carried out on the Kyrgyz Stock Exchange, totaling 3,939 million soms.
According to the exchange, the buyer was Pension Savings Fund Kyrgyzstan OJSC. The deal was executed under a trilateral agreement between the Kyrgyz Stock Exchange, Kyrgyzaltyn OJSC, and the Central Depository CJSC.
Kyrgyzaltyn acts as the issuer and assumes market maker obligations. Market participants are offered several options for working with the metal, including physical withdrawal from storage, custodial storage, and resale without physical delivery. Custodial storage will be free of charge for the first 12 months.
Organized gold trading creates a new instrument for both financial and non-financial institutions to allocate excess funds and diversify liquidity, the exchange noted. Clients of banks and brokerage companies will be able to buy, sell, and store refined gold in non-cash form via mobile applications and internet banking.
«The first transaction is a historic moment for us and an important step in the development of an organized precious metals market in Kyrgyzstan. We are providing participants with a transparent, liquid, and regulated mechanism for working with gold, comparable in convenience to securities trading. Thanks to market maker obligations undertaken by Kyrgyzaltyn, gold is becoming an accessible asset for liquidity management both for institutional investors and end clients through banking channels,» Almazbek Karakozhaev, Head of the Precious Metals Trading Sector at the Kyrgyz Stock Exchange, said.
