JSC "Caspy Commodity Exchange" (CCX) is a system-forming exchange of a new generation in the Republic of Kazakhstan, the flagship of the national commodity market, setting standards for exchange trading, corporate transparency, and technological development of the industry.
The exchange was founded in November 2011 and registered in accordance with the legislation of the Republic of Kazakhstan. On December 30, 2011, on the day of receiving state license No. 1000349 from the Trade Committee of the Ministry of Economic Development and Trade of the RK, the first exchange trades in the agricultural products section took place on the CCX platform.
Since its foundation, CCX has demonstrated sustainable growth and throughout its activities has consistently been among the top three exchanges in the country by the volume of concluded deals. The total volume of trade and procurement operations on the site exceeds 7 billion US dollars, reflecting high liquidity and the trust of market participants.
The exchange organizes trading on the principles of publicity, equality and non-discriminatory access.
The Trade Committee of the Ministry of Economic Development and Trade of the Republic of Kazakhstan issued state license No. 1000349 to JSC "Caspy Commodity Exchange" to carry out the activities of commodity exchanges.
Mission and role in the market
The mission of the Caspy Commodity Exchange is to form a transparent, competitive and technologically developed commodity market that contributes to the sustainable development of the economy of the Republic of Kazakhstan, integration into international commodity markets and increasing trust between the state, business and investors.
CCX plays an active role in the development of market mechanisms, the formation of fair pricing and the strengthening of interstate economic ties, consistently implementing the best international practices of exchange trading, regulation and ESG approaches.
Technological platform and security
The key competitive advantage of CCX is a high-tech electronic trading system that provides a reliable, transparent and convenient mechanism for concluding transactions with remote access via the Internet.
The CCX trading terminal is an in-house development of the Exchange and is implemented on the "white box" principle, providing full transparency, the possibility of audit and real-time monitoring. Authorized state bodies of the Republic of Kazakhstan have access to the system, including the Ministry of Trade and Integration, the Agency for Protection and Development of Competition, the Ministry of Energy, the Financial Monitoring Agency and the National Security Committee.
The CCX information system is included in the list of critical objects of information and communication infrastructure (COICI) of the Republic of Kazakhstan, which confirms its strategic importance and increased requirements for the level of information security and resilience.
In 2019, the CCX trading terminal successfully passed complex tests at JSC "State Technical Service" and confirmed compliance with all the requirements of the Republic of Kazakhstan in the field of information security and software reliability.
In 2020, the Exchange acquired a controlling stake in the IT company Full Stack Development LLP (a resident of Astana Hub) in order to ensure the support and development of the IT infrastructure.
Markets, sections and key areas of trading
The Caspy Commodity Exchange organizes trading in a wide range of strategically significant commodity markets.
In 2012, the first trades for subsoil users and public procurement started on the CCX platform.
In 2013, CCX became the pilot and the only exchange in the CIS that organized trading in CO₂ greenhouse gas emission quotas within the framework of the cap & trade mechanism introduced in Kazakhstan. This market has become an important instrument of environmental regulation and sustainable development.
In 2014, CCX became the first in the Republic of Kazakhstan to launch exchange trading in electricity, ensuring the formation of transparent market indicators in the energy sector.
The exchange is the largest platform in the "Portal" section in terms of subsoil users' procurement, demonstrating the highest total trading turnover in the country.
In 2018, the Exchange created a subsidiary, Caspy Tender LLP, on the basis of which an electronic trading platform was implemented. This platform is intended as an electronic procurement system for goods, works and services for subsoil users, natural monopoly entities and commercial organizations.
In 2019, CCX was one of the first to receive accreditation from the Ministry of Energy of the Republic of Kazakhstan as a platform for the sale of liquefied petroleum gas (LPG) to the domestic market. The exchange facilitates the sale of LPG from the country's largest processing enterprises, including the Atyrau Refinery, Pavlodar Petrochemical Plant, Shymkent Refinery, and Amangeldy Gas LLP Gas Processing Plant.
CCX is also one of the leading exchange platforms for cement and coal transactions. The exchange features the largest producers in Kazakhstan, and trading is carried out on the basis of transparent and standardized conditions.
Since March 2021, the Exchange has been admitted as one of the two commodity exchanges organizing trading in petroleum products and bitumen.
Since April 2021, CCX has been designated by the Exchange Committee under the AZRK of the RK as a platform for the sale of the mandatory volume of domestic coal.
In 2022, Caspy took 1st place in the Republic of Kazakhstan by exchange turnover volume.
In 2024, the Exchange became a leader in the volume of trading in petroleum products in the Republic of Kazakhstan.
In 2025, an updated clearing system module was introduced together with the exchange's clearing center. The module is fully automated, allowing clients to track the movement of their funds online through their personal account.
В сентябре 2025 году АО «Товарная Биржа «Каспий»» признано победителем конкурса Министерства торговли и интеграции РК по определению товарных бирж для торговли социально значимыми биржевыми товарами (СЗБТ), набрав наивысший среди участников итоговый балл — 249.
Corporate governance and publicity
CCX consistently adheres to the principles of corporate openness and transparency. In 2019, the Exchange passed the listing procedure and brought its shares to trade on JSC Kazakhstan Stock Exchange (KASE). Ordinary and preferred shares of JSC Caspy Commodity Exchange are included in the "Shares" sector of the KASE official list, which confirms a high level of trust from the financial market.
The authorized capital of the Exchange has been increased to 5 million US dollars, and financial statements and key information about the Exchange's activities are publicly available.
International cooperation and ESG
Caspy Commodity Exchange actively develops international cooperation. The exchange interacts with commodity exchanges of the CIS and far abroad countries, international and Kazakhstan banks, government bodies, and industry associations.
Some of the key strategic partners of CCX are Deutsche Börse AG and European Energy Exchange (EEX), whose experience was used in the development of electricity and carbon unit markets.
CCX also cooperates with state exchanges of neighboring countries, including the Belarusian Universal Commodity Exchange (BUCE) and the Uzbek Republican Commodity and Raw Materials Exchange (UZEX).
The Exchange is a participant in the UN Global Compact, is included in the Association of European Energy Exchanges (EUROPEX) as an associate member, and is also an active participant in environmental initiatives.
Since 2018, CCX has been an active member of the Association of Ecological Organizations of the Republic of Kazakhstan.
CCX received a high international ESG rating from S&P Global: in 2024 (percentile - 87/100) and in 2025 (percentile - 95/100). The exchange regularly publishes reports on its carbon footprint and sustainable development.
Strategic importance
The development of the commodity market, the formation of national price indicators and the standardization of exchange conditions allow market participants to effectively hedge price risks, plan long-term production and trading activities, and reduce transaction costs.
Prices formed in the liquid and transparent CCX market are recognized as market prices under the tax, antimonopoly and exchange legislation of the Republic of Kazakhstan.
| Fund | Approved minimum balance for 2025 | Amount in tenge | Date |
|---|---|---|---|
| Reserve fund | 20 000 MCI | 92 140 990.87 KZT | 03.09.2026 г. |
Graduated with honors from the Kazakh Humanities and Law University in 2002 with a degree in jurisprudence. In 2007-2009, graduated from the Eurasian Academy with a degree in finance.
In 2023, received a Master of Business Administration degree from KAZGUU named after M. Narikbayev, and an MBA degree from the University of Business Innovation and Sustainability, Washington DC.
Higher legal, technical education.
Corresponding Member of the International Academy of Refrigeration. Honored Ecologist of Kazakhstan
Graduated from KazGUA in 2002 with a degree in jurisprudence, and the Academy of Public Administration under the President of the Republic of Kazakhstan in 2008, Master of Public Administration.
20 years of public service, including service in the prosecution authorities of the Republic of Kazakhstan, and managerial positions in local executive bodies.
Over 15 years of experience in commodity markets, with a focus on the development of exchange trading, energy markets, and data analytics.
He has experience working in the markets of Central Asia, Israel, and Ukraine, including market design and launch, as well as the development of regulatory approaches, including in the context of harmonizing national legislation with the norms and principles of European Union law.
Graduated from M. O. Auezov South Kazakhstan State University with a degree in Accounting and Auditing. Professional accountant of the Republic of Kazakhstan. Holds CIMA P1 and CIMA P2 qualifications and a tax consultant certificate.
Since 2018, she has held managerial positions in accounting and taxation, overseeing the management and consolidation of a group of companies (more than 10 companies).
In accordance with Article 53-1 of the Law of the Republic of Kazakhstan “On Joint Stock Companies” dated May 13, 2003 No. 415, the Board of Directors of JSC “Caspian Commodity Exchange” approved the following committees:
