About
One way into the market, instead of ten agreements
To place an issue or build a portfolio today, a market participant deals with every counterparty separately: a broker, an exchange, a fund, a bank. Each has its own admission rules, its own reporting and its own timetable.
Tengri Sky brings this onto a single venue. An issuer submits an issue and watches the placement progress. An investor is verified once and gains access to every admitted product. Brokers and funds act for their clients through shared trading and settlement.
The venue is being built under the rules of the Astana International Financial Centre, a separate jurisdiction inside Kazakhstan operating under law based on English law. Seven regulated activities, four participant categories, five instrument classes including sukuk and digital assets.
Participants
Who operates on the venue
Access to transactions opens after verification and assignment of a client category. The permitted categories are set by the regulator.
Investor
Finds products in the shared catalogue, takes part in placements and trades on the secondary market. Portfolio, transaction history and documents sit in one workspace.
Issuer
Submits an issue for admission, discloses product information, follows the placement and meets obligations to holders.
Broker
Trades on behalf of clients, keeps their accounts segregated, submits orders and produces reporting for each client.
Investment fund
Issues and redeems units, discloses unit and net asset values, and manages assets for unitholders.
Instruments
What trades on the venue
The range of instruments is set by the regulator's authorisation and widens as further permissions are granted.
Equity securities
Shares and participations placed by issuers.
Debt securities
Bonds, with tenor, coupon payments and redemption.
Fund units
Issue and redemption of units, and unit value calculation.
Sukuk
Islamic securities: the return comes from a real asset rather than from interest. The structure of each issue is disclosed separately.
Digital assets
Trading and custody, with assets split between offline storage and working wallets.
Regulation
Why this is not another trading site
Investment products cannot be traded without authorisation. Tengri Sky is being built inside the Astana International Financial Centre, supervised by the Centre's regulator, the Astana Financial Services Authority.
The route to market starts with the FinTech Lab. In this regime the venue works with real clients and real money, but under a ceiling: the number of clients, the volume of transactions and the types of client that may be served are all capped. Those limits are built into the system and cannot be overridden by staff.
- AIFC
- A separate jurisdiction in Astana. Disputes are resolved under law based on English law, in the Centre's own court.
- AFSA
- The Centre's regulator. It grants authorisations, sets testing limits and receives reporting.
- FinTech Lab
- A regulated testing regime. It allows a venue to operate in the live market within set limits before a full licence is granted.
How it works
What protects the money and the data
Platform requirements were drawn up under the standards of the Republic of Kazakhstan and the rules of the AIFC. Each one is verified at acceptance testing.
Money and assets
Client money kept apart
Client funds are held with banks and recorded separately from the company's own money. Each client's balance is reconciled against bank statements daily.
Digital asset custody
The share of assets held in network-connected wallets is capped. Anything above the cap moves automatically into offline storage.
Checks and limits
Every client verified
Identity is confirmed before access to transactions. Client details are screened against sanctions lists on admission and whenever those lists change.
Limits inside the system
A transaction that would breach the regulator's limits does not go through. No role can bypass the check, including an administrator.
Record and resilience
Every transaction recorded
Transaction history is kept in a form that cannot be altered, and retained for at least six years.
Running when part fails
The venue runs across at least two independent zones. Losing one does not stop the ledger or client access to information about their assets.
Progress
Where the project stands
The venue is at the design stage. Below is the sequence in which it reaches the market.
Technical documentation
The system specification and the technology platform description have been prepared and delivered.
Application to the AFSA
The technical part of the application is being prepared for submission.
Building the platform
Development and acceptance testing, once authorisation is granted and the integration arrangements are confirmed.
Operating in the FinTech Lab
Serving clients within the limits set by the regulator.
Company
Who is behind the project
The venue operator is FinExpert Limited, a private company. It is also the applicant before the regulator and carries the obligations of a participant in the testing regime.
- Name
- FinExpert Limited, private company
- BIN
- 200640900129
- Jurisdiction
- Republic of Kazakhstan, Astana International Financial Centre
- Head
- I. S. Shulyatitskaya, Director
Get in touch
For partnership and participation enquiries.
- Address
- Mangilik El avenue, building 55/20, Yesil district, Astana, Kazakhstan