July 30, 2018 / 12:23 PM / a year ago

Kazakhstan starts settling govt bonds through Clearstream

ALMATY, July 30 (Reuters) - Kazakh government bonds and central bank notes can be cleared through the international system Clearstream from Monday, making them more easily available to foreign investors, the Central Asian nation’s central bank said.

Connecting to clearing systems such as Clearstream, owned by German stock market operator Deutsche Boerse, could lower the cost of borrowing for the government of the former Soviet republic. Kazakhstan is also working to start operations with the Euroclear clearing system.

Previously, foreign buyers needed to open an account with a local securities depository in order to purchase domestically issued securities. (Reporting by Olzhas Auyezov, Editing by William Maclean)

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