ALMATY – For the first time, the World Forum of Central Securities Depositories (WFC 2025) convened in Kazakhstan, bringing together more than 200 participants from 80 countries to tackle challenges and opportunities in post-trade markets on Sept. 23-26. Hosted by the Kazakhstan Central Securities Depository (KCSD), the forum united the regional associations representing nearly 135 organizations worldwide.

Across both days, WFC 2025 highlighted the post-trade industry’s balancing act: embracing innovation while maintaining stability, integrating technology while ensuring interoperability, and expanding market access while ensuring operational resilience. Kazakhstan’s successful hosting highlighted its ambition to become a regional hub of post-trade expertise. 

KCSD Chairman Yedil Medeu highlighted the breadth of topics covered during the forum — from resilience to strengthening global connections. At the heart of these exchanges, he emphasized the deep message spread during the forum days. 

“These conversations remind us that our work is not only about systems and processes, but also about trust, collaboration, and a shared responsibility to support the stability and progress of financial markets worldwide,” he said. 

Gratitude was also extended to all who contributed to the event’s success. Speakers, partners, and participants alike were recognized for their role in shaping meaningful dialogue and strengthening professional ties:

“The value of this forum lies in the dialogue we create and the networks we strengthen – and Almaty has been a wonderful setting for these exchanges,” Medeu said.

Jean-Paul Renaud, the Chief Market Strategy Officer at Euroclear, highlighted the critical role of collaboration.

“Innovation cannot succeed in isolation. CSDs, regulators, and market participants must coordinate to ensure that efficiencies benefit the entire ecosystem, not just individual institutions,” he said. 

Adil Mukhamejanov, the chairperson of the Management Board of Kazakhstan Stock Exchange (KASE), spoke about AI and technological trends such as Distributed Ledger Technology (DLT).

He stated that KASE is exploring both DLT and AI, collaborating with the National Bank, regulators, and the Central Securities Depository to finalize legislation and design an end-to-end system, from Know Your Customer (KYC) onboarding to settlement, that prioritizes efficiency and customer value. 

“We strongly believe that technical innovations and improvements can shape the capital markets, too,” said Mukhamejanov.

The speakers also discussed strategies to attract investors from emerging regions. They agreed that technology is “a must,” but safeguarding cybersecurity is crucial to protect investor accounts and maintain trust.

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