The company is engaged in the management of information and communication equipment
History
2024: Freedom Holding sold ITS tech software to ITS
In August 2024, it became known that Freedom Holding sold the Kazakh software developer ITS tech. The deal, which ended in the second quarter of 2024, brought the holding a profit of $4.2 million.
According to Frank Media, International Trading System (ITS) has become the new owner of ITS tech. This is confirmed by information from the public register of the Astana International Financial Center (AIFC).
 | A strategic decision was made to sell ITS tech to ITS Group at cost, so that the site owned its key technology, the development of which was financed by the holding for some time until the exchange had its own funds. The site compensated the holding for all costs, - representatives of Freedom Holding commented on the situation. |  |
ITS tech, registered with the AIFC in May 2022, was originally created as part of a joint project between Freedom Holding and the Russian SPB exchange to create a platform for trading in foreign securities in Kazakhstan. The company specialized in IT support and software development for the trading platform.
ITS trading platform was officially launched in 2023 on the basis of the AIFC. The main legal structure of the site is the International Trading System, whose shareholders are the Foundation for the Support and Development of International Financial Center (80% according to the latest known data), Freedom Kazakhstan (Freedom Holding structure), the former head and shareholder of the SPB exchange Roman Goryunov, as well as AIFC Markets Limited, owned by AIFC.
Initially, ITS operated on the clearing and settlement infrastructure of the St. Petersburg Exchange, using the services of St. Petersburg Bank and St. Petersburg Clearing as a settlement depository and central counterparty. However, in November 2023, the St. Petersburg Exchange fell under US sanctions, which led to the suspension of trading on the ITS site.[1]
Notes
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