BHM Capital Expands Global Footprint as Market Maker on Kazakhstan Stock Exchange

BHM Capital has expanded its footprint in Central Asia by securing a market maker appointment on the Kazakhstan Stock Exchange (KASE). For fintech professionals, this move highlights the growing importance of digital exchange hubs like Tabadul in bridging regional liquidity pools and facilitating cross-border trading between the Middle East and emerging markets.

What was announced

On 6 October 2026, BHM Capital Financial Services PSC announced its new role as a market maker on the Kazakhstan Stock Exchange (KASE). This follows the company's recent appointment to the same role on the Astana International Exchange (AIX). The expansion is part of a broader international strategy to deploy market-making expertise in regions where it can enhance trading activity and liquidity. The integration is facilitated through the Tabadul Digital Exchange Hub, a platform designed to create digital links between international exchanges.

By acting as a liquidity provider on KASE, BHM Capital aims to improve trading efficiency for a variety of financial instruments. This move is intended to strengthen the financial ties between the United Arab Emirates and Kazakhstan, allowing for more seamless capital flow between the two regions. The appointment allows BHM Capital to apply its established market-making framework to the Kazakhstani market, providing the necessary depth to support increased investor participation and more stable pricing for listed securities. The expansion reflects a long-term approach to international growth, with market making serving as a core pillar of the company's operations across regional and global exchanges.

"We are pleased to welcome BHM Capital as a member and market maker on KASE through the Tabadul Digital Exchange Hub. This milestone represents a significant step in developing cross-border trading infrastructure and expanding capital market integration between Kazakhstan and the UAE. By leveraging the Tabadul platform, we are establishing digital links that enhance market liquidity and provide investors in both regions with broader access to diverse financial instruments."

Mr. Adil Mukhamejanov, Chairman of Kazakhstan Stock Exchange (KASE)

The companies involved

BHM Capital Financial Services PSC is a private joint stock company listed on the Dubai Financial Market (DFM) and regulated by the UAE Capital Market Authority (CMA). The firm provides services to both individual and corporate investors and is recognized as a top-ranked institution in the United Arab Emirates' financial markets. BHM Capital has positioned itself as a pioneer in financial technology, acting as a regional leader in providing essential tools for its clients. The Kazakhstan Stock Exchange (KASE) is a primary financial market in Kazakhstan, facilitating the trade of various financial instruments. The Astana International Exchange (AIX) is another key exchange in the region, which BHM Capital joined earlier in 2026. These institutions are increasingly linked through the Tabadul Digital Exchange Hub, a platform designed to enhance cross-border trading infrastructure and integrate capital markets between Kazakhstan and the UAE. This digital connectivity is central to the strategy of expanding market liquidity and providing broader access to diverse financial instruments for investors in both regions.

What FF News has reported before

FF News has closely tracked the expansion of UAE-based financial institutions into the Central Asian corridor. In August 2026, we reported that BHM Capital Becomes First UAE Institution to Join Astana International Exchange via ADX Tabadul, marking the initial phase of this regional strategy. Additionally, the broader Kazakhstani financial landscape has seen significant developments; FF News recently covered how Moody’s Awards Freedom Holding Corp. First Investment-Grade Rating for Insurance Subsidiaries, reflecting the increasing institutional maturity of the region’s capital markets.

What this means

This announcement underscores a shift in how regional exchanges are competing for global relevance. By utilizing the Tabadul Digital Exchange Hub, KASE and BHM Capital are bypassing traditional, siloed market structures in favor of a networked approach to liquidity. This puts pressure on other regional exchanges to either join existing digital hubs or risk isolation as capital flows gravitate toward integrated platforms. The move also highlights the UAE's role as a sophisticated exporter of financial services technology and market-making expertise. The success of this integration will likely serve as a benchmark for future cross-border capital market collaborations.