Monthly rebalance of ITS Shariah Index: Texas Instruments replaces Caterpillar
International trading platform ITS has completed its monthly rebalancing of the ITS Shariah Index, which serves as the benchmark for the ITS Shariah ETF (ticker: ITSS).
Following the rebalancing, shares of Texas Instruments (TXN), a leading semiconductor manufacturer, were added to the ITS Shariah Index, replacing Caterpillar (CAT), a construction and mining equipment manufacturer.
The rebalancing also led to adjustments in the weightings of the 30 international company stocks included in the ITS Shariah Index. These stocks are selected based on their operations and financial standing to ensure compliance with the criteria of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).
Shares included in the ITSS fund undergo daily independent monitoring by Sahih Invest, a certified firm. The ITS Shariah Index, and consequently the ITSS fund composition, is rebalanced monthly.
ITSS ETF shares are denominated in U.S. dollars. Trading on ITS runs from 10:00 AM to 3:45 AM Astana time the following day (05:00 AM to 10:45 PM UTC). Since the first trading day, market makers have ensured liquidity for ITSS ETF shares throughout the session.
The fund has a management fee of 0.5% per annum and is managed by IPS Capital, which is licensed by the AIFC to oversee funds for retail investors. The composition, real-time performance, index methodology, and related documents are published on the ITS website.
Investors should be aware that ETF shares and securities are high-risk assets. Past performance data is provided for informational purposes only and should not be viewed as an indication of future results. The value of ITS Shariah ETF shares may fluctuate, reflecting the price movements of the securities in the ITS Shariah basket.
About ITS
ITS is an international liquidity hub. Central to ITS's business model are the principles of best execution and smart order routing technology. These principles enable investors to execute securities transactions at the best prices available on the global financial market, regardless of the transaction volume. This technology ensures that the liquidity for foreign securities on ITS matches that of leading international platforms where these securities are traded.
ITS Central Securities Depository Limited, the central depository for ITS, offers depository services for the storage and settlement of securities. The depository has received Qualified Intermediary with primary withholding responsibility (WQI) status from the U.S. Internal Revenue Service (IRS).
Operating a clearing house that acts as a Central Counterparty, ITS assumes the counterparty role for all obligations of clearing participants and manages the clearing process for transactions on the ITS trading platform.
ITS also calculates its own indexes: the ITS World index (ITSW) and the ITS Shariah index (ITSS).
Trading of the first ETF in Central Asia and Caucasus, pegged to the performance of ITS’s own index – ITS World (ticker: ITSW), began on ITS in November 2024, providing a wide range of investors with a convenient and balanced instrument for investing and trading with a low entry threshold. In January 2025, the ETF lineup expanded with the introduction of a fund based on the ITS Shariah Index (ticker: ITSS).
ITS's direct clients include professional securities market participants from Kazakhstan and other countries, such as financial intermediaries who are accredited and directly registered at the AIFC. Investors, both private individuals and legal entities, access trading through these financial intermediaries, such as brokers and banks.
ITS Press Service
pr@itsx.kz