/KASE, December 6, 2023/ – Bank CenterCredit JSC (Almaty), whose
securities are officially listed on Kazakhstan Stock Exchange (KASE), has
provided KASE with the following press release dated December 6, 2023:
quote
Bank CenterCredit JSC and the EBRD concluded the first KZT Overnight
Indexed Swap (OIS) in the history of the Kazakh market.
On the Kazakh tenge derivatives market (DIF derivatives), an OIS (Overnight
Indexed Swap) transaction was concluded between the European Bank for
Reconstruction and Development (EBRD) and Bank CenterCredit JSC. The
TONIA money market benchmark was used as the overnight index rate, and for
the purpose of calculating the daily capitalization (accrual) of the overnight
rate, the TCI (TONIA Compounded Index) indicator, which is published by the
exchange every business day, was used.
Overnight Indexed Swap (OIS) is a swap in which the overnight rate is
exchanged for a fixed interest rate. The overnight rate index is used in hedging
contracts in which one party exchanges a predetermined asset with another on a
specified date".
unquote
This version of the press release is available in Russian and English –
https://kase.kz/files/emitters/CCBN/ccbn_relizs_061223.pdf
[2023-12-06]