Government securities

The following are represented on the government securities market:

securities issued by the Ministry of Finance of the Republic of Kazakhstan, including subject to the foreign laws
notes issued by the National Bank of the Republic of Kazakhstan
bonds of local executive bodies
foreign government securities

Trading and settlements for liquid government securities take place using the T+2 technology (on the second day after the transaction is made), for illiquid securities using the T+0 technology (on the day the transaction is made)

Markets/

Stock Markets/

Government securities

Recent placement

GS issue schedule on 2025 year

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Announcements

MUM084_0018

The Ministry of Finance of the Republic of Kazakhstan

Announced volume

20 000,0 m. KZT

Maturity

926 (3)

16.09.2025

MUM132_0007

The Ministry of Finance of the Republic of Kazakhstan

Announced volume

20 000,0 m. KZT

Maturity

2 470 (7)

16.09.2025

MUM180_0011

The Ministry of Finance of the Republic of Kazakhstan

Announced volume

30 000,0 m. KZT

Maturity

1 407 (4)

16.09.2025

MKM012_0161

The Ministry of Finance of the Republic of Kazakhstan

Announced volume

30 000,0 m. KZT

Maturity

239 (1)

16.09.2025

Event digest

Market trends

Government Debt / Trading Volume

GS SPOT curve

GS indices

as of 12.09.2025

KZGB_CPm1m

860,72

+0,01 %

KZGB_CP

885,76

-0,21 %

KZGB_CPs

1 182,31

+0,11 %

KZGB_CPm

913,05

-0,18 %

KZGB_CPl

740,54

-0,72 %

"Clean" price index

KZGB_DPm1m

1 056,73

+0,04 %

KZGB_DP

1 054,75

-0,17 %

KZGB_DPs

1 411,20

+0,14 %

KZGB_DPm

1 196,74

-0,14 %

KZGB_DPl

981,02

-0,64 %

"Dirty" price Index

KZGB_Ym1m

17,05% APR

KZGB_Y

17,02% APR

+0,05

KZGB_Ys

16,60% APR

-0,14

KZGB_Ym

17,16% APR

+0,08

KZGB_Yl

16,87% APR

+0,15

Yield Index

Instruments available for trading

All instruments

Finance Ministry RK

NBRK

Akimats

Foreign GS

Ticker	ISIN	Currency	Volume,mln KZT	Yield,%	Coupon, %	Maturity	Market-maker	Date
MUM096_0013	KZKD00001202	KZT	0,001	16,50	11,00	1 582 (4)	Freedom Finance	12.09.2025
MUM156_0007	KZKD00001103	KZT	0,002	16,20	10,12	3 035 (8)	Freedom Finance	12.09.2025
MUM132_0007	KZKD00001152	KZT	0,001	16,30	10,65	2 474 (7)	Freedom Finance	12.09.2025
MUM108_0015	KZKD00001277	KZT	150,5	16,93	14,50	3 054 (8)	–	12.09.2025
MUM240_0001	KZKD00000550	KZT	0,181	16,30	5,50	2 382 (7)	Halyk Bank; Freedom Finance	11.09.2025
MUM180_0013	KZKD00000931	KZT	0,014	16,20	8,66	2 722 (8)	–	11.09.2025
MUM108_0012	KZKD00000915	KZT	0,695	16,40	9,10	291 (1)	–	11.09.2025
MUM300_0002	KZKD00000774	KZT	0,006	16,00	8,35	4 993 (14)	–	10.09.2025
MUM192_0001	KZKD00000477	KZT	0,006	16,40	5,30	757 (2)	–	10.09.2025
MUM300_0001	KZKD00000725	KZT	0,062	16,00	7,90	4 778 (13)	–	10.09.2025

Finance Ministry RK

МИО

Ticker	ISIN	Date	Issued,mln KZT	Demand, %	Yield,%	TABLE.COUPON_PR	Maturity
MKM012_0161	KZK100000423	09.09.25	5 236,8	208,3	16,9200	–	246 (1)
MUM096_0014	KZKD00001228	09.09.25	13 650,4	37,6	16,9996	14,00	2 043 (6)
MUM108_0015	KZKD00001277	09.09.25	155,0	29,8	16,9500	14,50	3 057 (8)
MOM048_0056	KZK200000760	09.09.25	19 007,1	243,5	16,9791	17,01	1 408 (4)
MOM060_0052	KZK200000679	02.09.25	69 424,4	338,3	16,9000	10,50	332 (1)
MUM084_0019	KZKD00001244	02.09.25	33 011,7	123,3	17,0000	12,00	1 970 (5)
MUM096_0015	KZKD00001301	02.09.25	32 000,0	200,1	16,9450	14,45	2 793 (8)
MOM048_0056	KZK200000760	26.08.25	21 458,4	147,9	16,9887	17,01	1 421 (4)
MUM084_0020	KZKD00001285	26.08.25	65 486,9	115,1	16,9898	14,60	2 350 (7)
MUM108_0015	KZKD00001277	26.08.25	77 045,7	222,3	16,9500	14,50	3 070 (9)
MUM300_0002	KZKD00000774	19.08.25	34 013,9	252,5	16,7507	8,35	5 016 (14)
MUM180_0004	KZKD00000444	19.08.25	64 789,5	222,7	16,8685	5,50	359 (1)
MUM180_0011	KZKD00000790	19.08.25	84 646,0	291,2	16,9814	7,68	1 434 (4)
MOM048_0056	KZK200000760	12.08.25	53 349,7	222,1	17,0005	17,01	1 435 (4)
MUM096_0015	KZKD00001301	12.08.25	49 272,8	137,0	16,9697	14,45	2 813 (8)
MUM084_0020	KZKD00001285	05.08.25	38 250,3	118,9	16,9220	14,60	2 371 (7)
MKM012_0161	KZK100000423	05.08.25	38 915,5	438,2	16,8492	–	280 (1)
MOM048_0056	KZK200000760	05.08.25	63 375,0	172,3	16,8758	17,01	1 442 (4)
MUM072_0013	KZKD00001145	28.07.25	121 856,5	271,1	17,0102	10,40	651 (2)
MTC048_0001	KZKF00000012	28.07.25	29 000,0	80,8	0,0000	0,98	1 442 (4)
MUM192_0001	KZKD00000477	22.07.25	57 089,2	172,1	16,9308	5,30	807 (2)
MUM108_0015	KZKD00001277	22.07.25	6 259,0	54,3	16,8000	14,50	3 104 (9)
MUM156_0006	KZKD00000964	22.07.25	62 361,7	154,8	16,9183	8,44	2 088 (6)
MUM192_0002	KZKD00000543	15.07.25	84 727,8	1 026,4	16,8497	5,00	993 (3)
MUM180_0011	KZKD00000790	08.07.25	66 393,7	19,2	16,9692	7,68	1 475 (4)
MUM096_0015	KZKD00001301	08.07.25	23 255,0	153,2	16,9900	14,45	2 847 (8)
KZ_25_3707	XS3093658014	01.07.25	18 291,3	–	0,0000	5,50	4 320 (12)
MKM012_0161	KZK100000423	01.07.25	33 896,2	282,2	16,8806	–	314 (1)
MUM180_0009	KZKD00000717	01.07.25	53 883,6	240,4	16,8769	7,22	1 239 (3)
KZ_24_3207	XS3093655341	01.07.25	89 118,3	–	0,0000	5,00	2 520 (7)
MUM240_0001	KZKD00000550	01.07.25	20 207,5	90,4	16,6703	5,50	2 453 (7)
MOM048_0053	KZK200000711	26.06.25	16 262,5	36,1	16,8426	13,75	358 (1)
MUM096_0011	KZKD00001095	26.06.25	123 454,7	282,1	16,8821	10,47	1 201 (3)
MTM096_0001	KZKT00000057	26.06.25	81 066,1	209,5	16,8382	1,40	1 997 (6)
MUM156_0005	KZKD00000758	24.06.25	44 433,3	359,7	16,8597	7,47	716 (2)
MOM060_0054	KZK200000737	20.06.25	54 272,9	114,6	16,8618	15,35	868 (2)
MUM072_0015	KZKD00001251	20.06.25	29 158,1	135,9	16,8511	12,00	1 697 (5)
MUX072_0003	KZKB00000040	20.06.25	21 162,2	86,2	13,8000	2,50	2 081 (6)
MKM012_0160	KZK100000373	17.06.25	11 750,0	83,4	16,3202	–	229 (1)
MUM096_0011	KZKD00001095	17.06.25	78 443,5	171,3	16,7891	10,47	1 210 (3)
MUM108_0015	KZKD00001277	17.06.25	2 098,3	3,3	14,3000	14,50	3 139 (9)
MUM096_0012	KZKD00001160	10.06.25	42 880,2	193,2	16,8697	10,55	1 488 (4)
MUM180_0005	KZKD00000493	10.06.25	39 867,5	179,9	16,4013	5,00	523 (1)
MUM108_0015	KZKD00001277	10.06.25	10 464,3	20,1	14,3000	14,50	3 146 (9)
MUM180_0011	KZKD00000790	03.06.25	19 074,3	58,3	16,5692	7,68	1 510 (4)
MUM096_0015	KZKD00001301	03.06.25	20 000,0	100,0	14,4500	14,45	2 882 (8)
MUM192_0002	KZKD00000543	03.06.25	20 892,9	63,0	16,4386	5,00	1 035 (3)
MKM012_0161	KZK100000423	27.05.25	34 027,5	71,3	16,0003	–	348 (1)
MUM108_0015	KZKD00001277	27.05.25	20 827,7	62,5	14,3000	14,50	3 159 (9)
MUM180_0016	KZKD00001194	27.05.25	17 313,1	50,0	14,1000	11,05	4 201 (12)
MUM180_0009	KZKD00000717	27.05.25	18 682,7	58,3	16,3284	7,22	1 273 (4)
MUM156_0008	KZKD00001293	26.05.25	30 066,0	100,0	14,1000	14,10	4 676 (13)
MUM180_0009	KZKD00000717	20.05.25	31 927,9	98,3	15,7206	7,22	1 280 (4)
MUM156_0008	KZKD00001293	20.05.25	29 930,0	74,8	14,1000	14,10	4 682 (13)
MUM156_0006	KZKD00000964	20.05.25	29 798,6	67,3	15,5794	8,44	2 150 (6)
MUM120_0020	KZKD00001269	20.05.25	25 002,5	60,8	14,1600	14,00	3 503 (10)
MUM180_0005	KZKD00000493	20.05.25	3 908,5	19,8	15,8180	5,00	543 (2)
MKM012_0161	KZK100000423	13.05.25	1 941,1	84,6	15,5704	–	362 (1)
MUM096_0013	KZKD00001202	13.05.25	31 411,6	139,1	15,4000	11,00	1 701 (5)
MUM120_0020	KZKD00001269	13.05.25	92 325,9	225,0	14,1600	14,00	3 510 (10)
MUM180_0013	KZKD00000931	13.05.25	41 074,4	137,5	14,4500	8,66	2 841 (8)
MUM216_0002	KZKD00001079	06.05.25	57 541,3	138,3	14,1000	8,70	4 235 (12)
MUM192_0002	KZKD00000543	06.05.25	53 260,3	115,8	15,6500	5,00	1 062 (3)
MUM072_0014	KZKD00001210	06.05.25	31 976,1	107,6	15,5102	15,30	1 377 (4)
MUM108_0015	KZKD00001277	06.05.25	51 741,8	106,0	14,3000	14,50	3 180 (9)
MUM084_0020	KZKD00001285	06.05.25	61 517,9	100,0	14,6000	14,60	2 460 (7)
MKM012_0160	KZK100000373	22.04.25	19 420,0	447,2	15,5059	–	284 (1)
MUM096_0013	KZKD00001202	22.04.25	62 795,9	150,8	15,4000	11,00	1 722 (5)
MUM216_0001	KZKD00000972	22.04.25	22 542,6	113,5	14,1300	8,48	4 058 (11)
MUM072_0014	KZKD00001210	22.04.25	56 341,5	212,3	15,5000	15,30	1 391 (4)
MUM192_0001	KZKD00000477	15.04.25	85 645,8	259,0	15,5991	5,30	904 (3)
MUM120_0020	KZKD00001269	15.04.25	54 795,1	108,6	14,1597	14,00	3 538 (10)
MUM180_0013	KZKD00000931	08.04.25	39 853,6	116,4	14,4500	8,66	2 876 (8)
MUM180_0005	KZKD00000493	08.04.25	47 661,2	292,4	15,6000	5,00	585 (2)
MUM096_0013	KZKD00001202	08.04.25	70 867,2	137,3	15,4000	11,00	1 736 (5)
MUM084_0020	KZKD00001285	01.04.25	23 205,5	135,6	14,6000	14,60	2 495 (7)
MUM072_0014	KZKD00001210	01.04.25	51 081,8	103,8	15,5000	15,30	1 412 (4)
MUM180_0004	KZKD00000444	01.04.25	36 582,2	141,9	15,7800	5,50	497 (1)
MUM120_0020	KZKD00001269	28.03.25	80 907,4	101,9	14,1000	14,00	3 555 (10)
MUM132_0007	KZKD00001152	28.03.25	44 955,0	103,4	14,6000	10,65	2 638 (7)
MUM084_0020	KZKD00001285	28.03.25	70 585,4	100,0	14,6000	14,60	2 498 (7)
MUM156_0005	KZKD00000758	27.03.25	55 817,3	103,8	15,6000	7,47	803 (2)
MUX072_0003	KZKB00000040	27.03.25	60 000,0	100,0	2,5000	2,50	2 164 (6)
MUM072_0015	KZKD00001251	26.03.25	26 880,6	131,6	15,3706	12,00	1 781 (5)
MTM060_0001	KZKT00000032	26.03.25	8 307,1	80,2	15,3400	1,00	918 (3)
MUM108_0015	KZKD00001277	26.03.25	30 542,0	100,0	14,3000	14,50	3 220 (9)
MUM108_0015	KZKD00001277	18.03.25	11 996,1	40,6	14,3000	14,50	3 228 (9)
MUM084_0019	KZKD00001244	18.03.25	58 665,4	119,7	15,2404	12,00	2 134 (6)
MUM180_0008	KZKD00000659	18.03.25	18 605,0	161,2	15,5000	6,50	936 (3)

* data for the last 6 months** apostrophe indicates a repeated execution

as of 11.09.2025

Clean price

Dirty price

Yield

Ticker	Mode	Bid	Offer	Open	High	low	Last	Price change per day, %	VWAP	Deals	Volume,mln KZT	Number of days to maturity
AT_01_2006	TQOB	29,1760	38,5983	–	–	–	–	–	–	0	–	34 624
HK_01_2702	EQBD	0,9900	1,0100	–	–	–	–	–	–	0	–	526
KZ_23_3504	TQOD	98,0000	99,7500	–	–	–	–	–	–	0	–	3 447
MOM048_0052	TQOG	97,8557	98,0808	–	–	–	–	–	–	0	–	129
MOM048_0053	TQOG	97,4878	98,0750	–	–	–	–	–	–	0	–	282
MOM048_0054	TQOG	97,0293	97,7698	–	–	–	–	–	–	0	–	364
MOM048_0056	TQOG	–	101,3682	–	–	–	–	–	–	0	–	1 405
MOM060_0052	TQOG	–	95,2743	–	–	–	–	–	–	0	–	322
MOM060_0054	TQOG	96,4000	99,3983	–	–	–	–	–	–	0	–	786
MTM072_0001	TQOG	99,9728	–	–	–	–	–	–	–	0	–	1 146
MUM072_0013	TQOG	–	91,6003	–	–	–	–	–	–	0	–	607
MUM072_0014	TQOG	94,3088	96,7193	–	–	–	–	–	–	0	–	1 251
MUM072_0015	TQOG	–	86,2622	–	–	–	–	–	–	0	–	1 615
MUM084_0018	TQOG	85,8335	87,9670	–	–	–	–	–	–	0	–	930
MUM084_0019	TQOG	82,5860	84,6972	–	–	–	–	–	–	0	–	1 960
MUM084_0020	TQOG	90,3532	93,2186	–	–	–	–	–	–	0	–	2 334
MUM096_0011	TQOG	84,0413	86,2826	–	–	–	–	–	–	0	–	1 125
MUM096_0012	TQOG	81,2395	83,8202	–	–	–	–	–	–	0	–	1 396
MUM096_0013	TQOG	80,7044	83,5260	–	–	–	–	–	–	0	–	1 582
MUM096_0014	TQOG	89,0457	91,3258	–	–	–	–	–	–	0	–	2 040
MUM108_0012	TQOG	–	94,7990	94,7990	94,7990	94,7990	94,7990	+0,13	94,7990	1	0,695	291
MUM108_0013	TQOG	83,6185	85,8664	–	–	–	–	–	–	0	–	1 279
MUM108_0014	TQOG	87,9501	90,8086	–	–	–	–	–	–	0	–	2 407
MUM120_0017	TQOG	–	90,6606	–	–	–	–	–	–	0	–	534
MUM120_0018	TQOG	87,3883	90,0442	–	–	–	–	–	–	0	–	651
MUM120_0019	TQOG	76,7060	79,0251	–	–	–	–	–	–	0	–	1 985
MUM132_0007	TQOG	74,9481	77,5396	–	–	–	–	–	–	0	–	2 474
MUM144_0009	TQOG	–	76,2696	–	–	–	–	–	–	0	–	2 861
MUM156_0005	TQOG	86,2082	86,9747	–	–	–	–	–	–	0	–	638
MUM156_0006	TQOG	70,0000	71,8902	–	–	–	–	–	–	0	–	2 038
MUM156_0007	TQOG	67,8276	72,8808	–	–	–	–	–	–	0	–	3 035
MUM168_0003	TQOG	67,1395	69,5007	–	–	–	–	–	–	0	–	2 374
MUM168_0005	TQOG	66,6710	72,6645	–	–	–	–	–	–	0	–	3 418
MUM180_0005	TQOG	85,4000	–	–	–	–	–	–	–	0	–	431
MUM180_0006	TQOG	–	86,0772	–	–	–	–	–	–	0	–	555
MUM180_0011	TQOG	74,3555	75,9145	–	–	–	–	–	–	0	–	1 411
MUM180_0012	TQOG	–	73,7629	–	–	–	–	–	–	0	–	1 582
MUM180_0013	TQOG	–	68,2716	68,2716	68,2716	68,2716	68,2716	+0,04	68,2716	1	0,014	2 722
MUM180_0014	TQOG	–	67,3223	–	–	–	–	–	–	0	–	2 741
MUM180_0015	TQOG	–	73,7622	–	–	–	–	–	–	0	–	3 943
MUM180_0016	TQOG	–	74,5935	–	–	–	–	–	–	0	–	4 096
MUM192_0001	TQOG	–	81,5249	–	–	–	–	–	–	0	–	757
MUM192_0002	TQOG	–	77,2922	–	–	–	–	–	–	0	–	936
MUM216_0001	TQOG	–	62,2890	–	–	–	–	–	–	0	–	3 918
MUM240_0001	TQOG	55,9619	58,0706	58,0706	58,0706	58,0706	58,0706	+0,05	58,0706	1	0,181	2 382
MUM240_0002	TQOG	–	63,3569	–	–	–	–	–	–	0	–	3 120
MY_01_3104	EQBD	0,8900	0,9100	–	–	–	–	–	–	0	–	2 026
OM_01_2908	TQOC	99,9918	107,1129	–	–	–	–	–	–	0	–	1 399
SA_05_2704	EQBD	0,9900	1,0100	–	–	–	–	–	–	0	–	578
TR_02_2904	EQOC	100,3772	106,8888	–	–	–	–	–	–	0	–	1 304
TR_02_2904	EQEU	–	108,0000	–	–	–	–	–	–	0	–	1 304
Total										3	0,890

* the table shows only market deals without notice of specialized trades

Trading rules

11:20 – 11:30
opening auction
11:30 – 17:30
purchase and sale of securities by the continuous counter auction method
10:30 – 17:30
purchase and sale of securities by the continuous counter auction method
15:30 – 17:30
first clearing session
17:30 – 19:15
second clearing session

Information and Statistics Department

For information please contact:

infodep@kase.kz

Phones

7 (727) 237 5323

Central counterparty

Reducing systemic risks is the main function of the CCP which places increased demands on reliability of the risk management system.

Currently, "KASE Clearing Center" JSC functions as a central counterparty for transactions with all financial instruments of the derivatives market, foreign exchange and stock markets, with the exception of transactions carried out in some trading modes of the stock market, in which, for technological or other reasons, centralized clearing is not carried out.