REVIEW: KASE repo market in July 2009

/IRBIS, Dinara Mukasheva, August 10, 09/ - In July 2009 Kazakhstan Stock Exchange (KASE) repo market registered opening of 2,491 repo transactions. Volume of trades at the borrowing sum (on concluded and executed deals) made KZT949.0 bn. or USD6,299.6 m. at the current rate on dates of concluding deals, which is 36.5 % of the total volume of trades on KASE (in June - 38.0 %). Compared to June 2009 the volume of trades increased by KZT148.1 bn. ($972.0 m.) or by 18.5 % (18.2 % in dollar terms). Relative to July 2008 this indicator decreased by KZT160.6 bn. (decreased by $2,927.0 m. in dollar terms) or by 14.5 % (31.7 % in dollar terms). The exchange (calculating) turnover (is calculated on all executed opening and closing repo deals) of repo market in July 2009 made KZT1,882.8 bn. (equivalent $12 498,2 m.) and decreased by 18.4 % (by 18.1 % in dollar terms) relative to the previous month. Structure of repo market (on borrowing sums) at KASE in analyzed month was as follows: - the stake of automatic repo transactions was 91.5 % of volume of trades in described market sector (KZT868.6 bn.), including repo transactions in government securities (GS) - 89.4 % (KZT848.8 bn.), repo transactions in corporate securities (CS) - 2.1 % (KZT19.7 bn.); - the stake of repo transactions, conducted by nego deals method was 8.5 % of volume of trades (KZT80.4 bn.), including repo transactions in GS - 2.4 % (KZT22.4 bn.), repo transactions in CS - 6.1 % (KZT58.0 bn.). For comparison, structure of stock exchange's repo market in June, 2009 was as follows: autorepo - 91.1 % (GS - 88.2 %; CS - 7.0 %); repo by nego method - 8.9 % (GS - 1.9 %; CS - 7.0 %). Below tables are given, which characterize primary segments of repo transaction market of KASE in July 2009 (volume of trades is given on borrowing sum; information on repo transactions in CS, made by direct method (6.1 % of the market) are not published by IRBIS due to a very big volume of the table). Automatic repo deals with GS - 89.4 % of the market ------------------------------------------------------------------------- Yield, % APR Instrument ------------------------------------- Volume, Num- Market (currency, on first mini- maxi- on last weighted KZT ber of share, term, days) deal mum mum deal average m. deals % ----------- -------- ----- ----- ------- -------- --------- ------ ------ KZT_000 1.00 0.20 2.00 0.20 1.12 1,537.0 7 0.18 KZT_001 1.00 0.10 3.00 0.70 1.05 614,548.6 1496 72.40 KZT_002 1.00 0.40 1.80 1.15 1.05 28,202.0 32 3.32 KZT_003 2.25 0.90 2.50 1.10 1.50 51,501.2 174 6.07 KZT_007 2.90 1.10 3.50 2.00 2.21 120,237.1 232 14.16 KZT_014 3.70 2.00 10.00 3.00 3.54 16,771.0 33 1.98 KZT_028 4.50 3.25 4.50 3.25 3.94 16,047.0 55 1.89 ----------- -------- ----- ----- ------- -------- --------- ------ ------ TOTAL 848,843.9 2029 100 ------------------------------------------------------------------------- Automatic repo deals with CS - 2.1 % of the market ------------------------------------------------------------------------ Yield, % APR Instrument ------------------------------------- Volume, Num- Market (security, on first mini- maxi- on last weighted m. ber of share, term, days) deal mum mum deal average KZT deals % ----------- -------- ----- ----- ------- -------- -------- ------ ------ ATFBb4_007 7.00 7.00 8.00 8.00 7.94 484.0 6 2.45 ATFBe4_001 3.00 3.00 3.00 3.00 3.00 60.0 2 0.30 CCBN_001 7.00 7.00 7.00 7.00 7.00 52.0 3 0.26 CCBN_007 12.50 12.50 12.50 12.50 12.50 42.0 3 0.21 CCBN_014 12.50 12.50 12.50 12.50 12.50 14.0 1 0.07 CCBN_030 13.00 13.00 13.00 13.00 13.00 32.0 3 0.16 CCBNb13_007 9.00 7.50 9.00 7.50 8.53 102.0 2 0.52 CCBNb13_028 12.50 12.50 12.50 12.50 12.50 63.0 1 0.32 CCBNb14_028 10.00 10.00 10.00 10.00 10.00 50.0 1 0.25 CCBNb15_007 10.00 10.00 10.00 10.00 10.00 700.0 5 3.55 HSBK_028 13.00 13.00 13.00 13.00 13.00 2.0 1 0.01 HSBKb11_028 10.00 10.00 10.00 10.00 10.00 42.0 1 0.21 HSBKb9_014 10.00 10.00 10.00 10.00 10.00 84.0 2 0.43 KIBNb3_014 10.00 10.00 10.00 10.00 10.00 5.0 2 0.03 KKGB_007 7.00 7.00 7.00 7.00 7.00 11.0 1 0.06 KKGBe4_007 12.50 12.50 12.50 12.50 12.50 38.0 2 0.19 KKGBe4_028 11.00 11.00 11.00 11.00 11.00 43.0 2 0.22 KKGBe6_003 15.00 15.00 15.00 15.00 15.00 50.0 1 0.25 RDGZ_007 10.00 10.00 10.00 10.00 10.00 700.0 5 3.55 RDGZ_014 8.00 8.00 8.00 8.00 8.00 1.0 1 0.01 RDGZ_028 12.00 12.00 12.00 12.00 12.00 419.1 7 2.12 RGBRb4_028 14.00 14.00 14.00 14.00 14.00 119.0 2 0.60 TSBN_001 5.00 4.25 5.00 5.00 4.98 12,077.0 72 61.23 TSBN_007 10.00 9.00 10.00 9.50 9.83 2,452.0 32 12.43 TSBN_014 11.00 11.00 11.00 11.00 11.00 52.0 2 0.26 TSBN_030 12.50 12.50 12.50 12.50 12.50 31.0 1 0.16 TXBNb2_001 4.00 2.00 7.00 2.00 4.15 1,886.0 25 9.56 TXBNb2_007 9.00 6.00 9.00 8.00 7.22 114.0 3 0.58 ----------- -------- ----- ----- ------- -------- -------- ------ ------ TOTAL 19,725.1 189 100 ------------------------------------------------------------------------ Direct repo deals with GS - 2.4 % of the market -------------------------------------------------------------------- Yield, % APR Term of ------------------------------------- Volume, Num- Market repo, on first mini- maxi- on last weighted m. ber of share, days deal mum mum deal average KZT deals % ------- -------- ----- ----- ------- -------- -------- ------ ------ 0 0 0 0.61 0.61 0.19 188.0 2 0.84 1 5.00 5.00 5.00 5.00 5.00 325.0 4 1.45 2 0.25 0.25 20.00 3.50 3.08 886.9 6 3.96 3 0.50 0.50 4.00 4.00 2.60 1,737.8 7 7.76 4 0.50 0.50 0.50 0.50 0.50 746.0 4 3.33 5 12.00 12.00 12.00 12.00 12.00 56.1 1 0.25 6 0.50 0.50 0.50 0.50 0.50 1,866.3 5 8.33 7 8.00 7.98 8.04 8.04 8.01 716.5 4 3.20 12 4.77 4.77 4.77 4.77 4.77 50.7 1 0.23 13 0.50 0.50 0.50 0.50 0.50 177.0 1 0.79 14 0.50 0.50 5.00 5.00 0.67 1,327.4 7 5.92 18 0.50 0.50 0.50 0.50 0.50 1,794.5 4 8.01 19 0.50 0.50 0.50 0.50 0.50 93.4 1 0.42 20 0.50 0.50 0.50 0.50 0.50 167.5 1 0.75 21 0.50 0.43 0.50 0.50 0.48 1,345.1 4 6.00 24 0.50 0.50 0.50 0.50 0.50 553.1 2 2.47 28 0.48 0.48 0.48 0.48 0.48 272.6 2 1.22 31 0 0 0.11 0.11 0.04 7,550.2 18 33.70 33 0 0 0.001 0.001 0.0003 1,112.3 5 4.96 36 0 0 0 0 0 797.1 3 3.56 38 0.50 0.50 0.50 0.50 0.50 242.6 1 1.08 42 0 0 0 0 0 400.0 4 1.79 ------- -------- ----- ----- ------- -------- -------- ------ ------ TOTAL 22,406.0 87 100 -------------------------------------------------------------------- [2009-08-10]