REVIEW: KASE repo market in September 2009

/IRBIS, Dinara Mukasheva, October 2, 09/ - In September 2009 Kazakhstan Stock Exchange (KASE) repo market registered opening of 2,825 repo transactions. Volume of trades at the borrowing sum (on concluded and executed deals) made KZT777.1 bn. or USD5,150.7 m. at the current rate on dates of concluding deals, which is 57.3 % of the total volume of trades on KASE (in August - 31.6 %). Compared to August 2009 the volume of trades increased by KZT96.3 bn. ($635.3 m.) or by 14.1 %. Relative to September 2008 this indicator decreased by KZT630.5 bn. (decreased by $6,610.0 m. in dollar terms) or by 44.8 % (56.2 % in dollar terms). The exchange (calculating) turnover (is calculated on all executed opening and closing repo deals) of repo market in September 2009 made KZT1,551.4 bn. (equivalent $10,282.4 m.) and decreased by 11.6 % (11.5 % in dollar terms). Structure of repo market (on borrowing sums) at KASE in analyzed month was as follows: - the stake of automatic repo transactions was 94.5 % of volume of trades in described market sector (KZT734.2 bn.), including repo transactions in government securities (GS) - 91.8 % (KZT713.2 bn.), repo transactions in corporate securities (CS) - 2.7 % (KZT21.0 bn.); - the stake of repo transactions, conducted by nego deals method was 5.5 % of volume of trades (KZT43.0 bn.), including repo transactions in GS - 1.6 % (KZT12.6 bn.), repo transactions in CS - 3.9 % (KZT30.4 bn.). For comparison, structure of stock exchange's repo market in August, 2009 was as follows: autorepo - 91.7 % (GS - 89.0 %; CS - 2.7 %); repo by nego method - 8.3 % (GS - 1.6 %; CS - 6.4 %). Below tables are given, which characterize primary segments of repo transaction market of KASE in September 2009 (volume of trades is given on borrowing sum; information on repo transactions in CS, made by direct method (3.9 % of the market) are not published by IRBIS due to a very big volume of the table). Automatic repo deals with GS - 91.8 % 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_001 1.00 0.10 2.40 0.60 0.72 531,038.6 2,008 74.46 KZT_002 0.80 0.30 1.60 1.00 0.94 42,121.0 52 5.91 KZT_003 0.85 0.30 10.00 0.50 1.07 25,335.0 86 3.55 KZT_007 1.00 0.30 2.00 0.80 1.08 84,969.1 249 11.91 KZT_014 1.40 1.20 10.00 2.00 1.59 17,572.0 49 2.46 KZT_028 3.00 1.50 10.00 10.00 3.06 12,149.0 32 1.70 ----------- -------- ----- ----- ------- -------- --------- ------ ------ TOTAL 713,184.8 2,476 100 ------------------------------------------------------------------------- Automatic repo deals with CS - 2.7 % 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 % ----------- -------- ----- ----- ------- -------- -------- ------ ------ ATFBe2_003 5.00 5.00 5.00 5.00 5.00 49.0 1 0.23 ATFBe4_003 5.00 5.00 5.00 5.00 5.00 73.0 1 0.35 CCBN_001 8.00 7.00 8.00 7.00 7.78 64.0 4 0.31 CCBN_007 12.00 5.00 12.00 10.00 10.40 43.0 4 0.21 CCBN_030 12.00 12.00 12.00 12.00 12.00 44.0 1 0.21 CCBNb12_003 5.00 5.00 5.00 5.00 5.00 223.0 6 1.06 CCBNb14_028 10.00 10.00 10.00 10.00 10.00 50.0 1 0.24 CCBNb15_007 10.00 10.00 10.00 10.00 10.00 420.0 3 2.00 HSBK_007 5.00 5.00 6.00 6.00 5.25 4.0 2 0.02 HSBKb11_028 10.00 10.00 10.00 10.00 10.00 42.0 1 0.20 HSBKb9_014 10.00 10.00 10.00 10.00 10.00 84.0 2 0.40 HSBKe1_007 3.00 3.00 3.00 3.00 3.00 39.0 1 0.19 KIBNb3_007 8.00 8.00 8.00 8.00 8.00 50.0 5 0.24 KKGB_014 12.00 12.00 12.00 12.00 12.00 6.0 2 0.03 KZIKb10_007 10.00 10.00 10.00 10.00 10.00 280.0 2 1.34 KZTK_014 6.00 6.00 6.00 6.00 6.00 2.0 1 0.01 RDGZ_007 10.00 10.00 10.00 10.00 10.00 700.0 5 3.34 RDGZ_028 12.00 12.00 12.00 12.00 12.00 493.1 7 2.35 RGBRb4_001 9.00 9.00 9.00 9.00 9.00 45.0 1 0.21 RGBRb4_007 12.00 12.00 12.00 12.00 12.00 80.0 1 0.38 RGBRb4_014 14.00 14.00 14.00 14.00 14.00 22.0 3 0.10 RGBRb5_001 9.00 9.00 9.00 9.00 9.00 41.0 1 0.20 RGBRb5_003 9.00 9.00 9.00 9.00 9.00 41.0 1 0.20 RGBRb5_007 8.00 8.00 14.00 14.00 9.00 54.0 2 0.26 TSBN_001 5.00 5.00 5.00 5.00 5.00 15,867.0 68 75.66 TSBN_007 9.50 9.50 12.50 10.00 10.01 1,830.0 25 8.73 TSBN_014 12.50 10.50 12.50 10.50 11.72 51.0 2 0.24 TSBN_030 12.00 12.00 12.00 12.00 12.00 15.0 1 0.07 TSBNb5_007 15.00 15.00 15.00 15.00 15.00 258.0 4 1.23 ----------- -------- ----- ----- ------- -------- -------- ------ ------ TOTAL 20,970.1 158 100 ------------------------------------------------------------------------ Direct repo deals with GS - 1.6 % 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 1.92 0 1.92 0 1.43 894.1 2 7.10 1 0.50 0.50 0.50 0.50 0.50 107.0 1 0.85 2 0.50 0.50 0.50 0.50 0.50 1,795.2 4 14.26 3 0 0 0.50 0.50 0.36 479.3 2 3.81 5 8.00 8.00 8.00 8.00 8.00 296.0 1 2.35 6 8.00 8.00 8.00 8.00 8.00 175.4 1 1.39 7 8.00 0.01 8.00 0.01 1.51 989.5 5 7.86 11 8.00 0.50 8.00 0.50 3.59 412.9 2 3.28 13 0 0 0 0 0 10.3 1 0.08 14 8.01 0.50 8.01 0.50 2.26 1,296.5 5 10.30 15 0.53 0.53 0.53 0.53 0.53 1,761.8 3 13.99 17 0.62 0.62 0.62 0.62 0.62 764.8 4 6.07 21 0.17 0.17 0.17 0.17 0.17 1,030.8 6 8.19 22 0.02 0.02 0.02 0.02 0.02 937.0 3 7.44 30 1.22 1.22 1.22 1.22 1.22 872.8 1 6.93 35 0 0 0 0 0 767.0 3 6.09 ------- -------- ----- ----- ------- -------- -------- ------ ------ TOTAL 12,590.3 44 100 -------------------------------------------------------------------- [2009-10-02]