REVIEW: KASE repo market in December 2009

/IRBIS, January 10, 2010/ - In December, 2009 the market repo operations Kazakhstan Stock Exchange (KASE) recorded the opening 1,626 repo transactions. Trading volume on the amount of involvement (by the execution and fulfillment transactions) amounted to KTZ 781.6 billion or $ 5,258.1 million at the current rate at the date of the transaction, representing 33.5% of the total trading volume on KASE (in November - 22.5%). Compared with November 2009 the volume of trading in the sector increased by 185.1 billion (in dollar terms - of $ 1,271.4 million) or 31.0% (in dollar terms - by 31.9%). Relatively December 2008 this figure dropped to KZT 962.0 billion ($ 9,199.9 million) or 55.2% (63.6%). Stock (estimated), turnover (calculated on all transactions executed opening and closing repo) market repo operations in December 2009 amounted to KZT 1,516.4 billion (equivalent to 10,200.9 million U.S. dollars), and grew up on the previous month at 28.2% (29.1% in dollar terms). Structure of the repo market transactions (by Amount raised) on KASE in the sample month was as follows: - share of repo transactions carried out by automatic way, had 99.1% of the trades described in the sector of the stock market (774.9 billion tenge), including repo operations with government securities (GS) - 97, 4% (KZT 761.2 billion), the repo transaction with non-issue securities (SS) - 1.8% (KZT 13.8 billion); - share of repo transactions carried out by direct manner, had 0.9% of trading volume (KZT 6.7 billion), including repo operations with government securities - 0.6% (KZT 4.7 billion), for repo operations with CS - 0.3% (KZT 2.0 billion). For comparison, the structure of the stock market repo operations in November 2009 was characterized by the following indicators: repo operations carried out by "automatic" way - 97.3% (GS - 95.8%; CS - 1.5%); repo operations carried out, "direct" method - 2.7% (GS - 2.3%; CS - 0.3%). Below is a table describing the main market segments of repo KASE in December 2009 (trading volume is the sum of attraction, information on repo transactions with the securities, the implementation of "direct" method (0.3% of the market) will not be published IRBIS because of the very large volume table). Automatic repo deals with GS - 97.4 % 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 0.20 0.20 0.30 0.30 0.21 1,931.0 22 0.25 KZT_001 0.40 0.01 2.00 0.50 0.32 379,648.2 872 49.88 KZT_002 0.40 0.10 1.00 0.20 0.25 76,037.0 41 9.99 KZT_003 0.40 0.10 0.50 0.20 0.25 47,080.0 51 6.19 KZT_007 0.40 0.20 1.00 0.36 0.32 192,290.0 198 25.26 KZT_014 0.80 0.40 1.00 0.60 0.66 51,321.0 88 6.74 KZT_028 1.60 0.60 5.00 0.90 1.38 12,851.0 63 1.69 ----------- -------- ----- ----- ------- -------- --------- ------ ------ Total 761,158.3 1 335 100 ------------------------------------------------------------------------- Automatic repo deals with CS - 1.8 % 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 % ----------- -------- ----- ----- ------- -------- -------- ------ ------ ATFBb6_001 5.00 5.00 5.50 5.00 5.00 6,007.0 80 43.61 ATFBb6_007 7.50 5.50 7.50 7.00 6.79 246.0 5 1.79 ATFBb6_014 9.00 9.00 9.00 9.00 9.00 22.0 1 0.16 BTTRb1_014 17.00 17.00 17.00 17.00 17.00 30.0 1 0.22 CCBN_001 6.00 5.00 6.00 5.00 5.52 438.0 8 3.18 CCBN_007 7.50 6.50 7.50 6.50 6.97 19.0 3 0.14 CCBN_014 7.50 7.50 7.50 7.50 7.50 20.0 2 0.15 CCBNb14_028 10.00 10.00 10.00 10.00 10.00 50.0 1 0.36 CCBNb15_003 10.00 10.00 10.00 10.00 10.00 60.0 1 0.44 CCBNb15_007 10.00 10.00 10.00 10.00 10.00 180.0 3 1.31 CCBNb4_001 5.00 5.00 5.00 5.00 5.00 354.0 6 2.57 CCBNb4_003 5.50 5.50 5.50 5.50 5.50 59.0 1 0.43 CCBNb4_014 9.00 9.00 9.00 9.00 9.00 59.0 1 0.43 EUBNb3_001 5.00 5.00 5.00 5.00 5.00 679.0 17 4.93 EUBNb3_003 5.50 5.50 5.50 5.50 5.50 36.0 2 0.26 EUBNb3_007 6.00 6.00 6.00 6.00 6.00 36.0 3 0.26 GB_ENRC_001 5.00 5.00 5.00 5.00 5.00 13.0 1 0.09 GB_ENRC_014 10.00 10.00 10.00 10.00 10.00 20.0 1 0.15 GB_ENRC_028 13.00 8.00 13.50 8.00 12.58 42.0 5 0.30 HSBK_001 5.50 5.00 5.50 5.50 5.35 27.0 4 0.20 HSBKb11_028 10.00 10.00 10.00 10.00 10.00 42.0 1 0.30 HSBKb13_001 5.00 5.00 5.00 5.00 5.00 33.0 2 0.24 HSBKb13_003 5.50 5.50 5.50 5.50 5.50 33.0 1 0.24 KIBNb3_014 13.50 8.00 13.50 8.00 10.65 27.0 4 0.20 KKGB_001 5.50 5.00 5.50 5.00 5.42 245.0 7 1.78 KKGB_007 8.00 8.00 8.00 8.00 8.00 16.0 1 0.12 KKGB_014 13.00 13.00 13.00 13.00 13.00 3.0 1 0.02 KZIKb10_003 10.00 10.00 10.00 10.00 10.00 200.0 2 1.45 KZIKb10_007 10.00 10.00 10.00 10.00 10.00 600.0 6 4.36 KZTKp_001 5.00 5.00 5.50 5.00 5.17 27.0 3 0.20 KZTKp_007 10.00 10.00 10.00 10.00 10.00 3.0 1 0.02 KZTKp_028 13.00 13.00 13.00 13.00 13.00 13.0 2 0.09 RDGZ_003 10.00 10.00 10.00 10.00 10.00 200.0 2 1.45 RDGZ_007 10.00 10.00 10.00 10.00 10.00 600.0 6 4.36 RDGZ_028 12.00 12.00 12.00 12.00 12.00 448.1 6 3.25 TSBN_001 5.00 5.00 12.50 12.50 5.35 1,123.0 8 8.15 TSBN_007 10.00 10.00 12.50 10.00 10.18 932.0 13 6.77 TSBN_014 10.00 10.00 12.50 12.50 10.11 572.0 6 4.15 TSBNb5_007 15.00 15.00 15.00 15.00 15.00 213.0 3 1.55 TSBNb5_030 15.00 15.00 15.00 15.00 15.00 6.0 1 0.04 TXBNb2_001 5.00 5.00 5.00 5.00 5.00 40.0 2 0.29 ----------- -------- ----- ----- ------- -------- -------- ------ ------ Total 13,773.2 224 100 ------------------------------------------------------------------------ Direct repo deals with GS - 0.6% 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 0 0 0 0 0 204.4 1 4.38 1 3.50 3.50 3.50 3.50 3.50 1,045.7 5 22.41 2 3.00 3.00 3.00 3.00 3.00 1,595.1 3 34.19 4 0.50 0.50 9.20 9.20 8.11 970.5 8 20.80 13 0.001 0.001 0.001 0.001 0.001 849.8 7 18.21 ------- -------- ----- ----- ------- -------- ------- ------ ------ Total 4,665.5 24 100 ------------------------------------------------------------------- [2009-01-10]