REVIEW: KASE repo market in June 2010
/IRBIS, July 15, 2010/ - In June 2010, the repo market operations of Kazakhstan Stock Exchange (KASE) recorded the opening 1,306 repo transactions. Trading volume on the amount of involvement (by the execution and fulfillment transactions) amounted to KZT1,049.7 billion or USD7,137.3 million at the current rate at the date of the transaction, representing 49.7% of the total trading volume on KASE (in May 2010 - 53.7%).
In comparison to May 2010 trading volume in the sector grew by KZT72.9 billion (in dollar terms - to USD516.4 million), or 6.5% in tenge or 6.7% in dollar terms. With regard to June 2009 this figure rose to KZT248.7 billion (USD1,809.7 million) or 31.1% (34.0% in dollar terms).
Stock (calculated) turnover (calculated on all executed transactions for opening and closing repo) market repo operations in June 2010 amounted to KZT2,153.3 billion (equivalent of 14,642.2 million U.S. dollars), and grew up on the previous month to 3.7% in tenge or dollar equivalents.
The structure of the repo market (on amounts borrowed funds) on KASE in the analyzed month as follows:
- Share of repo transactions carried out by "automatic" way, had 99.9% of the trades described in the sector of the stock market (KZT1,048.7 billion), including repo operations with government issued securities (GSB) - 98.9% (KZT1,038.1 billion), on repo operations with non-equity securities (NCB) - 0.1% (KZT10.6 billion);
- Share of repo transactions carried out by "direct" manner, had 0.1% of the volume of trades (KZT1.0 billion), including repo operations with government securities GCB - 0.09% (KZT895.8 billion), for repo operations with NCB - 0.01% (KZT92.2 billion).
In comparison, the structure of the stock market repo operations in May 2010 was characterized by the following indicators: repo operations carried out by "automatic" way - 99.8% (GS - 99.2%; NCBs - 0.6%); repo operations carried out, "direct" method - 0.2% (GS - 0.17%; NCBs - 0.03%).
Below is a table describing the major segments of the market repo KASE in June 2010 (the trading volume is the sum of attraction, information on repo transactions with securities, the implementation of "direct" method (0.01% market share), will not be published IRBIS due to a very large volume table).
Automatic repo deals with GS - 98.9 % of the market
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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 0.90 0.45 0.90 0.50 0.65 2,257.0 6 0.22
KZT_001 0.15 0.05 1.99 1.99 0.23 813,333.1 878 78.35
KZT_002 0.30 0.21 0.30 0.26 0.26 35,200.0 16 3.39
KZT_003 0.30 0.20 0.50 0.20 0.25 64,775.0 47 6.24
KZT_007 0.30 0.20 1.50 0.29 0.35 111,985.0 164 10.79
KZT_014 2.00 0.30 2.00 1.00 0.56 3,471.0 22 0.33
KZT_028 2.00 1.00 2.00 1.00 1.71 7,079.0 32 0.68
----------- -------- ----- ----- ------- -------- ----------- ------ ------
TOTAL 1,038,100.2 1,165 100
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Automatic repo deals with CS - 1 % of the market
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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 %
----------- -------- ----- ----- ------- -------- -------- ------ ------
ATFBb7_001 2.50 1.00 3.00 1.00 2.01 3,729.0 21 35.28
ATFBb7_002 4.00 4.00 4.00 4.00 4.00 309.0 1 2.92
ATFBb7_003 1.00 1.00 1.00 1.00 1.00 170.0 1 1.61
BRKZe4_028 8.00 8.00 8.00 8.00 8.00 23.0 1 0.22
CCBN_007 8.00 8.00 8.00 8.00 8.00 4.0 1 0.04
CCBN_014 10.00 0.50 10.00 8.00 6.42 53.0 5 0.50
CCBN_030 15.00 10.00 16.00 11.00 11.41 44.0 4 0.42
CCBNb15_007 10.00 10.00 10.00 10.00 10.00 800.0 8 7.57
CCBNb4_001 4.50 4.50 4.50 4.50 4.50 64.0 1 0.61
CCBNb6_028 8.00 8.00 8.00 8.00 8.00 71.0 4 0.67
CCBNb7_001 8.00 8.00 8.00 8.00 8.00 24.0 2 0.23
KIBNb3_007 8.00 8.00 8.00 8.00 8.00 25.0 3 0.24
KIBNb3_014 8.00 8.00 8.00 8.00 8.00 4.0 1 0.04
KIBNb3_028 8.00 8.00 8.00 8.00 8.00 56.0 2 0.53
KKGB_007 10.00 10.00 10.00 10.00 10.00 5.0 1 0.05
KZIKb20_001 10.00 2.50 10.00 2.50 2.59 79.0 2 0.75
KZTK_014 0.50 0.50 8.00 8.00 4.07 63.0 2 0.60
KZTK_028 8.00 8.00 11.00 11.00 8.79 19.0 2 0.18
KZTKp_007 11.00 11.00 14.00 13.00 13.00 8.0 3 0.08
KZTKp_028 10.00 10.00 13.00 11.00 11.22 18.0 5 0.17
RDGZ_007 10.00 10.00 10.00 10.00 10.00 810.1 9 7.66
RDGZ_014 8.00 8.00 8.00 8.00 8.00 9.0 1 0.09
TSBN_007 10.00 10.00 12.00 10.00 10.02 3,427.0 33 32.42
TSBN_014 10.00 8.00 10.00 8.00 9.60 626.0 5 5.92
TSBN_030 10.00 10.00 10.00 10.00 10.00 109.0 1 1.03
TSBNb5_030 13.00 13.00 13.00 13.00 13.00 18.0 2 0.17
----------- -------- ----- ----- ------- -------- -------- ------ ------
TOTAL 10,571.1 122 100
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Direct repo deals with GS -0.2% of the market
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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 %
------- -------- ----- ----- ------- -------- ------- ------ ------
1 1.50 0.35 1.50 0.35 1.12 541.8 5 60.48
4 0.35 0.35 0.35 0.35 0.35 88.4 1 9.87
5 0.60 0.60 0.60 0.60 0.60 265.6 2 29.65
------- -------- ----- ----- ------- -------- ------- ------ ------
TOTAL 895.8 8 100
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[2010-07-15]