REVIEW: KASE repo market in June 2011

/IRBIS, July 7, 2011/ - In June 2011, the repo market operations of Kazakhstan Stock Exchange (KASE) recorded the opening 1,485 repo transactions. Trading volume on the amount of involvement (by the execution and fulfillment transactions) amounted to KZT1,154.2 billion or USD7,914.3 million at the current rate at the date of the transaction, representing 52.1% of the total trading volume on KASE (in May 2011 - 52.9%). Compared with May 2011, trading volume in the sector increased by KZT77.5 billion (in dollar terms - by $515.8 million), or by 7.2% in tenge and in dollar terms - 7.0%. Relative to June 2010 this figure rose by KZT104.5 billion ($777.0 million) or 10.0% (10.9% in dollar terms). The Exchange (calculated) turnover (calculated on all executed transactions of opening and closing repo) market repo operations in May 2011 amounted to KZT 2,282.8 billion (equivalent to $15,651.3 million) and increased relative to the previous month by 6.5% (equivalent to US$ - 6.2%). The structure of the repo market (in terms of attraction) on KASE in the analyzed month as follows: - the share of repo transactions carried out by "automatic" way, had 99.94% of the trades described in the exchange market sector (KZT 1,153.5 billion), including repo operations with government securities (GS) - 99.48% (KZT 1,148.2 billion) for repo transactions with corporate securities (CS) - 0.45% (KZT5.2 billion); - the share of repo transactions carried out by "direct" method, had 0.06% of trade volume (KZT724.6 million), including GS - 0.001% (KZT 9.6 mln), CS - 0.06% (715.1 million) For comparison, the structure of the exchange market repo operations in May 2011 was characterized by the following indicators: repo transactions undertaken by the "automatic" way - 99.99% (GS - 99.68%; CS - 0.31%) repo transactions carried out, "direct" method - 0.01% (all of the operations took place in the CS). Below is a table describing the major segments of the market repo on KASE in June 2011 Automatic repo deals with GS - 99.48 % 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 0.20 0.20 0.20 2,400.0 1 0.21 KZT_001 0.10 0.05 0.80 0.50 0.17 618,681.2 760 53.88 KZT_002 0.20 0.10 0.50 0.50 0.18 46,090.0 66 4.01 KZT_003 0.25 0.10 0.60 0.10 0.28 21,954.0 50 1.91 KZT_007 0.30 0.15 1.00 0.80 0.28 428,443.1 396 37.31 KZT_014 1.20 0.40 1.20 1.20 0.58 21,243.0 33 1.85 ----------- -------- ----- ----- ------- -------- ----------- ------ ------ TOTAL 1,148,243.3 1,337 100 --------------------------------------------------------------------------- Automatic repo deals with CS - 0.45% ----------------------------------------------------------------------- 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 % CCBN_007 5.00 4.00 5.00 4.00 4.07 502.0 7 9.60 CCBN_014 4.00 4.00 4.00 4.00 4.00 498.0 7 9.53 CCBN_030 7.00 6.00 7.00 6.00 6.61 145.0 14 2.77 HSBK_028 6.00 5.00 6.00 5.00 5.14 28.0 3 0.54 HSBKp_014 3.70 3.70 3.70 3.70 3.70 420.0 6 8.03 HSBKp_028 3.63 3.63 3.63 3.63 3.63 220.0 3 4.21 KKGB_028 7.00 6.00 7.00 6.00 6.55 41.0 4 0.78 KMGZb4_028 4.00 4.00 4.00 4.00 4.00 100.0 1 1.91 KZTK_001 6.00 6.00 6.00 6.00 6.00 9.0 1 0.17 KZTK_028 6.00 5.00 6.00 5.00 5.19 26.0 5 0.50 KZTKp_007 8.00 8.00 8.00 8.00 8.00 4.0 1 0.08 KZTKp_028 6.00 5.00 6.15 5.00 5.97 64.0 9 1.22 RDGZ_028 5.00 5.00 6.00 6.00 5.07 15.0 4 0.29 SKKZb22_028 4.00 4.00 4.00 4.00 4.00 245.0 1 4.69 TSBN_007 8.00 8.00 8.00 8.00 8.00 1,269.0 25 24.27 TSBN_014 8.00 8.00 8.00 8.00 8.00 111.0 1 2.12 TSBN_030 8.00 8.00 8.00 8.00 8.00 500.0 10 9.56 TXBNb5_001 2.50 2.50 2.50 2.50 2.50 1,031.0 10 19.72 TOTAL 5m228.1 112 100 ----------------------------------------------------------------------- Direct repo deals with GS -0.001% 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 % ------- -------- ----- ----- ------- -------- ------- ------ ------ 5 7.00 7.00 7.00 7.00 7.00 9.6 1 5 ------- -------- ----- ----- ------- -------- ------- ------ ------ TOTAL 9.6 1 100 ------------------------------------------------------------------- Direct repo deals with CS - 0.06% ------------------------------------------------------------------ Rate, % APR Repo- Term ----- ----- ------- -------- volume, Num- Market Object Of repo mini- maxi- on last weighted mln ber of share, Days mum mum deal average KZT Deals % ------- ------- ----- ----- ------- -------- ------- ------ ------ BSUL 1 20.18 20.18 20.18 20.18 22.5 1 0.03 3 20.18 20.18 20.18 20.18 30.5 1 0.04 5 20.18 20.18 20.18 20.18 25.5 1 0.04 6 20.18 20.18 20.18 20.18 35.5 1 0.05 8 20.18 20.18 20.18 20.18 215.0 2 0.30 ------- ------- ----- ----- ------- -------- ------- ------ ------ Total 328.9 6 0.46 ------- ------- ----- ----- ------- -------- ------- ------ ------ CCBN 88 14.00 14.00 14.00 14.00 0.5 1 0.00 EXBNb1 21 7.00 7.00 7.00 7.00 9.9 1 0.01 GB_ENRC 30 10.00 10.00 10.00 10.00 3.1 2 0.00 HSBK 13 25.01 25.01 25.01 25.01 14.5 1 0.02 ------- ------- ----- ----- ------- -------- ------- ------ ------ KKGB 10 24.98 24.98 24.98 24.98 4.2 1 0.01 88 14.00 14.00 14.00 14.00 0.5 1 0.00 ------- ------- ----- ----- ------- -------- ------- ------ ------ Total 4.7 2 0.01 ------- ------- ----- ----- ------- -------- ------- ------ ------ KZTK 0 0.00 0.00 0.00 0.00 9.0 1 0.01 10 25.00 25.00 25.00 25.00 22.8 1 0.03 14 16.00 16.00 16.00 16.00 3.0 1 0.004 ------- ------- ----- ----- ------- -------- ------- ------ ------ Total 34.8 3 0.05 ------- ------- ----- ----- ------- -------- ------- ------ ------ NRBN 15 25.00 25.00 25.00 25.00 7.5 1 0.01 ------- ------- ----- ----- ------- -------- ------- ------ ------ RDGZ 1 10.00 15.01 14.99 12.83 38.7 4 0.05 15 25.00 25.00 25.00 25.00 9.2 1 0.01 ------- ------- ----- ----- ------- -------- ------- ------ ------ Total 47.9 5 0.07 ------- ------- ----- ----- ------- -------- ------- ------ ------ RDGZp 1 5.01 15.00 14.99 12.04 124.9 6 0.17 4 15.00 15.00 15.00 15.00 26.9 1 0.04 6 12.00 12.00 12.00 12.00 20.6 1 0.03 10 9.00 9.00 9.00 9.00 17.0 1 0.02 ------- ------- ----- ----- ------- -------- ------- ------ ------ Total 189.3 9 0.26 ------- ------- ----- ----- ------- -------- ------- ------ ------ TSBN 13 25.01 25.01 25.01 25.01 11.8 1 0.02 17 25.01 25.01 25.01 25.01 22.0 1 0.03 ------- ------- ----- ----- ------- -------- ------- ------ ------ Total 33.8 2 0.05 ------- ------- ----- ----- ------- -------- ------- ------ ------ TSBNb5 7 5.14 5.14 5.14 5.14 20.0 1 0.03 16 9.47 9.47 9.47 9.47 20.0 1 0.03 ------- ------- ----- ----- ------- -------- ------- ------ ------ Total 40.0 2 0.06 ------- ------- ----- ----- ------- -------- ------- ------ ------ TOTAL 715.1 35 100 ------------------------------------------------------------------ [2011-07-07]