AVMEKAM market-maker keeps working at KASE

/IRBIS, Jan.10, 00/ - As it was informed earlier, on November 02, 1999 by the decision of the Board of KASE CJSC "Gosudarstvennyi nakopitelnyi pensionnyi fond" (Almaty, Kazakhstan) was given a status of a market-maker on special state currency bonds (AVMEKAM, KZ55L0804A42, trade code ABM060.001) from November 03, 1999 through January 1, 2000. Since then, GNPF honestly fulfills its duties, and thanks to this volume of operations in AVMEKAM (almost illiquid paper) in November reached KZT1,245.1 mln at the Exchange. So far, KASE has not received any petition from GNPF to extend its market- maker status in 2000. However, the fund continues to quote AVMEKAM regularly on the trades, which leaves hope for a submission of the petition in near future. Today AVMEKAM was offered by GNPF at 10.77% APR at the demand of 11.71% APR. Presently, four market-makers on different financial instruments work at KASE: - OJSC "KAZKOMMERTSBANK" (specialist on its own bonds KKGBb); - CJSC "Gosudarstvennyi nakopitelnyi pensionnyi fond" (market-maker of AVMEKAM); - LLP "TuranAlem Securities" (specialist on common shares of CJSC "Bank TuranAlem"); - OJSC "Bank TuranAlem" (market-maker of the U.S. dollar). At KASE a specialist is a variation of a market-maker.