KASE and IRBIS have changed algorithm of bonds' coupon yield calculation

/IRBIS, March 15, 00/ - Since March 15 of the current year the Kazakhstan Stock Exchange (KASE) has changed the algorithm of calculation of the yield of coupon bonds, which are traded on Exchange in the sectors of State Securities (SS) and Private Securities (PS). Before the yields were calculated using an simplified algorithm allowing to evaluate complete settlement yield only approximately proceeding from the net (disregarding of saved interest) quotations and transactions prices, expressed as the percentage of the nominal value of security or traded debt. Nowadays KASE experts have maintained an algorithm, which gives the results practically identical to one calculated by the financial calculator or by the REUTERS and BLOOMBERG financial systems. The received results are completely comparable to the ISMA data concerning euronotes of Kazakhstan. The algorithm is realized in the KASE and IRBIS trades computer systems; using the algorithm the yields of the bonds traded during 2000 have been recounted. The algorithm allows to calculate the data at the reporting and analytical forms creation more correctly. Thus, the IRBIS Agency warns that, since March 15 the yield calculated for the earlier concluded deals could differ from published before.