KAZCOMMERC SECURITIES OJSC received the specialist status of KazTransOil CJSC domestic bonds and euronotes at KASE

/IRBIS, Nov 05, 01/ - From November 06, 2001, by the decision of the Exchange council of the Kazakhstan Stock Exchange (KASE) KAZCOMMERC SECURITIES CJSC (Almaty) was granted a specialist status for the following securities of KAZTRANSOIL CJSC (Astana; services on oil transportation): - first issue coupon bonds (KZ73LAONAA35, official list of securities of KASE category "А", KZTOb1, $30m, $100, Oct 23,00 - Oct 23,03, semiannual coupon 9,0% APR); - first issue euronotes (XS0132391938, official list of securities of KASE category "А", KZTOe1, $150m, July 06,01 - July 06,06, 8,5% APR). Minimum volume of mandatory quotations for the specialist - 50.000 US dollars at face value of bonds and euronotes. Currently delegations of market-maker KZTOb1 at KASE are performed by TuranAlem Securities LLP (Almaty), AMB CJSC (Almaty) has a status of specialist of these securities, having besides a status of market-maker KZTOe1. Also CAZCOMMERC SECURITIES CJSC performed role of market-maker of KZTOb1 at KASE. According to internal normative act of KASE "Specification of market- maker status for members of the Exchange under categories "P" and "Н" (Specification), from the moment of activation of the specialist status on specific security market-makers of this security automatically lose privileges on payment of commission, set by item 19 of article7 of Specification (market-makers pay to the exchange decreased commission in the amount of 50% from existing at KASE on this type of security commission rate). Privileges are automatically restored on stock or bond, after losing of the status by last specialist on this type of security. Specialist of securities at KASE differs from the market-maker by more strict requirements, which are set by the exchange relative to volume of mandatory quotation and especially upon spreads of mandatory quotations. The latter should not exceed three percent from price of quotation on buying, if another spread amount is not specified by the Exchange council. For market-makers there is an analogical requirement - 100% of quotation price on buying. Therefore, with appearance of each new specialist at KASE the liquidity of stock and bond market rises, and quotations of securities become close to really market level.