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Market and Company News
02.06.2003 00:00

In May of 2003 volume of deals in KASE's repo sector decreased relative to April by 18.4% to KZT229.2 bn

/IRBIS, June 2, 03/ - In May of 2003 at Kazakhstan stock exchange (KASE) in repo-transactions sector there were registered 1,930 deals to the total amount of KZT229.2 bn or USD1,518.3 m at the current rate on deals making date.

In comparison with April of 2003 volume of transactions decreased by KZT81.5 bn ($328.3 m) or by 18.4% (by 17.8% in terms of dollar). Relative to May of 2002 volume of transactions increased by KZT77.2 bn ($524.3 m) or by 50.8% (by 52.7% in temrs of dollar).

Structure of repo market's turnover at KASE in May, which was calculated in tenge equivalent, was the following way:

  • the stake of automatic repo transactions was 88.4% of the sector's turnover (KZT202.7 bn), including deals in Government securities (GS) - 87.7% (KZT201.0 bn), deals in corporate securities (CS) - 0.7% (KZT1,629.9 m);
  • the stake of repo transactions, which were made by direct deals method, was 11.6% of the sector's turnover (KZT26.6 bn), including deals in GS - 10.2% (KZT23.4 bn), deals in CS - 1.4% (KZT3,125.1 m).

For comparison, structure of stock exchange's repo market in 2002 was characterized by the following indexes: autorepo - 83.03% (GS - 83.01%;
CS - 0.02%); repo by direct method - 16.97% (GS - 16.09%; CS - 0.88%).

Below are tables, which characterize KASE's repo sector in May of 2003 on opening transactions in tenge.

Automatic repo in GS - 87.7% of the market

---------------------------------------------------------------------------
                                 Repo rate, % APR
 Instrument -------------------------------------   Volume,   Num- Stake of
(currency,  on first mini- maxi- on last weighted         m ber of  market,
term, days)     deal   mum   mum    deal  average       KZT  deals        %
----------- -------- ----- ----- ------- -------- --------- ------ --------
KZT_001         4.50  1.00  9.50    4.50     4.28  85,203.1    620     83.2
KZT_002         4.00  3.90  4.00    3.90     3.97     261.0      5      0.3
KZT_003         4.50  4.00  5.50    4.00     4.47     556.0      9      0.5
KZT_007         5.00  4.50  6.50    4.50     5.70   6,415.0     69      6.3
KZT_014         5.00  4.80  6.50    5.00     5.64   4,735.0     61      4.6
KZT_028         5.20  5.20  7.00    5.80     5.81   5,204.0     44      5.1
----------- -------- ----- ----- ------- -------- --------- ------ --------
TOTAL                                             102,374.2    808    100.0
---------------------------------------------------------------------------

Automatic repo in CS - 0.7% of the market

-------------------------------------------------------------------------
                                 Repo rate, % APR
Instrument  ------------------------------------- Volume,   Num- Stake of
(security,  on first mini- maxi- on last weighted       m ber of  market,
term, days)     deal   mum   mum    deal  average     KZT  deals        %
----------- -------- ----- ----- ------- -------- ------- ------ --------
CCBN_001        4.00  4.00  4.50    4.50     4.16    74.0      4      8.4
CCBN_030        7.00  7.00  7.00    7.00     7.00   130.0      3     14.8
KZIKb1_014      7.00  7.00  7.00    7.00     7.00   189.0      5     21.5
KZIKb1_028      8.00  8.00  8.00    8.00     8.00    70.0      2      8.0
ORDBb1_007     10.00 10.00 10.00   10.00    10.00    10.0      1      1.1
ORDBb1_028     11.00 10.00 12.00   10.00    11.00   123.0      8     14.0
TXBNb1_001      4.50  4.50  4.50    4.50     4.50    50.0      1      5.7
TXBNb1_014      7.30  7.00  7.30    7.00     7.15   100.0      3     11.4
VTBN_028       10.00  9.50 10.00    9.50     9.72    45.0      3      5.1
VTBNp_001       8.00  8.00  8.00    8.00     8.00    58.0      1      6.6
VTBNp_014       8.00  8.00  8.00    8.00     8.00    31.0      1      3.5
----------- -------- ----- ----- ------- -------- ------- ------ --------
TOTAL                                               880.0     32    100.0
-------------------------------------------------------------------------

Repo on direct deals in GS - 10.2% of the market

------------------------------------------------------------------------------
                                  Repo rate, % APR
Term of  -----------------------------------------   Volume,    Num-  Stake of
 repo,   on first  mini-  maxi-  on last  weighted         m  ber of   market,
 days        deal    mum    mum     deal   average       KZT   deals         %
-------  --------  -----  -----  -------  --------  --------  ------  --------
   1         3.00   1.00   6.50     3.00      3.23   4,137.5      27      32.9
   2         2.80   2.80   5.75     4.00      4.50     473.2       6       3.8
   3         4.30   1.00   7.50     5.00      6.12   4,071.6      12      32.4
   4         3.30   2.00   7.50     7.50      6.37     821.9       6       6.5
   5         4.50   4.50   4.50     4.50      4.50     400.0       4       3.2
   6         1.99   1.99   4.25     3.00      2.20     578.2       3       4.6
   7         3.50   1.99   6.50     4.50      4.71   1,725.4      18      13.7
   9                                5.90      5.90      61.5       1       0.5
  12                                5.50      5.50      38.5       1       0.3
  13         4.80   3.40   4.80     3.40      4.10      78.0       2       0.6
  14                                5.75      5.75      47.1       1      0.37
  15                                5.90      5.90      61.5       1       0.5
  21                                3.00      3.00      21.8       1       0.2
  26                                5.80      5.80      45.0       1      0.36
-------  --------  -----  -----  -------  --------  --------  ------  --------
TOTAL                                               12,561.3      84     100.0
------------------------------------------------------------------------------

Repo on direct deals in CS - 1.4% of the market

-----------------------------------------------------------------------------
                                  Repo rate, % APR
                   -------------------------------
Subject   Term of  -----  -----  -------  --------  Volume,    Num-  Stake of
of          repo,  mini-  maxi-  on last  weighted        m  ber of   market,
repo         days    mum    mum     deal   average      KZT   deals         %
--------  -------  -----  -----  -------  --------  -------  ------  --------
ARNAb1         31   7.00   7.00     7.00      7.00     83.3       2      5.11
--------  -------  -----  -----  -------  --------  -------  ------  --------
ASFIb2          3                   7.00      7.00      4.9       1      0.30
--------  -------  -----  -----  -------  --------  -------  ------  --------
CCBN            1   5.48   5.48     5.48      5.48     38.0       2      2.33
                3                   7.30      7.30     30.0       1      1.84
                4                   5.48      5.48     38.0       1      2.33
               10                   8.58      8.58      2.8       1      0.17
               14                   8.99      8.99     30.2       1      1.85
               29                  10.01     10.01      4.0       1      0.25
               30                   9.00      9.00     15.0       1      0.92
               31                  11.01     11.01     35.0       1      2.15
               42                   9.06      9.06     20.4       1      1.25
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                              213.5      10     13.10
--------  -------  -----  -----  -------  --------  -------  ------  --------
HSBK           10                   8.76      8.76      0.2       1      0.01
               26                   3.48      3.48      0.9       1      0.06
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                                1.1       2      0.07
--------  -------  -----  -----  -------  --------  -------  ------  --------
KARMb1          7                   9.00      9.00     12.8       1      0.79
               12                   9.00      9.00     12.8       1      0.79
               21                   5.80      5.80      6.0       1      0.37
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                               31.7       3      1.94
--------  -------  -----  -----  -------  --------  -------  ------  --------
KZMS           10                   5.00      5.00      5.0       1      0.31
--------  -------  -----  -----  -------  --------  -------  ------  --------
KZTKb1          7                   9.00      9.00      1.9       1      0.12
--------  -------  -----  -----  -------  --------  -------  ------  --------
KZTKp          29                  15.00     15.00      0.2       1      0.01
--------  -------  -----  -----  -------  --------  -------  ------  --------
ORDBb1         22                  11.50     11.50     25.0       1      1.53
               31                  12.00     12.00      6.0       1      0.37
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                               31.0       2      1.90
--------  -------  -----  -----  -------  --------  -------  ------  --------
RGBRb3          5   7.31   8.78     7.31      7.60    100.8       2      6.19
              180  10.50  10.50    10.50     10.50    101.4       3      6.22
              184                  10.50     10.50     38.6       1      2.37
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                              240.8       6     14.78
--------  -------  -----  -----  -------  --------  -------  ------  --------
SYRGb1         22                   5.50      5.50      9.0       1      0.55
--------  -------  -----  -----  -------  --------  -------  ------  --------
UKPFb1         31   7.00   7.00     7.00      7.00    146.6       4      9.00
--------  -------  -----  -----  -------  --------  -------  ------  --------
VITAb3          1   9.10   9.10     9.10      9.10      6.4       1      0.39
               30   9.10  13.00    13.00     10.99     12.4       2      0.76
               32  12.00  12.00    12.00     12.00      4.9       1      0.30
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                               23.6       4      1.45
--------  -------  -----  -----  -------  --------  -------  ------  --------
VTBN            1   8.52   8.52     8.52      8.52     23.7       2      1.46
                7                   8.52      8.52     30.0       1      1.84
               10                   8.53      8.53      3.8       1      0.23
               11   8.50   8.57     8.57      8.53      7.6       2      0.47
               19                   8.50      8.50     27.7       1      1.70
               21                   8.51      8.51      1.0       1      0.06
               26                  10.01     10.01     45.0       1      2.76
               28   9.99   9.99     9.99      9.99      9.0       2      0.55
               30   7.45   8.51     8.51      8.24     30.8       2      1.89
               31                  10.01     10.01      3.0       1      0.18
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                              181.7      14     11.15
--------  -------  -----  -----  -------  --------  -------  ------  --------
VTBNb1         28                  10.00     10.00     80.0       1      4.91
               31                   8.50      8.50     20.0       1      1.23
              180                  10.50     10.50     30.0       1      1.84
              184                  10.50     10.50     38.6       1      2.37
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                              168.6       4     10.35
--------  -------  -----  -----  -------  --------  -------  ------  --------
VTBNp          12                   6.97      6.97     12.7       1      0.78
               32                  11.99     11.99     75.4       1      4.63
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                               88.1       2      5.41
--------  -------  -----  -----  -------  --------  -------  ------  --------
VTZL           18                  10.04     10.04      3.0       1      0.18
               28  14.01  14.01    14.01     14.01     80.0       2      4.91
               31   9.01  11.01     9.01      9.73    229.9       6     14.11
               91                  10.01     10.01      5.1       1      0.31
               92                  12.00     12.00      5.1       1      0.31
--------  -------  -----  -----  -------  --------  -------  ------  --------
Subtotal                                              323.0      11     19.83
--------  -------  -----  -----  -------  --------  -------  ------  --------
ZERD           14                   5.00      5.00     75.0       1      4.60
--------  -------  -----  -----  -------  --------  -------  ------  --------
TOTAL                                               1,628.9      70     100.0
-----------------------------------------------------------------------------

Stake of stock exchange's turnover in total volume of repo deals of Kazakhstan secondary market in May was 92.1%, in April - 94.4%.

[2003-06-02]