In July of 2003 volume of deals in KASE's repo sector grew by 26.7% to KZT331.4 bn

/IRBIS, August 1, 03/ - In July of 2003 at Kazakhstan stock exchange (KASE) in repo-transactions sector there were registered 2,540 deals to the total amount of KZT331.4 bn or USD2,255.7 m at the current rate on deals making date, that is 77.9% of the whole July's turnover. In comparison with June of 2003 volume of transactions increased by KZT69.8 bn ($498.7 m) or by 26.7% (by 28.4% in terms of dollar). In the opinion of specialists of IRBIS expansion of exchange's repo market in July was caused by the effect of two factors: higher repo rates, which were caused by decrease of short-term liquidity of banks in accordance with tax payments for the quarter; increased volumes of short money borrowings for working at the currency market; growth of the stake of exchange's turnover of the whole Kazakhstan repo market. Relative to July of 2002 volume of transactions increased by KZT93.4 bn ($707.9 m) or by 39.2% (by 45.7% in temrs of dollar). Structure of repo market's turnover at KASE in July, which was calculated in tenge equivalent, was the following way: - the stake of automatic repo transactions was 82.6% of the sector's turnover (KZT273.5 bn), including deals in Government securities (GS) - 82.1% (KZT271.8 bn), deals in corporate securities (CS) - 0.5% (KZT1,574.2 m); - the stake of repo transactions, which were made by direct deals method, was 17.4% of the sector's turnover (KZT57.8 bn), including deals in GS - 16.6% (KZT55.1 bn), deals in CS - 0.8% (KZT2,713.3 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 July of 2003 on opening transactions in tenge. Automatic repo in GS - 82.1% of the market --------------------------------------------------------------------------- Repo rate, % APR Instrument ------------------------------------- Num- Stake of (currency, on first mini- maxi- on last weighted Volume, ber of market, term, days) deal mum mum deal average m KZT deals % ----------- -------- ----- ----- ------- -------- --------- ------ -------- KZT_001 2.60 1.00 10.00 2.00 3.71 117,356.1 806 85.7 KZT_002 3.00 3.00 6.00 4.00 4.19 1,792.0 19 1.3 KZT_003 3.80 3.00 5.00 4.00 3.70 1,218.0 17 0.9 KZT_007 4.40 3.00 6.50 4.80 4.30 5,485.0 73 4.0 KZT_014 4.60 3.90 6.50 4.50 4.94 5,875.0 63 4.3 KZT_028 5.20 4.50 6.50 5.00 5.37 5,258.0 63 3.8 ----------- -------- ----- ----- ------- -------- --------- ------ -------- TOTAL 136,984.2 1 041 100.0 --------------------------------------------------------------------------- Automatic repo in CS - 0.5% of the market ------------------------------------------------------------------------- Repo rate, % APR Instrument ------------------------------------- Num- Stake of (security, on first mini- maxi- on last weighted Volume, ber of market, term, days) deal mum mum deal average m KZT deals % ----------- -------- ----- ----- ------- -------- ------- ------ -------- CCBN_001 7.00 7.00 7.00 7.00 7.00 130.0 3 18.8 CCBN_007 7.00 7.00 7.00 7.00 7.00 130.0 3 18.8 KZIKb1_001 4.50 4.50 30.0 1 4.3 KZIKb1_007 6.00 6.00 30.0 1 4.3 KZIKb1_014 7.00 7.00 7.00 7.00 7.00 78.0 2 11.3 KZIKb1_028 8.00 8.00 30.0 1 4.3 ORDBb1_028 11.00 11.00 12.00 12.00 11.31 96.0 7 13.9 VTBN_001 3.00 3.00 1.0 1 0.1 VTBN_028 8.00 8.00 10.50 10.00 10.12 165.0 7 23.9 VTBNp_001 3.00 3.00 1.0 1 0.1 ----------- -------- ----- ----- ------- -------- ------- ------ -------- TOTAL 691.0 27 100.0 ------------------------------------------------------------------------- Repo on direct deals in GS - 16.6% of the market ------------------------------------------------------------------------------ Repo rate, % APR Term of ----------------------------------------- Num- Stake of repo, on first mini- maxi- on last weighted Volume, ber of market, days deal mum mum deal average KZT deals % ------- -------- ----- ----- ------- -------- -------- ------ -------- 1 1.75 1.00 6.00 1.99 3.42 16,087.9 69 56.8 2 4.00 3.52 4.98 3.52 4.04 2,609.7 11 9.2 3 2.00 1.50 5.99 4.01 3.10 3,054.9 20 10.8 4 3.50 1.50 4.00 4.00 2.67 1,787.8 10 6.3 5 1.50 1.50 4.00 4.00 2.84 560.2 5 2.0 6 5.50 3.00 5.50 3.00 5.12 608.7 3 2.1 7 4.00 3.00 6.31 4.80 4.75 1,190.3 12 4.2 8 4.00 4.00 6.50 4.50 5.20 1,063.8 8 3.8 12 3.70 3.70 387.9 1 1.4 13 3.50 3.50 7.4 1 0.0 14 6.00 4.80 6.00 4.80 5.43 286.8 2 1.0 16 4.00 4.00 48.5 1 0.2 20 3.00 3.00 1.5 1 0.0 21 4.60 2.50 4.60 2.50 3.52 309.5 3 1.1 28 6.00 3.10 6.00 4.39 4.52 173.9 13 0.6 29 4.00 4.00 24.0 1 0.1 30 5.80 5.80 45.0 1 0.2 34 4.60 4.60 71.0 1 0.3 ------- -------- ----- ----- ------- -------- -------- ------ -------- TOTAL 28,318.7 163 100.0 ------------------------------------------------------------------------------ Repo on direct deals in CS - 0.8% of the market ----------------------------------------------------------------------------- Repo rate, % APR Subject Term of ------------------------------- Num- Stake of of repo, mini- maxi- on last weighted Volume, ber of market, repo days mum mum deal average m KZT deals % -------- ------- ----- ----- ------- -------- ------- ------ -------- ALKS 28 11.73 11.73 11.73 11.73 38.0 2 3.06 30 10.70 10.70 16.0 1 1.29 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 54.0 3 4.35 ----------------------------------------------------------------------------- ALKSp 30 10.70 10.70 16.0 1 1.29 ----------------------------------------------------------------------------- ASFIb2 5 5.00 5.00 60.2 1 4.85 ----------------------------------------------------------------------------- CCBN 31 9.01 9.01 9.01 9.01 19.0 2 1.53 62 11.01 11.01 11.01 11.01 65.0 2 5.24 188 11.50 11.50 11.50 11.50 50.0 2 4.03 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 134.0 6 10.79 ----------------------------------------------------------------------------- KARMb1 15 11.00 11.00 10.0 1 0.80 28 5.00 5.00 20.0 1 1.61 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 30.0 2 2.42 ----------------------------------------------------------------------------- KZMS 31 10.00 10.00 0.6 1 0.05 ----------------------------------------------------------------------------- KZTKb1 15 11.00 11.00 2.0 1 0.16 ----------------------------------------------------------------------------- KZTOe1 28 5.00 5.00 8.8 2 0.71 ----------------------------------------------------------------------------- ORDBb1 30 11.00 11.00 11.0 1 0.89 62 11.00 11.00 3.0 1 0.24 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 14.0 2 1.13 ----------------------------------------------------------------------------- RGBRb3 1 3.72 7.43 7.43 5.50 101.3 2 8.16 7 8.50 8.50 100.1 1 8.07 8 6.23 7.48 7.48 6.68 64.0 2 5.16 18 8.51 8.51 100.4 1 8.08 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 365.8 6 29.5 ----------------------------------------------------------------------------- TEBN 30 11.00 11.00 11.00 11.00 28.0 2 2.26 ----------------------------------------------------------------------------- VITAb3 31 8.50 12.00 8.50 10.01 104.7 7 8.43 ----------------------------------------------------------------------------- VTBN 27 8.02 10.00 8.02 9.01 142.4 2 11.47 30 10.02 10.02 45.0 1 3.62 31 10.00 10.49 10.00 10.35 7.0 2 0.57 32 8.51 8.51 25.7 1 2.07 62 8.51 8.51 3.0 1 0.24 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 223.1 7 18.0 ----------------------------------------------------------------------------- VTBNb1 4 6.00 6.00 50.0 1 4.03 5 7.00 7.00 60.2 1 4.85 28 10.00 10.00 15.0 1 1.21 31 8.50 10.00 10.00 9.00 30.0 2 2.42 45 10.50 10.50 30.0 1 2.42 -------- ------- ----- ----- ------- -------- ------- ------ -------- Subtotal 185.2 6 14.9 ----------------------------------------------------------------------------- VTBNp 30 11.00 11.00 15.0 1 1.21 ----------------------------------------------------------------------------- TOTAL 1,241.5 48 100.0 ----------------------------------------------------------------------------- Stake of stock exchange's turnover in total volume of repo deals of Kazakhstan secondary market in July was 97.9%, in June - 92.3%. [2003-08-01]