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In September volume of deals in KASE's repo sector fell by 2.5% down to KZT 465.7 bn
/IRBIS, Assel Omarova, Andrey Tsalyuk, October 5, 04/ - In September of 2004 Kazakhstan Stock Exchange (KASE) recorded 3,083 deals in the repo operations sector for a total amount of KZT 465.7 bn or USD3,440.8 m according to exchange rates of the dates each deal was concluded. This is 73.6% of the total KASE turnover in September (in August - 76.4%).
In comparison with August of 2004 volume of transactions decreased by KZT 12,155.4 m. ($69.7 m.) or by 2.5% (by 2.0% in dollar terms). Relative to September of 2003 volume of transactions increased by KZT 202.8 bn. ($1,662.4 m.) or 1.8 times (1.9 times in dollar terms).
Structure of repo market turnover at KASE in September is following:
- the stake of automatic repo transactions was 92.8% of the sector's turnover (KZT 432.1 bn), including deals in Government securities (GS) - 91.6% (KZT 426.5 bn), deals in corporate securities (CS) - 1.2% (KZT 5.6 bn);
- the stake of repo transactions made by direct deals method, was 7.2% of the sector's turnover (KZT 33.6 bn.), including deals in GS - 6.0% (KZT 28.1 bn), deals in CS - 1.2% (KZT 5.5 bn).
For comparison, structure of stock exchange's repo market in August of 2004 was characterized by the following indexes: autorepo - 92.1% (GS - 91.2%; CS - 0.9%); direct method repo - 7.9% (GS - 6.5%; CS - 1.4%).
The tables below present picture of KASE repo market in September of 2004 over opening transactions in tenge (stake of the market in headings of tables is given in accordance with the actual volume of transactions, including repo opening and closing deals).
Automatic repo in GS - 91.6% of the market
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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 1.60 0.05 13.50 0.50 1.89 184,482.2 1,109 85.27
KZT_002 1.00 0.40 4.00 1.00 1.63 5,567.0 33 2.57
KZT_003 0.50 0.50 8.00 1.20 3.02 3,925.0 22 1.81
KZT_007 2.50 0.60 5.00 1.50 2.30 13,059.0 106 6.04
KZT_014 3.50 1.00 9.00 2.40 2.26 4,662.0 51 2.15
KZT_028 3.00 1.70 9.00 2.30 2.25 4,646.0 47 2.15
----------- -------- ----- ----- ------- -------- --------- ------ --------
TOTAL 216,341.2 1,368 100
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Automatic repo in CS - 1.2% of the market
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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 %
----------- -------- ----- ----- ------- -------- ------- ------ --------
ALKS_001 6.50 70.0 1 2.20
ALKS_007 5.50 25.0 1 0.78
ALKS_028 6.50 14.0 1 0.44
ALKS_003 5.00 8.0 1 0.25
ASBN_007 6.00 175.0 1 5.49
ASBN_028 6.00 175.0 1 5.49
CCBNb3_028 8.50 8.50 8.50 8.50 8.50 248.0 2 7.79
HRLT_028 8.20 7.50 8.20 8.20 7.84 454.0 3 14.25
KZIKb1_003 1.00 320.0 1 10.05
KZIKb2_003 1.00 340.0 1 10.67
KZIKb4_003 1.00 40.0 1 1.26
NRBNb2_028 8.25 153.0 1 4.80
ORDB_007 11.00 11.00 11.00 11.00 11.00 75.0 3 2.35
ORDB_014 11.00 25.0 1 0.78
ORDB_028 7.00 7.00 8.00 8.00 7.97 290.0 5 9.11
ORDBb1_028 6.50 6.50 6.50 6.50 6.50 21.0 2 0.66
RGBRb3_028 8.50 8.50 8.50 8.50 8.50 190.0 2 5.97
TEBN_030 7.80 7.80 12.00 12.00 9.36 132.0 2 4.14
VTBN_007 6.00 30.0 1 0.94
VTBN_028 10.00 6.00 10.00 10.00 9.26 163.0 3 5.12
VTBNb1_028 10.00 76.0 1 2.39
VTBNp_028 10.00 9.00 10.00 10.00 9.50 161.0 4 5.05
----------- -------- ----- ----- ------- -------- ------- ------ --------
TOTAL 3,185.0 39 100.0
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Repo on direct deals in GS - 6.0% of the market
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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 2.70 0.37 11.99 1.50 1.91 10,638.8 27 80.40
2 1.50 0.70 1.50 0.70 1.10 119.0 2 0.90
3 0.39 0.30 2.00 1.60 0.82 1,158.7 6 8.76
4 1.50 1.50 1.50 1.50 1.50 150.0 2 1.13
5 1.50 1.30 1.50 1.30 1.37 154.0 2 1.16
7 1.60 1.00 3.10 1.00 2.17 528.0 5 3.99
11 1.50 100.0 1 0.76
14 2.00 2.00 2.00 2.00 2.00 54.3 2 0.41
28 2.20 2.20 3.20 3.20 2.65 251.0 5 1.90
29 4.75 4.75 4.75 4.75 4.75 79.1 5 0.60
------- -------- ----- ----- ------- -------- -------- ------ --------
TOTAL 13,233.0 57 100.0
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Repo on direct deals in CS - 1.2% of the market
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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 %
------- ------- ----- ----- ------- -------- ------- ------ --------
ALKS 16 6.84 20.0 1 0.59
100 13.14 3.9 1 0.11
365 13.00 8.0 1 0.24
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 31.9 3 0.94
------- ------- ----- ----- ------- -------- ------- ------ --------
ASBN 36 5.00 9.3 1 0.27
------- ------- ----- ----- ------- -------- ------- ------ --------
ASBNb1 28 7.90 1.5 1 0.04
------- ------- ----- ----- ------- -------- ------- ------ --------
ASFIb4 30 7.50 10.0 1 0.29
------- ------- ----- ----- ------- -------- ------- ------ --------
ATFBb2 7 2.50 5.00 3.50 3.36 15.4 3 0.45
------- ------- ----- ----- ------- -------- ------- ------ --------
ATFBp 365 6.00 70.0 1 2.06
------- ------- ----- ----- ------- -------- ------- ------ --------
ATFBp8 30 5.00 30.0 1 0.88
61 6.00 51.0 1 1.50
182 8.00 81.0 1 2.39
365 6.00 262.5 1 7.73
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 424.5 4 12.50
------- ------- ----- ----- ------- -------- ------- ------ --------
BTASb4 7 1.75 2.00 1.75 1.77 50.0 3 1.47
86 8.00 11.7 1 0.34
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 61.7 4 1.82
------- ------- ----- ----- ------- -------- ------- ------ --------
CCBN 29 9.06 30.0 1 0.88
30 9.00 9.98 9.98 9.02 102.0 2 3.00
31 5.00 9.01 9.01 7.80 34.3 3 1.01
33 9.01 38.9 1 1.15
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 205.2 7 6.04
------- ------- ----- ----- ------- -------- ------- ------ --------
CCBNb1 36 5.00 3.4 1 0.10
------- ------- ----- ----- ------- -------- ------- ------ --------
CCBNb2 36 5.00 3.8 1 0.11
------- ------- ----- ----- ------- -------- ------- ------ --------
CCBNb3 36 4.98 2.1 1 0.06
------- ------- ----- ----- ------- -------- ------- ------ --------
CCBNb4 7 6.92 6.92 6.92 6.92 130.7 2 3.85
30 4.00 388.7 1 11.45
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 519.4 3 15.30
------- ------- ----- ----- ------- -------- ------- ------ --------
HSBKb 30 8.00 8.00 8.00 8.00 45.3 3 1.33
------- ------- ----- ----- ------- -------- ------- ------ --------
HSBKb2 1 3.00 1.7 1 0.05
31 7.50 1.7 1 0.05
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 3.4 2 0.10
------- ------- ----- ----- ------- -------- ------- ------ --------
KARMb2 4 1.50 4.2 1 0.12
7 1.50 3.50 1.75 2.24 87.0 3 2.56
61 4.75 65.6 1 1.93
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 156.8 5 4.62
------- ------- ----- ----- ------- -------- ------- ------ --------
KKGBe3 61 4.75 69.0 1 2.03
------- ------- ----- ----- ------- -------- ------- ------ --------
KKGBe4 61 4.75 21.4 1 0.63
------- ------- ----- ----- ------- -------- ------- ------ --------
KZASb2 7 5.21 5.21 5.21 5.21 27.2 2 0.80
------- ------- ----- ----- ------- -------- ------- ------ --------
KZIKb1 30 13.00 2.0 1 0.06
------- ------- ----- ----- ------- -------- ------- ------ --------
KZIKb4 1 3.38 1.1 1 0.03
------- ------- ----- ----- ------- -------- ------- ------ --------
KZMS 14 19.28 18.3 1 0.54
21 13.00 3.5 1 0.10
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 21.8 2 0.64
------- ------- ----- ----- ------- -------- ------- ------ --------
KZTCb1 48 9.01 40.6 1 1.20
------- ------- ----- ----- ------- -------- ------- ------ --------
KZTKp 9 15.03 0.3 1 0.01
------- ------- ----- ----- ------- -------- ------- ------ --------
KZTOe1 61 4.75 28.9 1 0.85
------- ------- ----- ----- ------- -------- ------- ------ --------
NFBN 33 13.00 24.0 1 0.71
------- ------- ----- ----- ------- -------- ------- ------ --------
NRBNb3 29 4.07 378.2 1 11.14
------- ------- ----- ----- ------- -------- ------- ------ --------
NRBNp6 31 9.50 5.0 1 0.15
------- ------- ----- ----- ------- -------- ------- ------ --------
ORDB 18 12.00 30.0 1 0.88
30 7.00 7.00 7.00 7.00 102.2 2 3.01
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 132.2 3 3.89
------- ------- ----- ----- ------- -------- ------- ------ --------
ORDBb1 34 9.00 15.0 1 0.44
------- ------- ----- ----- ------- -------- ------- ------ --------
ORDBp 5 1.00 18.2 1 0.54
7 1.01 1.01 1.01 1.01 18.1 2 0.53
32 15.01 37.1 1 1.09
45 15.01 8.1 1 0.24
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 81.5 5 2.40
------- ------- ----- ----- ------- -------- ------- ------ --------
RGBRb3 1 3.59 10.0 1 0.29
6 7.14 80.0 1 2.36
14 6.41 8.10 8.10 7.63 120.1 3 3.54
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 210.1 5 6.19
------- ------- ----- ----- ------- -------- ------- ------ --------
TEBN 29 8.00 10.01 8.00 8.34 12.0 2 0.35
------- ------- ----- ----- ------- -------- ------- ------ --------
VTBN 7 5.06 13.6 1 0.40
12 7.98 7.98 7.98 7.98 9.0 2 0.27
14 8.53 15.0 1 0.44
16 6.99 17.0 1 0.50
18 11.98 0.3 1 0.01
24 7.98 11.98 7.98 10.10 2.8 2 0.08
26 8.51 45.0 1 1.33
29 12.00 9.1 1 0.27
30 8.52 12.01 8.52 9.73 19.0 3 0.56
32 15.00 15.00 15.00 15.00 20.0 2 0.59
45 8.50 15.00 15.00 8.75 51.9 2 1.53
46 6.51 100.0 1 2.94
61 8.99 8.99 8.99 8.99 200.0 6 5.89
91 10.00 11.49 11.49 11.35 111.0 2 3.27
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 613.8 26 18.07
------- ------- ----- ----- ------- -------- ------- ------ --------
VTBNb1 14 3.00 13.9 1 0.41
29 8.50 30.0 1 0.88
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 43.9 2 1.29
------- ------- ----- ----- ------- -------- ------- ------ --------
VTBNp 20 3.49 1.2 1 0.04
29 7.98 80.0 1 2.36
30 7.98 7.7 1 0.23
33 11.99 7.4 1 0.22
------- ------- ----- ----- ------- -------- ------- ------ --------
Total 96.4 4 2.84
------- ------- ----- ----- ------- -------- ------- ------ -------- ZERD 34 10.74 8.0 1 0.24 ------- ------- ----- ----- ------- -------- ------- ------ --------
TOTAL 3 395.9 104 100.00
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Stake of stock exchange's turnover in total volume of repo deals of Kazakhstan secondary market in September of 2004 equaled to 95.9%, in August of 2004 - 98.7%.
The repo market changed insignificantly. Weighted average overnight rate in the automatic repo sector increased from 1.74 to 1.89% reflecting demand of banks in short-term money. However, no fundamental changes occurred.
The data also indicated stability of sectors turnover broken down by underlying instruments.
[2004-10-05]