KAZAKHSTAN STOCK EXCHANGE INC (KASE) - PowerPoint PPT Presentation

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KAZAKHSTAN STOCK EXCHANGE INC (KASE)

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  1. KAZAKHSTAN STOCK EXCHANGE INC (KASE) Relevant as at October 1, 2008

  2. COEVAL OF TENGE … KASE was established on November 17, 1993 under the name of Kazakh Inter-bank Currency Exchange – two days after Tenge (the new national currency of Kazakhstan) was introduced on November 15, 1993. Nowadays, November 15 is celebrated as the official "Day of Tenge". "Old" tenge (1993–2006) "New" tenge (since 2006)

  3. NOW COMMERCIAL KASE is a commercial joint-stock company with 70 shareholders (as ofOctober 1, 2008). The Regional Financial Center of Almaty JSC is the largest shareholder. Other shareholders include: banks, brokerage firms, asset management companies, pension funds and other professional financial institutions. Voting method: one share – one vote.

  4. THE SIZE MATTERS As of September 1, 2008 own capital $10.3 m paid up charter capital $1.4 m authorized shares 5 000 000 offered shares 450 000 share balance value 2 732 tenge ($22.9)

  5. SO DOES THE PROFIT

  6. WE ARE BIG IN NUMBERS Total number of members – 101 of which: Category "A"(with the right of participation in trades in all financial instruments, circulating on the special trading floor of the Regional Financial Center of Almaty) –50; Category "B"(with the right of participation in trades in foreign currency ) –30; Category "C"(with the right of participation in trades in fixed-term contracts ) –4; Category "K"(with the right of participation in government securities) –84; Category "P"(with the right of participation in trades in corporate serial securities, listed on the official list of the Exchange) –84; Category "H"(with the right of participation in trades in corporate serial securities, admitted to circulation (trading) in the sector "Non-listing securities" of the Trading system of the Exchange, and state blocks of shares of privatized organizations) –49.

  7. WE MAKE THE HISTORY(1) 1993– first trades with foreign currency (US dollars) 1995– first trades with T-bills 1996– first trades with derivatives (KZT/USD exchange rate futures) 1997– first trades with listed shares 1997– first trades with state blocks of shares 1997– first trades with non-listed corporate securities 1998– launching of "nego" deals system on KASE (instead of over-the-counter securities market ) 1998 – first trades with eurobonds of Kazakhstan

  8. WE MAKE THE HISTORY(2) 1999– first trades with listed corporate bonds 1999– first trades with municipal bonds (since 2005 the issuance of these bonds is prohibited) 1999– launching of the "nego" repo market 2001– launching of "automatic" repo market (the most massive and active sector of the KASE market) 2006– first trades with foreign corporate bonds(JP Morgan and Merrill Lynch) 2006– IPO of KazMunaiGas Exploration Production shares with the use of KASE settlement system

  9. WE MAKE THE HISTORY (3) 2006– secondary distribution of KAZAKHMYS PLC (UK) shares with the use of KASE settlement system 2007– special trading floor of the Regional Financial Center of Almaty city was founded on the base of KASE (founded to attract foreign issuers and investors) 2007– launch of the new index on the share market – KASE Index, which continued the number series of KASE_Shares Index 2007– commercialization of KASE 2008 – Implementation of New Listing Rules, Reconstruction of Unity through MTF KASE and STF RFCA Integration

  10. KASE – UNIVERSAL MARKET (1)

  11. KASE – UNIVERSAL MARKET (2) KASE serves the markets of: • "nego" and "automatic" repo with public and corporate securities • foreign currencies (US dollar, euro, Russian rouble) • public securities of Kazakhstan issued by the National Bank, municipalities and Ministry of Finance (including international bonds of Kazakhstan) • IFO bonds and foreign T-bills • promissory notes • equities • corporate bonds …

  12. A GREAT VARIETY OF BONDS • "regular" domestic bonds (nominated in Tenge or foreign currencies, with discount or coupon, with fixed or floating coupon) • international bonds of Kazakhstani issuers • agency bonds (with the tax regime equal to the tax regime of T-bills) • infrastructural bonds (secured by the government guarantee) • bonds of foreign issuers (previously registered outside Kazakhstan)

  13. TURNOVER DINAMICS (USD bn)

  14. TURNOVER and GDP

  15. MARKET CAPITALIZATION

  16. LISTED COMPANIES

  17. SECURITIES OF OFFICIAL LIST

  18. OFFICIAL LIST INDUSTRIAL STRUCTURE

  19. SHARES AND BONDS LIQVIDITY PARAMETERS

  20. SHARES AND BONDS LIQVIDITY PARAMETERS

  21. MAIN PROBLEMS OF THE MARKET • lack of free-float equities (the heritage of case-by-case privatization) • conservative policy of the main domestic investors ("buy bonds and hold till maturity")

  22. OUR INDEX

  23. ON OUR TECHNOLOGIES KASE uses its own trading platform: • on-screen based electronic "Server –Client" system • remote access • electronic signature and electronic documents circulation • traffic encryption • on-line data saving

  24. CONTACT US … Internet: www.kase.kz e-mail: kase@kase.kz phone: (+7 727) 237 53 00, 272 98 98, 237 53 11, 272 06 00 fax: (+7 727) 296 64 02, 272 09 25 address: 291/3a, Dostyk ave, Almaty, Kazakhstan