Kazakhstan Stock Exchange - leading trading platform in Central Asia. Almaty September 2016
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1 Kazakhstan Stock Exchange - leading trading platform in Central Asia Almaty September 2016
2 1 Securities Market Infrastructure Kazakhstan Stock Exchange 50.1% - NBK 49.9% - other Central Depository 55.0% - NBK 34.7% - KASE Integrated Securities Registrar 100.0% - NBK Regulatory Body National Bank of Kazakhstan
3 2 About KASE Our company Kazakhstan Stock Exchange (KASE) mission is to promote sustainable growth of the Kazakhstani economy through development of market infrastructure Today KASE is universal financial market with established mechanisms for interaction of all participants KASE infrastructure provides disclosure of issuers' information KASE is partner of the National Bank in the implementation of monetary policy and platform for the implementation of major government programs LISTING Our services admission of securities for public trading creation of conditions for disclosure of information about issuers' activities MEMBERSHIP equities market currency market derivatives market TRADING securities currencies repo operations and currency swaps derivatives POST-TRADING SERVICES clearing settlement DISSEMINATION OF MARKET DATA trading results real-time and delayed data historical data IT SOLUTIONS trading. settlement and clearing systems FIX-Gateway website and web services for market participants
4 3 KASE Shareholders 0.7% 0.7% 14.0% National Bank Brokers 50.1% Banks 27.4% Pension Fund 6.5% Retail Investors Others
5 4 International profile Membership in international organizations Market Classifications - Frontier - Frontier International Association of CIS Stock Exchanges - Watch List (Frontier)
6 5 KASE Members Derivatives market Number of members Securities market Currency market Total
7 Official List 6 KASE Official List Stocks Debt Securities Government Bonds Islamic Securities Investment Funds Derivatives IFI Securities
8 Market Trading Volumes Trading volumes in , USD bn Repo Corporate securities Government bonds Futures Currency swap Currency spot % of GDP % % In 2015 trading volume reached a historical maximum of USD bn (+65.0%) Amid the tenge deficit currency swap total trading volume increased in 2015 by 159.5% In spite of the significant increase in trading volume in shares (+392.9%) and bonds (+125.6%), share of these segments in total turnover of exchange trade remains at 1.1% and 1.3% respectively The trade volume in 8 months of 2016 reached USD bn '8M
9 VIII IX X XI XII I II III IV V VI VII Volume, USD bn KASE share, % 8 Currency Market Instruments: Sectoral structure of turnover and KASE share USDKZT_TOD USDKZT_TOM USDKZT_SPT EURKZT_TOD EURKZT_TOM EURKZT_SPT RUBKZT_TOD CNYKZT_TOD EURUSD_TOD EURUSD_TOM EURUSD_SPT Currency trading volume structure USDKZT 92 % RUBKZT 4% EURUSD 1% EURKZT 1% CNYKZT 2% Trade volume Non-comparable OTC transactions Comparable OTC transactions Exchange operations KASE share in comparable transactions
10 9 Kazakhstan's Trade Partners In 2015 China was the second largest trade partner of Kazakhstan. surpassed only by Russia. Total value of trade between two countries exceed USD 15.1 bn or 8% of Kazakhstan's GDP. Trading partner Total trade (USD mln) Russia China France Germany Italy Imports in USD millions 947 Exports Trading volumes with CNYKZT_TOD Trading volumes with RUBKZT_TOD in CNY millions in RUB millions '8M '8M
11 10 Securities Market Shares: trading volume, USD bn Corporate Bonds: trading volume, USD bn Primary market Secondary market Primary Market Secondary Market < Market Capitalization, USD bn < '8M Market cap to GDP as of amounted to 19.8 % '8M Circulating Debt Volume, USD bn 1.0 Market cap to GDP as of amounted to 14.6 % USD 57.3 bn as of USD 38.6 bn as of USD 21.2 bn as of USD 25.2 bn as of
12 KASE Index There are 8 stocks in Index Company Name KAZ Minerals PLC KazMunaiGaz EP JSC Halyk Savings Bank of Kazakhstan JSC Bank CenterCredit JSC Price as of September 1, 2016 (USD) KASE Index* 8-month trend, % Free float shares, % Share in the Index, % Market capitalization, USD mln KASE Index % (Annual Rate) M +29.4% (Rate from the beginning of the year) Kcell JSC Kazakhtelecom JSC KazTransOil JSC Average daily trading volume of KASE Index shares in 2016 is KZT mln (USD th) KEGOC JSC Total *as of September 1, 2016
13 12 IPO on KASE KZT bn Offering price: KZT Demand: 100% Current price: KZT Placement share in total: 33 % 17.1 KZT bn Offering price: Demand: 100% Current price: KZT Placement share in total: 5 % KZT mln Offering price: KZT Demand: 83% Current price: KZT Placement share in total: 19 % Capital Raised : 2.7 KZT bn Offering price : KZT Demand : 100% Current price : KZT Placement share in total: 5 % Capital Raised : 7.5 KZT bn Offering price : KZT Demand : 260% Current price : KZT Placement share in total: 25 % Capital Raised : 27.9 KZT bn Offering price : KZT Demand : 200% Current price : KZT Placement share in total: 10 % 13.1 KZT bn Offering price: KZT Demand: 130% Current price: KZT Placement share in total: 10 % KZT mln Offering price: KZT Demand: 106% Current price: KZT Placement share in total: 37 % KZT mln Offering price: KZT Demand: 370% Current price: KZT Placement share in total: 24 % *as of September 1, 2016
14 13 Corporate Bond Issue March 2016 April 2016 May 2016 May 2016 June KZT mln Circulation term: 10 years Clean Price: 100.0% Coupon Rate: 10.0% 50.0 KZT bn Circulation term: 10 years Clean Price: 100.0% Coupon Rate: 16.9% 20.7 KZT bn Circulation term: 6 years Clean Price: 99.5% Coupon Rate: 8.6% 65.0 KZT bn Circulation term: 10 years Clean Price: - Coupon Rate: 14.0% 30.0 KZT bn Circulation term: 3 years Clean Price: - Coupon Rate: 14.0 % July 2016 June, July, August 2016 July 2016 August 2016 August KZT bn Circulation term: 6 years Clean Price: 99.5% Coupon Rate: 8.6% 49.0 KZT bn Circulation term: 15 years Clean Price: 99.8% Coupon Rate: 18.6 % 15.0 KZT bn Circulation term: 15 years Clean Price: - Coupon Rate: 15.0 % KZT bn Circulation term: 9 months, 10 years Clean Price: - Coupon Rate: 14.0 % 4.5 KZT bn Circulation term: 5 years Clean Price: 100% Coupon Rate: 15.5 %
15 '8M '8M 14 Issuers by Industry Sectors Stock Market, share in market capitalization Bonds Market, share of debt in circulation 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Energy Finance Telecommunications Materials Industrials Consumer staples Municipal services Information technology Medicine Consumer discretionary 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 73.8% Energy 30.6% 13.5% Finance 49.3% 3.7% Industrials 9.2%
16 15 Government Securities Market cap to GDP as of amounted to 8.9 % USD 11.9 bn as of Market Capitalization, USD bn USD 21.2 bn as of Total trading volume of government securities decreased to USD 2.3 bn in 2015 In the Ministry of Finance placed the longterm treasury bonds worth of KZT bn ( USD mln), local executive bodies - in the amount of KZT 33.0 bn ( USD 95.0 mln) Volume in the secondary market increased from USD 37.4 mln for eight months of 2015 to USD mln for eight months of 2016 ( % YoY) Trading Volume, USD bn Primary market Secondary market < At the end of August 2016 the number of outstanding issues was Volume of public debt by issuers: Ministry of Finance of RK = USD mln (162 Securities) National Bank of RK = USD mln (14 Securities) Municipalities = USD 97.0 mln (16 Securities) '8M
17 % per annum 16 Money Market Money market rates Repo Swap MM Index M Average daily repo trading volume USD mln Average monthly repo trading volume USD mln Average daily swap trading volume USD mln Average monthly swap trading volume USD mln Currency swap trading volumes, USD bn Repo trading volumes, USD bn Government securities Non-government securities '8M '8M
18 Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13 May-13 Jul-13 Sep-13 Nov-13 Jan-14 Mar-14 May-14 Jul-14 Sep-14 Nov-14 Jan-15 Mar-15 May-15 Jul-15 Sep-15 Nov-15 Jan-16 Mar-16 May-16 Jul-16 Sep KASE Investors As of September 1, 2016 total number of retail accounts registered in Central Securities Depository amounted to Kazakhstan s securities market investors are represented by brokerage firms, brokerage firms clients, commercial banks and the Unified Pension Fund Number of opened accounts in CSD, th th 70% Active accounts at CSD Number of accounts involved in transcations, th 88.1 th 40% Brokerage firms are clients are comprised of retail investors and institutional investors. Institutional investors are represented by commercial banks, investment funds, insurance companies and other legal entities. Shares: secondary Market, % 20 0 Corporate Bonds: secondary Market, % Clients of Institutional Investors brokerage/deal 36 ing companies Retail Investors Commercial Banks Brokerage/Dealing Companies Accumulative Pension Fund Non-residents in Corporate Bonds Gross Turnover, % Non-residents in Corporate Bonds Gross Turnover, % '8m '8m
19 18 Trading System Trading system for securities market Trading system for currency market Launched: 1997 Performance indicators: 100 bids per second trading accounts bids per trading session Supported trading methods: the continuous counter auction method (main trading method) and the Frankfurt trades method the specialized trades' method (issuance or buyback of securities, securities' subscription), the nego deals conclusion method Launched: 2015 Performance indicators: bids per second trading accounts bids per trading session Supported trading methods: the continuous counter auction method (main trading method) Settlement under Т+0, Т+2. Integration with clearing system IT-инфраструктура KASE: Торговая система
20 19 Trading System Trading system terminal: ensures functions for work of trading system administrators and professional market participants supports operations with more than 45 types of trading system objects contains more than 70 different screen forms Rotary system: FIX-Gateway market data for dissemination of the exchange's information (Bloomberg, Reuters) FIX-Gateway transaction for connection with the applications of the exchange's members
21 20 Clearing System In 2012 KASE got a license to perform clearing activities for transactions with financial instruments on the securities market. Objects/subjects of clearing service 52 clearing participants Currency market 33 Equities market 24 Derivatives market financial instruments Foreign currencies 17 (including currency swaps) Futures 14 Securities 8
22 21 Clearing System: Guarantee Fund Guarantee fund (total USD th): USD th on currency market USD 67.8 th on securities market USD 47.2 th on derivatives market of which USD 35 th on currency futures market segment USD 11.2 th on securities futures market segment Reserve fund: USD th on securities market USD th on derivatives market The National Bank of the Republic of Kazakhstan is exempt from margin and guarantee payments (p4 a2 The provisions of the clearing members). Clearing members that operate in full prepayment mode are exempt from guarantee payments on currency market.
23 22 Strategic Directions of Development attract new issuers extend investor base develop foreign exchange market improve clearing services strengthen cooperation with market participants and KASE members improve quality of services new corporate website enhance the KASE image and raise awareness of its activities promote market data upgrade IT-systems improve operational risk management system
24 Thank you for your attention! Contacts: Address: Kazakhstan, Almaty. Bayzakov St. 280, The north tower "Almaty Towers" Telephone: +7 (727) ; +7 (727) Fax: +7 (727) Internet Website:
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