/KASE, January 23, 2017/ – As of February 20, 2017, following a decision of the
Committee on Indexes and Securities Valuation (hereinafter – the Committee) of
Kazakhstan Stock Exchange (KASE) for purposes of the market valuation of non-
indexed government bonds of the Republic of Kazakhstan (hereinafter – GS) of
the second subgroup (GS with a term of 100 or more days to maturity)
parameters of deals concluded in them within 330 calendar days preceding the
valuation date will be used.
We remind you that in accordance with the Methodology for valuation of
securities (hereinafter – the Methodology), non-indexed GS are valuated at yield
to maturity, whose values are determined within set sub-groups depending upon
the term to maturity of each security. At the same time, one sub-group includes
securities whose yield to maturity dependence on the number of days to maturity
can be most precisely described by a polynomial trend equation. The polynomial
trend equation for each sub-group is determined by way of approximation of
parameters and deals executed, concluded on KASE in GS of a particular sub-
group during a certain timespan, preceding the valuation date (hereinafter and
in the heading – Base period), whose duration is set by the Committee.
The Base period duration is set by the Committee on the following terms: the
Base period must be at least 60 days and not longer than 360 calendar days; its
duration expressed in days must be dividable by 30; the period must include at
least 25 effective days for GS, included in each sub-group.
Before February 20, 2017 for purposes of executing the market valuation of the
second sub-group GS KASE used the Base period of 300 calendar days.
According to item 20-1 of the Methodology of Securities Valuation, the Base
period for GSs of the second sub-group, for purposes of adjusting values of
market prices to the current market conditions, was extended by 30 days to 330
calendar days.
The Methodology is available on KASE website –
http://www.kase.kz/files/normative_base/met_ocen_zb_eng.pdf
All persons interested in issues related to the Methodology and procedure of
calculation of market prices can turn to the Department for Information and
Statistics on: (727) 237 53 18, e-mail: info@kase.kz
[2017-02-20]