OREANDA-NEWS. August 09, 2011. As previously informed, Kazakhstan Stock Exchange (KASE) Board of Directors on March 31, 2011 approved the new version of KASE internal document "Methodology of Securities Valuation" (the Methodology) that stipulates significant changes if compared with the Methodology in force, reported the press-centre of KASE:

1. the order of GS grouping for their valuation has been changed;
                                                                  
2. approach to valuation of corporate bonds has been changed;

3. criteria used for separation of shares in liquid and non-liquid ones for their valuation have been changed;

4. discount rates for market prices of GS designed for their use in auto repo transactions have been adjusted due to a change in the CS grouping procedure.

The Methodology new version has been submitted to the Committee on Regulation and Supervision of Financial Market and Financial Organizations of the National Bank of the Republic of Kazakhstan (FSC NBK) and will become effective after approval by KASE Management Board decision.

Due to the above mentioned from the date the Methodology will b given effect KASE plans to change the structure of files with data on market valuation of equity and debt securities, published weekly on the first working day on KASE Internet site at http://www.kase.kz/en/marketvaluation

The structure of files with data on market valuation in the XLS format will be changed as follows:

1. the page "IFO" with the data on market prices of international financial organizations securities has been added;

2. the list "Notes of NBK" has been deleted;

3. the name "Shares of Kazakhstan Issuers" will change to "Shares";

4. the name "Corporate Bonds of Kazakhstan Issuers" will change to "Corporate Bonds";

5. the name "Bonds of the Ministry of Finance" will change to "GS of the Republic of Kazakhstan"; on this list will be published the data on market valuation of MEOKAM, MEUKAM, MEKKAM, MUIKAM, MOIKAM, MEUJKAM, MAOKAM and notes of the National bank of the Republic of Kazakhstan;

6. on the page "Corporate Bonds" in the field "Market price, in % to a face value" will be replaced columns "without discount, "dirty" and "with discount, "dirty" (for KASE purposes)" columns " without discount, "net" and "Yield to maturity, % APR" will be filled in only for debt securities traded on KASE in "net" prices;

7. the column "Face Value" or "Nominal" will be deleted from each page of this file;

8. pages "Shares" and "Corporate Bonds" will be supplemented with columns "ISIN" - securities international identification codes.

The structure of files with data on market valuation in the TXT format will be changed as follows:

1. the field "Face Value" will be deleted;

2. the field "Quotation Currency" will be deleted;

3. instead of "net" price will be indicated "dirty" price;

4. the field "ISIN" will be added.

Thus, each line of the TXT format file will have five fields:

1. security national identification number (NIN);

2. security international identification number (ISIN);

3. "dirty" price in % from a face value for debt securities or price in tenge for equity securities;

4. GS yield to maturity for a buyer in % APR (for shares and corporate bonds the field value of this field - "Null" (empty));

5. active market: for shares that have an active market - "1", for the rest of  shares - "0" (for other securities this field value - "Null" (empty)).

The new Methodology text is available on KASE website at
http://www.kase.kz/files/normative_base/met_ocen_zb_new_eng.pdf

The Methodology in force is available on KASE website at
http://www.kase.kz/files/normative_base/met_ocen_zb_eng.pdf