OREANDA-NEWS. April 12, 2010.As of 01.04.2010, 48 interest yield GLTB issues (including 5 bond issues with the par value of BYR 1,000,000.00 and 43 bond issue for the par value of BYR 100,000.00), 3 discount yield GLTB issues (par value is BYR 100,000.00 for a bond) have been admitted to the BCSE circulation. 

In March 2010, there were 922 government securities transactions totaling to BYR 1 834.76 bn or 17 778 935 bonds (there were 1 119 transactions totaling to BYR 2 687.25 bn or 27 496 831 bonds in March 2009).

In March 2010, the “before redemption” transactions average weighted yield regarding DGLTB was 12.97 % per year, regarding IGLTB was 14.58% per year. An average REPO rate, regardless REPO period, regarding DGLTB was 15.40% per year, regarding IGLTB was 15.08% per year.

In Q1 2010, there were 2 936 government securities transactions totaling to BYR 5 284.57 bn or 52 405 049 bonds (there were 3 163 transactions totaling to BYR 5 989.33 bn or 62 449 305 bonds in Q1 2009).

In Q1 2010, the “before redemption” transactions average weighted yield regarding DGLTB was 12.56 % per year, regarding IGLTB was 16.76% per year. An average REPO rate, regardless REPO period, regarding DGLTB was 15.72% per year, regarding IGLTB was 16.70% per year.

As of 01.04.2010, 28 banks and 15 non-banks securities market professional participants were admitted to the government securities secondary trades. Belarusbank became the operation volume leader, and Bank Moscow-Minsk – the leader by number of transactions in the secondary government securities market in March and Q1 2010.

The primary corporate bond market (Local Loans Bonds (LLB) exclusive)

As of 01.04.2010, 13 bond issues of 7 issuers were admitted to the exchange distribution.

There was no bond distribution at the BCSE in a “simple auction” mode in March and Q1 2010.

In March 2010, the following Issuers distributed their own bond issues in a “forward transaction” mode: Bank VTB (Belarus) (issue No.4, No.5); Belarusbank (issue No.76 (ETB); Belagroprombank (issues No.57(ETB), 60 (ETB); Belinvestbank (issue No.25 (ETB); Paritetbank (issue No.5); ASB Leasing . Seven issues are exchange-traded bonds (ETB) of such Issuers as Belarusbank, Belagroprombank and ASB Leasing (issues No.5 (ETB), 6 (ETB).

These operations resulted in 9 transactions in bonds of 2 Issuers totaling to BYR 178.8 bn or 178 324 bonds. The average weighted yield was 15.85 % per year. (In March 2009, there were 13 primary distributions of corporate bonds totaling to BYR 43.29 bn or 427 554 bonds)

In Q1 2010, the following Issuers distributed their own bond issues in a “forward transaction” mode: Alfa-Bank (issue No.3); Bank VTB (Belarus) (issues No.4-5); Belarusbank (issues No.56 (ETB), No.76 (ETB); Belagroprombank (issues No.55-56, No.57 (ETB), No.60 (ETB); Belinvestbank (issue No.25 (ETB); BPS-Bank (issue No.28); Belarusian Industrial Bank (issue No.4); Paritetbank (issue No.5); ASB Leasing (issues No.2-6  (ETB).

These operations resulted in 54 transactions in bonds of 8 Issuers totaling to BYR 354.59 bn or 962 891 bonds in Q1 2010. The average weighted yield was 16.77 % per year. (In Q1 2009, there were 17 primary distributions of corporate bonds totaling to BYR 74.86  bn or 737 554 bonds.

As of 01.04.2010, 25 banks and 38 non-bank securities market professional participants were admitted to the participation in the bonds distribution purchase.

The secondary corporate bond market (LLB exclusive)

As of 01.04.2010, 89 bond issues of 24 Issuers were admitted to the exchange circulation, including 56 bond issues of 9 banks which were admitted to the First Level Quotation List A and 33 bond issues of 15 Issuers were admitted to the Out-of List circulation.

In March 2010, there were 46 corporate bond transactions in the exchange trade system totaling to BYR 41.31 bn or 280 387 bonds, including 41 transactions settled in Belarusian rouble totaling to BYR 30.55 bn, one transaction settled in US dollar totaling to USD 0.01 m or 10 bonds, 4 transactions settled in euro totaling to EUR 2.68 m or 2 630 bonds. There were 37 bonds transactions totaling to BYR 60.40 bn or 587 376 bonds in March 2009.

In March 2010, S-T+0 and S-T+n transactions average weighted yield reached 16.27 % per year. The average weighted rate of S-REPO bonds transactions was 19.33 % per year.

In Q1 2010, there were 195 corporate bond transactions in the exchange trade system totaling to BYR 181.62 bn or 1 019 797 bonds, including 41 transactions settled in Belarusian rouble totaling to BYR 30.55 bn, 8 transactions settled in US dollar totaling to USD 0.76 m or 300 bonds, 6 transactions settled in euro totaling to EUR 4.04 m or 3952 bonds. There were 104 bonds transactions totaling to BYR 417.20 bn or 1 792 902 bonds in Q1 2009.

In Q1 2010, S-T+0 and S-T+n transactions average weighted yield reached 17.32 % per year. The average weighted rate of S-REPO bonds transactions was 19.53 % per year.

As of 01.04.2010, 25 banks and 38 non-bank securities market professional participants were admitted to trades.

In March and Q1 2010, MTBank became the leader by operation volume and by number of transactions in the secondary corporate bond market.

The secondary LLB market

As of 01.04.2010, 70 bond issues of 42 Issuers were admitted to the Out-of List circulation. In March 2010, there were 5 transactions totaling to BYR 190.21 bn or 100 009 bonds of executive-administrative authorities bonds. The average weighted yield of the S-T+0 and S-T+n transactions was 10.27 % per year.

In Q1 2010, there were 20 transactions totaling to BYR 683.43 bn or 312 315 bonds of executive-administrative authorities bonds. The average weighted yield of the S-T+0 and S-T+n transactions was 8.05 % per year. The average weighted rate of S-REPO bonds transactions was 18.50 % per year.

There was no LLB transaction in Q1, 2009.

The secondary equity market

As of 01.04.2010, 1 804 issues of 1 738 Issuers were admitted to the exchange circulation, including 2 issues of one Issuer which were admitted to the First Level Quotation List A, 22 issues of 21 Issuers were admitted to the Second Level Quotation List A, 50 issues of 50 Issuers were admitted to the Quotation List B and 1 730 issues of    1 666 issuers were admitted to the Out-of List circulation.

In March 2010, there were 1 674 equity transactions in the exchange trade system totaling to BYR 30.71 bn or 10 501 527 equities, including 1 665 transactions settled in Belarusian rouble totaling to BYR 6.98 bn, 2 transactions settled in US dollar totaling to USD 7.85 m or 4 778 995 bonds, and 7 transactions settled in Russian rouble totaling to RUB 1.44 m or 157 654 equities. In March 2009, there were 950 equity transactions totaling to BYR 21.86 bn or 24 594 860 equities.

In Q1 2010, there were 2 164 equity transactions in the exchange trade system totaling to BYR 37.63 bn or 13 120 171 equities, including 2 154 transactions settled in Belarusian rouble totaling to BYR 13.84 bn, 2 transactions settled in US dollar totaling to USD 7.85 m or 4 778 995 bonds, and 8 transactions settled in Russian rouble totaling to RUB 2.10 m or 172 654 equities. In Q1 2009, there were 2 411 equity transactions totaling to BYR 42.13 bn or 27 378 415 equities.

As of 01.04.2010, 25 banks and 38 non-bank securities market professional participants were admitted to the equities secondary trades.

In March and in Q1 2010, Belgazprombank became the operation volume leader, and BPS-Bank was the leader by number of transactions in the secondary equity market.

Summary totals

As of  01.04.2010, the number of admitted to the exchange circulation issuers totaled 2 014 securities issues. 

In March 2010, there were 2 736 purchase and sale securities transactions totaling to BYR 2 275.79 bn or 28 839 182 securities. In March 2009, there were 1 922 purchase and sale securities transactions totaling to BYR 2 812.80 bn or 53 106 621 securities. 

In Q1 2010, there were 5 369 purchase and sale securities transactions totaling to BYR 6 541.85 bn or 67 820 223 securities. In Q1 2009, there were 5 695 purchase and sale securities transactions totaling to BYR 6 523.52 bn or 92 358 176 securities.