The introduction of electronic trading, clearing and rolling, contractual, settlement significantly enhanced the appeal of South Africa as an investment destination. This required the adoption of a number of common standards and benchmarks which had already been identified in other, leading, markets around the world. Strate has been guided by organisations such as the International Organisation for Securities Commissions (IOSCO) and the Group of 30 (G30) in the establishment of a world class facility. The adoption of these standards has proven invaluable to the South African market and has greatly enhanced our ability to reduce (and even remove) barriers which have previously existed in respect of our securities industry. The ability to capitalise on desirable characteristics of products and services (such as, inter alia, quality, reliability and efficiency) which have been identified elsewhere has led to the timeous sharing of key technological advancements and good management practices in an industry which is inherently reliant on sound practices.
It is, however, imperative that we continue to protect an environment which is built on the promotion of level playing fields which ascribe to the highest standards for entities providing custody and settlement services. Solutions to common problems and areas of innovation can be quickly disseminated around the world and provide an ideal opportunity for fairer trade across legislative boundaries. Strate has, as one of its core objectives, the aim to drive global best practices and develop value added opportunities for itself and the South African market infrastructure as a whole. We pursue this objective by serving as a catalyst for new thinking in a rapidly changing environment.