The South African bond market will soon receive a new clearing and settlement system that will replace the one that has served the market since 1991. The revolution is being spearheaded by the country’s Central Securities Depository, Strate, which owns the current bond settlement system it inherited from UNEXCor, following a merger between both […]
Strate, a South African Central Securities Depository (CSD), has welcomed the official go-live of South Africa’s newest bourse, ZAR X, after successfully integrating the exchange into Strate’s clearing and settlement platforms. At the beginning of September 2016, the Financial Services Board notified the market that it had granted ZAR X an exchange licence. Strate […]
All too often, good infrastructure goes unnoticed. This is probably one of the reasons why few South Africans know and understand the country’s Central Securities Depository, Strate, however, without it, investors would shy away from South Africa.
Prior to the implementation of Strate in 1999, SA was categorised as one of the worst emerging markets in terms of operational and settlement risk. Trading volumes on the stock exchange were averaging 4,000 trades daily, very thin when this is compared to the 350 000 on average during a month today.
From a Thomas Murray AA- rating, to Strate being ranked among the top Central Securities Depositories globally, click here to view an infographic that tells you all the fast facts that you need to know about Strate.
Strate’s success lies in its independence and good corporate governance. It has continued to be a trusted and independent party in the market, which is evident by Strate offering CSD services to new stock exchanges. At the beginning of September 2016, the Financial Services Board notified the market that it had granted ZARX and […]
With an average of R2.4 trillion bonds under Strate’s custody, Strate’s bond market clients will soon enjoy using one of the best and most-used CSD technologies globally, the TCS BaNCS Market Infrastructure (MI). It will enable the move from older technology ISO15022 standards to ISO20022 standards. Issuers will also be provided with an interface that […]
On Monday 11 July 2016, history was made. The JSE’s equities market, which used to run on a five business day settlement cycle for the past few decades, moved to a new three business day settlement cycle (T+3). This formed part of a project spearheaded by the JSE.
In February, Strate launched a new system for the settlement of money markets securities. The new system was selected for being a world-class CSD solution for the electronic settlement of securities. The implementation of money markets was the first project to be launched that forms part of a wider programme where Strate will […]
Governance. Compliance. Risk. Three words that are well known to any chartered secretary. So when it comes to the post-trade environment and the processing of corporate actions, why should someone in the profession settle for anything less? For close to two decades, Strate has provided the local market with the highest governance standards, compliance […]
One of the most significant risks that has plagued markets since the beginning of time has been that a seller would deliver their securities (equities, bonds, money market instruments), but would not receive payment in return, or that the buyer would make payment and will not receive what they had paid for. This is referred to as Principal Risk. […]
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