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 […]
CSD Working Group Releases Product Requirements for General Meeting Proxy Voting on Distributed Ledger
CSD Working Group on DLT, an association of Central Securities Depositories working on developing reference products using Distributed Ledger Technology, has released product requirements for the proxy voting business case during the International Securities Services Association (ISSA) Operational Committee meeting in London on April 24, 2017. The document titled “General Meeting Proxy Voting on […]
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.
The Central Securities Depositories (CSDs) Strate, South Africa and NSD, Russia have signed a Letter of Intent at the Sibos event in Geneva in September 2016. The intention is to forge a partnership between the two CSDs to develop solutions utilizing Distributed Ledger Technology (DLT) with the first use case focused on proxy voting. […]
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.
Strate successfully implemented the SWIFT Standards Release Guide (SRG) 2015 and the BND Release on Monday 23 November 2015.
The financial markets are evolving and the next exciting catalyst for change is Blockchain, and while in its infancy, it has the industry talking. Born out of the crypto currency Bitcoin, the Blockchain technology is an efficient and transparent cryptographic ledger system – or a chronological order of all Bitcoin transactions recorded in a […]
Account Segregation at a CSD level has been a long-standing topic in the post-trade environment since 2008, when asset protection and transparency came to the fore of regulatory requirements. Strate recently interviewed Aleksander Nervik, the Head of Investor & Issuer Services at Norwegian CSD, VPS to discuss the account structure used at VPS, as […]
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