Securities Depository Association.
||When used in the
context of a comparison or matching system, affirmation refers to the
counterparty’s agreement with the terms of the trade as communicated.
||Africa and Middle
rights accruing to owners of Securities, which are published by Issuers
by means of the Securities Exchange News Service (SENS) of the JSE, and,
where provided to the CSD, company reports and circulars.
||The process of
buying and selling similar Securities in different markets to take
advantage of the price difference.
||If delivery of
Securities is dependent upon the successful receipt of the same
Securities, then the two orders must be linked via Back-to-Back
||Books Closed Period.
The period during which the Register of Members is closed for
registration of transfers immediately prior to a benefit distribution.
Accounting service provided by the JSE. The system keeps the Securities
records and books of individual broking firms in respect of their
|Beginning of Day (BOD)
||The time as
stipulated in Directive SCC – Operation Market Windows – Equities.
||The true owner of
the Securities, as opposed to the custodian or a Nominee through whom
the Securities may be held and/or in whose name the Securities may be
||A distribution made
by companies to holders of their Securities in the form of cash or
Securities, usually in proportion to their holding. Cash benefits
include dividend and interest payments. Securities distributions include
rights, bonus and other entitlement issues. Also known as entitlements.
|BESA / Bond Exchange
||The bond Exchange of
South Africa, a Self Regulating Organisation SRO was responsible for the
regulation of the bond market and governed by the Financial Markets
Control Act (FMCA) of 1989 or any replacement Act (Replaced by the
Securities Services Act No 36 of 2004.
Code. This is the SWIFT identifier code of organisations with a SWIFT
Download. A monthly download containing Beneficial Owner information of
dematerialised holdings, provided monthly by-
- Participants to
- Strate to the Issuer
- Brokers to Strate
- Strate approvedNominees to Strate
||Beginning Of Day -
the series of processes executed by the CSD at the beginning of every
||A legal contract
specifying the terms and conditions between the Issuer and investor.
|Book entry system
||An accounting or
ledger system which facilitates the holding and transfer of Securities
electronically. This enables the transfer of Securities between
accounts, without the need for physical movement of share certificates
and other documents.
User/Member, being a person authorised by an Exchange in terms of the
Exchange Rules to perform such Securities Services as the Exchange Rules
||Broker is a trading
party, who trades in the Security market either for it'self or for it's
Clients. Also referred to as a Member or Authorised User.
||Any day which Strate
does business, except a Saturday, Sunday or public holiday or any other
day that Strate is closed. Strate can in it’s discretion decide to
accommodate the opening of an operational window on a non-Business Day,
- Strate has three
Business Days prior notice of the requirement; and
- all other parties
involved have been informed by the requesting party.
|C & S
|Capital Gains Tax (CGT)
||A tax on profits
realised from buying a Security at one price and selling it (or holding
it to redemption and then redeeming it) at another.
Administration of Securities (Act No 85 of 1992) as amended or replaced
from time to time and includes regulations issued there-under.