South Africa: Commodities/Derivatives/Stock Exchanges

South Africa is preparing to implement mandatory central clearing for certain over-the-counter derivatives by 2028, marking one of the most significant regulatory changes to its derivatives market in over a decade. The South African Reserve Bank has confirmed that the framework will initially apply to rand-denominated interest rate swaps and forward rate agreements, with additional derivative classes to be introduced gradually. Market participants across the financial services industry will need to assess t

South Africa's Market Practitioners Group has formally endorsed the development of Term ZARONIA, a forward-looking reference rate designed to replace JIBAR before its year-end 2026 discontinuation.

A Gauteng High Court judgment concludes that Bitcoin qualifies as both "capital" and "money" under South Africa's Exchange Control Regulations, raising fundamental questions about how distributed ledger technology...

*Coronavirus (COVID-19) regulatory measures...

The London Interbank Offered Rate ("LIBOR") will soon begin its long good-bye.

Live webinar recording: ENSafrica Webinar | Understanding Close-out Netting

Following downgrades by ratings agencies Standard & Poor's and Fitch in April 2017, Moody's cut South Africa's foreign and local-currency ratings to investment grade Baa3 with a negative outlook...

It has also circulated a letter confirming the implementation dates of certain amendments, notwithstanding an effective date of 19 June 2017.

On 15 December 2016, we published a communication following the release by the JSE Limited (the "JSE") of a new set of proposed JSE Debt Listing Requirements (the "DLRs").