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Central Clearing On The Horizon: What South Africa’s Over-the-counter Derivatives Reforms Mean For The Financial Sector
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
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