Post on 12-Jan-2016
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AMEDA Conference
Mauritius
PRESENTED BY: Monica Singer, CEODATE: May 2008
We are committed to be the trusted and preferred
centralised provider of products and services which
are accessible to, and create value for, our current
and future stakeholders
Vision of Strate
Strate’s Strategic Direction
Strate’s purpose is to provide stakeholders
with clearing, settlement and depository
services for securities, enabling end-to-end
pragmatic, reliable, innovative solutions that
facilitate the management of risk and the
realisation of value.
Purpose of Strate
Strate’s Strategic Direction
History of Strate
October 1996-project begins
September 1997-technology to be acquired identified
May 1998-contract for system implementation signed with TCS and SARB goes live with
SAMOS
1999-Legislation amendments approved by Parliament
November 1999-system live with Harmony Gold Mine
July 2000-12 more companies into Strate
March 2001- schedule for all companies to move into Strate approved
January 2002-all listed companies settling in Strate
August 2003-merger with Unexcor and CD Ltd approved
Clearing and settlement of equities, bonds and money market instruments (2009)
Benefits of Strate
Rolling, contractual, guaranteed settlement
Simultaneous final irrevocable delivery versus payment in Central Bank Funds
Reserve Bank connectivity and payments via Central Bank funds
World class settlement system – SAFIRES
S.W.I.F.T Connectivity (ISO 15022 standards) and WAN
Risk Management – given top ranking by Thomas Murray
Corporate Actions processing with no claims
Robustness of support for business continuity capability and Disaster Recovery
G30 compliance except T+ 3 for equities
Adoption of IOSCO principles
Electronic securities lending and borrowing
No failed trades
Markets we service
Equities – Shares, Exchange Traded Funds and Warrants (T+5)
Alt-X (T+5)
Yield-X (T+3)
Bonds (T+3)
MMI – November 2008 (T+0)
Namibian Stock Exchange (NSX) (T+5)
Strate’s Shareholders
Board Composition
Chairman (Independent Non Executive)
One executive director
Two representatives from the JSE Ltd (shareholders)
Two representatives from the Banks / Participants (rotation basis) (shareholders)
One representative from issuers
One representative from asset managers
Five independent non executive directors
Management Team
CEO
Head of Marketing and HR
Head of Finance
Chief Operating
Officer
Head of Risk
Management
Head of Legal
Head of IT
Head of Clearing
And Settlement
Head of Issuer
And Asset Servicing
Project Office
Head of Supervision
Total number of employees as at end March 2008 = 114Total number of employees as at end March 2008 = 114
Market activity on the JSE – Number of TradesM
illio
nsM
illio
ns
Market activity on the JSE – Annual Turnover
Liquidity – 40%Liquidity – 40%
Market activity on the Bond Exchange of South Africa – Nominal Value of Issues
Market activity on the Bond Exchange of South Africa - Market Turnover
Liquidity – 1900%Liquidity – 1900%
Current Projects
Electronic settlement of Money Market Instruments (Nov 2008 – proposed pilot phase)
Corporate Action Automation (System selection underway)
Bonds Automation (replace and enhance the current bonds system)
T+3 for equities
Application Service Provider Custody Solution (Strate / TCS to provide a custody
technology solution for participants)
SRG 2008 (SWIFT release)
TASE (Facilitate offshore investment to settle in a foreign CSD and mirrored in Strate),
a joint venture with Citibank.
Current Research / Future Projects
Settlement of Carbon Credits
Implementation of Retail model / Securities Ownership Register
Issuer Services Enhancement (E-proxy, E-books, E-AGM to enhance communication
between issuers and investors
Dematerialisation of title deeds
Available to other CSDs
Money Market Instruments including ISO 15022 standards
International Best Practice Research – findings, concepts and Request For Information
responses
Application Service Provider Custody Solution model
Depository clearing and settlement using Strate’s technology as a hub