Moving to T + 3
Whilst South Africa continues to pride itself on the fact that there
have been no failed trades for equity securities since go-live of
electronic settlement in 1999, a pertinent issue is the fact that South
Africa seems to be playing catch up with its T+5 processing times as
other global markets have embraced T+3 and some are now looking to move
to T+1.
If the JSE is to remain competitive and
attractive for global investment it must ensure that its investment
process is cost effective, customer centric, secure and aligned to
global best practices with the focus of T+3 being aligned to global
best practice.
It has become apparent that it is in the
best interest of the South African market to move from T+5 processing
to the global benchmarked T+3 processing.
In terms of
this the JSE, through the Clearing & Settlement Division, initiated
the “Moving to T+3” project which aims at identifying all
the potential barriers that hinder the move to T+3 and the high level
action points to overcome such barriers with minimum risk and
disruption to the South African market.
The Project has been broken into 3 distinct phases:
- Phase
1:- Workshops with all market constituents with an output of a document
detailing the barriers and the high-level activities to overcome such
barriers with agreed nominated parties to continue the investigations
and estimated timeline for completion;
- Phase 2:-
The creation of Workgroups by the responsible parties to further the
investigations with their combined outputs being the creation of a
“Blueprint for T+3” document and the delivery dates of such
outputs; and
- Phase 3:- Implementation Plan for T+3.
Phase
1 has been completed and a document entitled “Action Plan –
Move to T+3” detailing the barriers and the high-level activities
to overcome such barriers with agreed nominated parties to continue the
investigations and estimated timeline for completion has been produced
and approved by the JSE Exco on 15 October 2007.
Phase
2 is currently being entered into and has various deliverables and
timelines as detailed in the document entitled “Action Plan
– Move to T+3
20070821-B&A Moving Shares & Off Markets
B&A Moving shares & off Markets
|
Wednesday, 05 August 2009
|
120.00 KB |
|
|
|
20070620-Project Management Approach to moving to T 3
Project Management Approach to moving to T+3
|
Wednesday, 05 August 2009
|
299.00 KB |
|
|
|
20070629-Overcoming Barriers for moving to T 3
Overcoming Barriers for Moving T+3
|
Wednesday, 05 August 2009
|
537.50 KB |
|
|
|
20070821-Process Flow Movement of Shares
Process Flow Movement of Shares
|
Wednesday, 05 August 2009
|
225.50 KB |
|
|
|
20070904-B&A Providing Settlement Assurance
B&A Providing Settlement Assurance
|
Wednesday, 05 August 2009
|
100.50 KB |
|
|
|
20071106-High Level Action Plan
High Level Action Plan
|
Wednesday, 05 August 2009
|
464.00 KB |
|
|
|
20070717-B&A Dematerialization & SLB
B&A Dematerialisation & SLB
|
Wednesday, 05 August 2009
|
202.58 KB |
|
|
|
20070911-B&A -CSR & Real Time Trade Processing
B&A CSR & Real Time Trading Process
|
Wednesday, 05 August 2009
|
190.50 KB |
|
|
|
20070807-B&A Corporate Actions
B&A Corporate Actions
|
Wednesday, 05 August 2009
|
535.32 KB |
|
|
|
20070724-B&A STP & Systems Availability
B&A STP Systems availability
|
Wednesday, 05 August 2009
|
194.36 KB |
|
|
|
STP_2407
|
Thursday, 28 January 2010
|
1.37 MB |
|
|
|
Approach - Move to T 3_V1 0 Final
|
Thursday, 28 January 2010
|
660.50 KB |
|
|
|
Setting course for T3 Exco
|
Thursday, 28 January 2010
|
517.00 KB |
|
|
|
System Availability_2407
|
Thursday, 28 January 2010
|
1.04 MB |
|
|
|
ApproachDocMoving to T 3_V2 0 Final
|
Thursday, 28 January 2010
|
245.50 KB |
|
|
|
Barriers and Activities_1707
|
Thursday, 28 January 2010
|
97.00 KB |
|
|
|
Barriers and Activities_2407
|
Thursday, 28 January 2010
|
80.00 KB |
|
|
|
Overcoming Barriers Doc_V1 0
|
Thursday, 28 January 2010
|
446.00 KB |
|
|
|
20070821-Off_Markets
Off-Markets
|
Wednesday, 05 August 2009
|
567.50 KB |
|
|
|
20070904-Settlement_Assurance
Settlement Assurance
|
Wednesday, 05 August 2009
|
532.50 KB |
|
|
|
Blueprint
Blueprint for the Move to T+3
Migrating from T+5 to T+3