The role of the JSE Clearing and Settlement division - Cash Equities Market:
JSE Clearing and Settlement performs a similar role to that of a clearing house in providing settlement assurance for the JSE's Equities Market.
The functions of the JSE Clearing and Settlement division - Cash Equities Market:
This team provides settlement assurance for trades dealt in Cash Equities listed on the JSE. The division performs the role of the settlement authority as required by the JSE Rules and directives in ensuring that trades dealt in Equity Securities listed on the JSE executed on Equity trading are settled in accordance with the principles of T+3 rolling contractual settlement.
In providing this assurance, the team performs the following functions:
• Monitoring settlement to ensure settlement takes place as per the JSE Rules and directives for the Equities Market.
• Performing securities and money lending and borrowing as lender of last resort.
• Rolling of settlements.
• Fails trade management procedures (give-ups).
Inward listings for equities reporting.
Money Market International Securities Identification Number (ISIN) reporting.
Unlisted ISINS for equities reporting
•Black Economic Empowerment (BEE) reporting