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“Would you like to find out more about the setup and functioning of capital markets? Join us for 2 days of exploration of this fascinating topic, with an introduction and overview to the global and the African environment. Case studies will be used, based on practical examples of capital markets interventions, that will enhance your understanding of the importance of our capital markets and their development, for the growth of our continent”.  

Capital Markets: -

  • Financial Markets Infrastructure - mapping the value chain
    • Where do capital markets fit into this value chain
  • Essential components of the value chain

What are the Capital Markets? (including history, current global and African landscape)

  • Why do we need Capital Markets?
    • Case Study 1: IFC Thought Leadership Series “The Importance of Local Capital Markets for Financing Development”
  • How do we grow capital markets?
    • Case Study 2: WEF Accelerating Capital Markets Development in Emerging Economies
  • Operations
    • Primary market vs secondary market

The Legal and Regulatory Structure of the Market

  • Why should the Markets be regulated?
  • Role of the Regulator
  • Regulatory requirements, documentation, and the impact on participation in Capital Markets
  • Securities laws, rules and regulations governing the Capital Markets in general
  • Regulatory requirements of FMIs and why these matter

The Business of Capital Markets

  • The traditional Securities Exchange model
  • Modern Securities Exchanges and emerging trends
  • The strategic importance of alternative revenue streams

Liquidity - Looking at Debt and Equity Markets

  • Why is liquidity so important?
  • Different liquidity measurements and what they mean
    • Macro-level
    • Market level
    • Stock level
  • Liquidity comparisons

Case Study 3: Liquidity - Stock exchanges of the Philippines, Thailand and Brazil

Market development analysis

  • Early-stage emerging markets
  • Mid-stage emerging markets
  • Maturing emerging markets 

Product Development and Innovation

  • What makes one exchange more attractive than another?
  • What can we do to increase listings? 
  • Innovative products and sectors such as:
    • REITS
    • SPACS
    • M-Akiba
    • Tax-Free Savings Accounts
    • Sustainability products
      • Green and blue bonds
      • Social Impact Bonds
      • Social Impact Funds
      • Project Bonds
  • Cross-listings
  • Offshore issuances
  • Derivative products
  • What are they?
  • Why do they exist?
  • How do they contribute to the business?
  • Case Study 4: London Stock Exchange case study – LCMBs

(Post-trade infrastructure)           

CCPs and CSDs – where do they sit in the FMI value chain

  • The cycle of trading

Clearing House (CCP)

What is a Clearing House? Objectives

The importance of the Clearing House and how its role has evolved

  • How risk is mitigated
  1. A case study demonstrating value of CCP as well as failures
  • Central Clearing Houses vs Central Counterparty
  • Key success factors
  • Margins and calculations – working example
  • The CCP landscape in Africa
  • Case Study 5: Failure of CCPs – France, Kuala Lumpur, Hong Kong

Central Depository (CSD)

  • What is a Central Depository? Objectives
  • The importance of a Central Depository
    • Members/participants in the depository
    • Risk mitigation
  • Settlement and different models explained
  • Failure of the CSD
    • Implications and actions
  • Case Study 6: The Future of Post-Trade - Deloitte
  • Risks presented by FMIs – European debate and options presented

Dates

  • 27 & 28 February 2024
  • 9 & 10 July 2024
  • 30 & 31 October 2024

Time: 09:00 to 16:00
Cost: R11, 960.00 ex vat per person 

Venue: Virtual

Trainer Profile: Click Here

We are also able to offer one-on-one or group training, depending on your requirements. Please contact us to discuss our various offerings. If you would prefer a tailored training session to take place at your company premises, please let us know and we can tailor a training package to suit your requirements.

The course delivery is subject to a minimum attendance. All attendees will receive a course certificate on completion and CPD points.

To register or for more information: Please contact [email protected].

Non-endorsement

By using a service provider to offer the courses, the JSE does not directly or indirectly endorse any product or service provided, or to be provided by the service provider.