​Valuations​

Introduction:

​The Valuations function at the JSE determines the closing prices for the listed instruments at the Exchange as a representative of the most up-to-date valuation of a listed security.  The JSE’s valuation role is not to provide an economic fair value of a listed instrument where fundamental valuation approaches are included. The Exchange’s valuations are based solely on marked data.

The valuations criteria used are generally agreed in consultation with market participants and approved by the relevant advisory committees of the respective markets.

The valuation of a security is useful for both issuers and investors.  The determined value of a security that is deemed fair is easy to determine for liquid markets like cash equities and a little more challenging for over-the-counter instruments like bonds.

 Valuations Methodologies

 

 

Pricing Buy-Sell-Backs in South AfricaPricing Buy-Sell-Backs in South Africahttps://www.jse.co.za/content/JSEValuations Methodologies/Pricing Buy-Sell-Backs in South Africa.pdfpdf
Pricing Methodology for Inflation Indexed BondsPricing Methodology for Inflation Indexed Bondshttps://www.jse.co.za/content/JSEValuations Methodologies/Pricing Methodology for Inflation Indexed Bonds.pdfpdf
Bond Pricing Formula - SpecificationsBond Pricing Formula - Specificationshttps://www.jse.co.za/content/JSEValuations Methodologies/Bond Pricing Formula - Specifications.pdfpdf
Floating Rate Note Pricing V3Floating Rate Note Pricing V3https://www.jse.co.za/content/JSEValuations Methodologies/Floating Rate Note Pricing V3.pdfpdf
Instrument TypesInstrument Typeshttps://www.jse.co.za/content/JSEValuations Methodologies/Instrument Types.pdfpdf
New MTM Valuation Rules - 2016 JulyNew MTM Valuation Rules - 2016 Julyhttps://www.jse.co.za/content/JSEValuations Methodologies/New MTM Valuation Rules - 2016 July.pdfpdf
Pricing FRN's Specification FinalPricing FRN's Specification Finalhttps://www.jse.co.za/content/JSEValuations Methodologies/Pricing FRN's Specification Final.pdfpdf

 Valuations Notices and Consultations

 

 

20161102 Conventional Government Bond MTM Methodology20161102 Conventional Government Bond MTM Methodologyhttps://www.jse.co.za/content/JSEValuationsNoticesandConsultations/20161102 Conventional Government Bond MTM Methodology.pdfpdf

 IR Valuations AC

 

 

IRVAC Notes 20160915IRVAC Notes 20160915https://www.jse.co.za/content/JSEIRValuationsAC/IRVAC Notes 20160915.pdfpdf
IRVAC Terms Of Reference 20161104IRVAC Terms Of Reference 20161104https://www.jse.co.za/content/JSEIRValuationsAC/IRVAC Terms Of Reference 20161104.pdfpdf

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