As one of the Top 20 largest exchanges in the world by market capitalisation ranked by the World Federation of Exchanges, the JSE provides Issuers with access to deep and liquid capital markets in a regulated and secure marketplace for over 130 years.

The JSE’s capital markets enable innovation, raising capital and shared prosperity. As a leading global exchange, the JSE co-creates and unlocks value through innovative products and services that meet the needs of our clients.

In addition to being the first stock exchange globally to introduce a sustainability index and to incorporate a move toward integrated reporting, the JSE continues to provide sustainable products for investors to trade such as the Sustainability Index Futures

About the Index Futures:

  • ESG Index Futures from the JSE are based on the tradable and equally weighted Top 30 index calculated on a real time basis, with the Top 30 companies being ranked by FTSE Russell ESG Rating.
  • As sustainable investing continues to grow, an investor can gain leveraged exposure into ESG rated companies through this product.
  • Investors can gain leveraged exposure into ESG rated companies through RI Top 30 Index futures.
  • Gearing provides a capital efficient way to gain exposure to a basket of shares, creating greater volatility which amplifies gains and losses.
  • This product allows investors to take advantage of price movements in the underlying Index and allows for Portfolio diversification.

Key benefits and features:

  • An Index Futures contract gives investors the ability to buy or sell an underlying listed financial instrument at a fixed price on a future date. These products are cash settled and easily accessible via JSE Equity Derivatives members.
  • Our ESG futures are centrally cleared by JSE Clear, providing market participants with a robust clearing mechanism that eliminates counterparty risk. The futures are also Marked-to-Market daily, allowing investors to accurately value the positions.
  • Investors can use the RI Top 30 Index future to hedge existing ESG risk.
  • In the case of derivatives, you have no voting rights or any other ownership rights that would traditionally fall to a holder of the underlying equity.

 

GENERAL TERMS

Description

Index Future (Cash settled)

Index Code

 J110

Underlying

FTSE/JSE Responsible Investment Top 30 Index

Exchange

JSE Limited

Contract Size (Multiplier)

10 (i.e., each future references the index, multiplied by 10 ZAR)

Quotation

Quoted to one (1) index point.

Minimum Price Movement

One (1) index point

Option Strike Interval

Ten (10) index points

JSE Trading Fees

See Equity Derivative Booking Fee Schedule:

JSE Fees 2022

EXPIRATION AND VALUATION PROCEDURE

Expiration Date

15 June 2022 Further expiration dates may be added upon request

Valuation and Settlement Reference Price

The official closing level of the Underlying Index as determine at the End of Auction Call session that corresponds to the Standard Futures Close-Out period.

Settlement Method

Cash- Settlement

*The JSE reserves the right to amend the levels of the Initial Margin, Class Spread Margin and V.S.R

 

Contact us below to enquire about any of our Sustainability Products on offer

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The JSE will ensure that the information you submit to us via our website or our third party service provider is only used for a representative to contact you. You consent to the processing (as contemplated in the Protection of Personal Information Act, No. 4 of 2013, as amended). of your information for such purpose.