Debt Market​​

Th​e JSE regulates the largest listed Debt Market in Africa, both by market capitalisation and by liquidity. It has done so since 2009, when it acquired the Bond Exchange of South Africa.

At the end of 2013, the JSE had roughly 1 600 listed debt instruments, totalling more than R1.8 trillion nominal outstanding. More than half of the debt listed on the JSE is placed by the South African government. Other issuers include South African state-owned companies, corporates, banks and other African countries.

The South African debt market is liquid and well developed in terms of the number of participants and their daily activity. Roughly R25 billion is traded daily.

You can access the following through the JSE’s Debt Market:

Governme​nt Bonds: More than R1 trillion is currently listed and these instruments account for 90% of all liquidity reported to the JSE. In 1998, the National Treasury appointed 12 primary dealers to make a market in their listed debt. At the end of 2013, there were eight primary dealers permitted to bid at weekly d​ebt auctions. Primary dealers are required to make a secondary market in qualifying RSA paper.

Corporate B​onds​: Since the first Corporate Bond was issued in 1992, more than 1 500 corporate Debt Instruments have been listed on the JSE Debt Market. Liquidity remains relatively low compared with government debt, but issuance keeps growing.

Repo Market: The JSE Repo Market is an active and liquid funding market, with daily funding exceeding R25 billion. It has seen daily spikes in excess of R200 billion, which bears testimony to the liquidity and efficiency of the market. ​

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 Market Information

 

 

686686363082https://www.jse.co.za/content/JSENoticesandCircularsItems/686.pdf12/23/2016 8:00:00 AMpdf
685685364648https://www.jse.co.za/content/JSENoticesandCircularsItems/685.pdf12/22/2016 10:00:00 AMpdf
Changes to Initial Margin Requirements for Global Market DerivativesChanges to Initial Margin Requirements for Global Market Derivatives433445https://www.jse.co.za/content/JSEFAQsItems/365A.pdf7/26/2016 10:00:00 PMpdf

 Fee Schedules

 

 

Bonds Trading Fees Market Notice 2016Bonds Trading Fees Market Notice 2016479751https://www.jse.co.za/content/JSEPricingItems/BondsTradingFeesMN2016.pdf11/16/2015 10:00:00 PMpdf

 Pricing Methodologies

 

 

Debt Market - MTM Valuation Rules Debt Market - MTM Valuation Rules 601325https://www.jse.co.za/content/JSEPricingItems/NewMarkToMarketValuationRules.pdf3/26/2014 10:00:00 PMpdf
Money Market Subcommittee (MMS) Floating Rate Note Pricing SpecificationMoney Market Subcommittee (MMS) Floating Rate Note Pricing Specification709641https://www.jse.co.za/content/JSEPricingItems/FloatingRateNotePricingV3.pdfpdf
Interest Rate Pricing StructureInterest Rate Pricing Structure490251https://www.jse.co.za/content/JSEPricingItems/InterestRatePricingStructure.pdfpdf
Schematic Representation of Bond PricingSchematic Representation of Bond Pricing70891https://www.jse.co.za/content/JSEPricingItems/SchematicRepresentationofBondPricing.pdfpdf
Interest Rate and Currency Pricing StructureInterest Rate and Currency Pricing Structure219743https://www.jse.co.za/content/JSEPricingItems/InterestRateCurrencyPricingStructure.pdfpdf
Pricing Methodology for Inflation Indexed bondsPricing Methodology for Inflation Indexed bonds167974https://www.jse.co.za/content/JSEPricingItems/PricingMethodologyforInflationIndexedbonds.pdfpdf

 

 

 

 

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