1 Market Operations Town Hall Meeting June 2013 Johann van Tonder

2 Update – JSE Projects  Equities T+3 implementation  phase 1 – brokers & CSDP’s - July 2013  phase 2 – brokers – H  phase 3 – entire market - move to T+3 – soon after phase 2  Market Steercom & ASISA T+3 WG  Equity Market Business Model  trading model  clearing & settlement model  margining  collateral management  membership model  billing model

3 Update –Strate Projects  Replace Bonds settlement system & SOR for bonds  Tri-Party Collateral Management  administrative burden - valuations, mark to market, substitution, dispute resolution  service offering to: asset & hedge fund managers, life co’s, SLB desks, corporate treasuries  Trade Repository – OTC derivative trades

Developments – Investments environment  Legal Entity Identifier  G20 & Financial Stability Board  unique identifier of participants to financial transactions  requirement for OTC derivatives reporting  determine exposure to legal entity  have to decide the process and issuer of LEI in SA  Centralized FICA Service  feasibility of an efficient FICA screening and record-keeping service with an electronic interface utilising a centralised database(s)  should alleviate the administration burden and duplication of FICA requirements  should consider the legislative impact of such a service 4

Developments – Payments environment  SARB – Review: debit & stop orders, early debit orders  ensure fair & equitable collections  level playing fields  review processing order, item limits  propose Authenticated Credit Transfer (ACT) concept  Payments to Government employees  payroll deduction – no bank account detail  refund premiums, bonus payments 5

6 Market Statistics  CIS Stats: FSB requirements  Mandated Portfolio Stats  Annual  Information aggregated in composites  Listed = security level / un-listed = asset class level  Interest bearing inv. – issuer groups and duration bands  Testing/implementation – June/July 2013