The South African bond market will soon receive a new IT infrastructure for the custody and settlement of bonds, changing some of the practices and processes that have been in existence since 1991, so as to align to best practices used today.
The revolution is being spearheaded by the country’s Central Securities Depository, Strate, which owns the current bond settlement technology it had inherited from UNEXCor, following a merger between both parties in 2003. During 2017, Strate plans to implement its Debt Instrument Solution (DIS) project to replace the UNEXCor system, consequently introducing much-needed changes to the bonds settlement model, account structures within Strate, capital event payments and communication between issuers and Strate.
Sign up for free to read the full articleRegister Login with LinkedIn
Already have an account?Login
Download our Free Treasury App for mobile and tablet to read articles – no log in required.Download Version Download Version