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JSE powers exotic derivatives offering with SuperDerivatives market data
May 24, 2011-- SuperDerivatives (SD), the derivatives benchmark and multi-asset front office system, announced today that it will provide the market data to power the Johannesburg Stock Exchange’s (JSE) new exotic currency options offering, namely the ‘any-day expiry’ contracts.
In response to growing demand from a number of South African banks, the JSE will be launching a set of exotic currency products. These derivatives give investors the advantages of listed derivatives with the flexibility of over-the-counter contracts. Investors can negotiate the terms of an option contract, choosing the underlying asset as well as the expiry date.
The JSE will feed in SD’s independent market data to enable accurate calculation of daily closing prices, ensuring investors are equipped with the most accurate information to inform trading decisions.
Warren Geers, General Manager of Trading at the JSE, said: “As the South African listed derivatives market develops and matures, investors are seeking more complex structures, such as non-vanilla/standardised options, in order to hedge their specific risk profiles. These exotic products are often illiquid and difficult to price – however with SuperDerivatives’ market data we can be sure that investors know the true market value of the derivatives they trade with us. Accurate data is an essential component of increasing transparency and improving confidence and liquidity in this market overall.”
Maria Johansson, Regional Sales Manager UK and Africa at SD added: “Our data is sourced from trading desks at close to a hundred global and local interdealer brokers, market makers, exchanges and trading platforms as well as top data aggregators. These true live market rates are then acid tested in real-time in the marketplace by active traders.
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Source: JSE Limited
May 24, 2011--South African bonds were firm but off the session's best levels in late trade on Tuesday. Earlier, a local trader said liquidity was thin and the market had remained more bid than offered
By 15:50, the benchmark R157 bond was trading at 7.560% from its previous close of 7.580%. The R207 was bid at 8.315% and offered at 8.305% from 8.340% and the R186 was bid at 8.515% and offered at 8.495% from 8.520%.
Source: FIN24
May 24, 2011--The JSE made a comeback before the close on Tuesday, despite lingering concerns over sovereign debt in Europe, as local investors scooped bargains and felt emboldened by their enthusiastic global counterparts.
While the euro-zone debt concerns remained, no further news perpetuated gloom over the European troubles, said Kevin Algeo, portfolio manager at Imara SP Reid.
Source: FIN24
May 23, 2011--A softer rand forced bonds onto the back foot on Monday, with the market down around four basis points on the day.
By 15:45, the benchmark R157 bond was trading at 7.590% from its previous close of 7.550%. The R207 was bid at 8.355% from 8.300% and the R186 was trading at 8.520% from 8.465%.
Source: FIN24
May 23, 2011-- The JSE ended a volatile, gloomy session on Monday on a sharply lower note in trading dominated by renewed debt woes in Europe and worries over slowing Chinese growth. Stock markets worldwide fell in tandem.
"There is heightened risk-aversion, which has seen the rand weaken and industrial metals (in particular) fall," said Kevin Algeo, portfolio manager at Imara SP Reid.
Source: FIN24
May 23, 2011--The rand fell 1.8% against the dollar to a week low on Monday, extending earlier losses as investors turned their backs on riskier holdings.
Government bonds were dragged weaker by the currency in a thin market that kept local dealers away at current levels.
Source: FIN24
May 23, 2011-- The National Treasury called for comments on a draft financial sector policy document entitled A safer financial sector to serve South Africa better on Monday.
"Given the complexity of the proposed reforms, the National Treasury will be accepting comments on the document until June 30 2011,” it said.
Source: FIN24
May 20, 2011--Resource-rich Africa is set to be the world's next investment destination thanks to an array of reforms sweeping across many previously troubled countries, a former Nigerian leader said on Wednesday.
Olusegun Obasanjo, in office in Nigeria for eight years until 2007, said that after many years of stagnation the continent's economies saw a sharp growth in the past decade. Real GDP increased by 5.2% annually, compared with 2.3% in the 1990s.
Source: FIN24
May 20, 2011--News of a downgrade in Greece's foreign and local-currency ratings led global stocks and the JSE weaker on Friday afternoon. The local bourse ended the week 124 points weaker.
By 17:00 local time, the JSE All Share [JSE:J203] index was off 0.39%, with banks falling 0.78%, resources 0.70% lower, and financials off 0.35%. Gold miners shed 0.30%, while industrials gave up 0.12%. Platinum miners were flat (-0.06%).
Source: FIN24
May 20, 2011--South African bonds painted a mixed picture in late trade on Friday.
The longer end was firmer on the back of a bout of offshore buying, while the benchmark R157 was slightly weaker in line with the local currency.
Source: FIN24
