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  1. HomeRegulation news
  2. FSCA licences Strate as trade repository
Regulation news

FSCA licences Strate as trade repository


29 November 2024 South Africa
Reporter: Daniel Tison

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Image: Wanlop/stock.adobe.com
The Financial Sector Conduct Authority of South Africa (FSCA) has granted Strate, South Africa’s central securities depository and central collateral platform, a licence to operate as a trade repository, collecting and maintaining trade records.

According to the FSCA, this collection of data fosters transparency in the markets and assists the regulators with monitoring any build-up of concentration and systemic risk, which could also affect financial stability — as evidenced with the global financial crisis of 2008.

The authority adds: “Having a licensed trade repository is a significant milestone, which contributes towards the Group of Twenty (G20) financial sector reform programme, started in 2009.â€

Among other objectives, the G20 programme aims to reduce the systemic risk associated with trading OTC derivatives instruments by reporting them to a trade repository.

Strate’s licence approval follows an assessment against the peremptory requirements in the Financial Markets Act for granting a licence, the applicable subordinate legislation, as well as a public consultation.

The licence is subject to certain terms and conditions to ensure the trade repository operates efficiently to best serve the financial markets.
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