Strate welcomes the FSB’s guideline on the provision of companies’ share register information

"Following concerns raised by Strate and other market players regarding the application and interpretation of certain clauses in the Financial Markets Act (FMA), we welcome the clarification in the FSB’s guideline and appreciate the level of attention with which the FSB has dealt with the matter. We look forward to providing this service to the market,” says Strate CEO Monica Singer.

Strate, as South Africa’s Central Securities Depository (CSD), keeps the centralised official record of shareholder information in South Africa. While one of its legal duties is to supply this shareholder information to issuers, Strate has historically also provided data vendors with the shareholder information for analytical purposes.

According to Maria Vermaas, the Head of Strate’s Legal & Regulatory Division, Strate is pleased with the way forward. "Strate is committed to managing the provision of relevant information to the South African financial markets in a manner that is transparent and guided by the country’s regulatory guidelines and best practices. We believe in inclusivity and strive to act in the best interest of all of our stakeholders,” she concludes, adding that Strate has published an updated Directive SA.8 to the market to incorporate the FSB’s guideline.

Strate will also be able to provide historic share register information to data vendors for the period since the FMA was implemented.

Strate is licensed as South Africa's Central Securities Depository (CSD) providing post-trade products and services to the financial markets. As the trusted independent provider of innovative post-trade products and services in Africa, Strate offers state-of-the-art technology, international expertise and global best practice to the financial markets.

 

Strate provides electronic settlement for securities - including equity, bond and derivative products, such as warrants, Exchange Traded Funds (ETFs), retail notes and tracker funds for Africa’s largest stock exchange, the Johannesburg Stock Exchange (JSE), as well as the settlement of money market securities for the South African market and equities for the Namibian Stock Exchange. It has recently added Collateral Management Services and new Asset Servicing products to its portfolio. Strate provides services to issuers for their investors in terms of the Companies Act (2008) and Financial Markets Act (FMA) (2012).