There are various different ways in which an asset may be transferred under South African law. Pledge: A pledge creates a real right over tangible movable property. The asset is placed in the possession of the pledge holder or secured party. In the case of cash, the pledge giver sets up a custody account in the name of the pledge holder. The pledge holder must retain possession of the asset, and is unable to use the asset or fruits of the asset. The pledged assets must also b

LCH recently announced that they will launch a client clearing service for repo trades. This is good news for banks as it will ease the balance sheet impact of repo trades with buy-side firms. Buy-side firms will now be able to clear their repo trades through the RepoClear service by using a bank as their clearing member. The buy-side client will not be able to access the RepoClear service directly, as the LCH needs to ensure that it is only ever facing exposure to approved C

In June 2016 the South African Securities Lending Association (SASLA) published a new version of the Annex to the Global Master Securities Lending Agreement (GMSLA) for use by South African parties. The Annex is an update of the older 2010 version. The 2016 version primarily deals with new legislation that has come into being since 2010, namely the Financial Markets Act, amendments to the Securities Transfer Tax Act and includes references in the Act of Insolvency provisions