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Strate CSD
Strate (for Share Transactions Totally Electronic Limited) is the main central securities depository (CSD) in South Africa. Overview In 1989, the South African Reserve Bank partnered with the country's major banks to create UNEXCor, an electronic settlement system for the South African bond market. Two years later, Central Depository Limited (CD Ltd) was established to provide electronic settlement and depository services. In May 1994, UNEXCor became a clearing house for the bond market. The initiative to create Strate started in 1996 and led to its incorporation in November 1998. On , a shareholders' was made between Absa Bank, Citibank, First National Bank (South Africa), First National Bank, JSE Limited, Mercantile Bank (South Africa), Mercantile Bank, Nedbank and Standard Bank to define the objectives assigned to Strate. UNEXCor was subsequently merged into Strate in 2003. Subsequently, Strate has been owned by the JSE (44.55 percent), Nedbank and Standard Bank (15 percent eac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Central Securities Depository
A central securities depository (CSD) is a specialized financial market infrastructure organization holding securities such as shares or bonds, either in certificated or uncertificated ( dematerialized) form, allowing ownership to be easily transferred through a book entry rather than by a transfer of physical certificates. This allows brokers and financial companies to hold their securities at one location where they can be available for clearing and settlement. In recent decades this has usually been done electronically, making it much faster and easier than was traditionally the case where physical certificates had to be exchanged after a trade had been completed. In some cases these organizations also carry out centralized comparison and transaction processing such as clearing and settlement of securities transfers, securities pledges, and securities freezes. In modern corporate debt markets, investors achieve collateralization through CSDs. The CSDs operate as trustee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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South Africa
South Africa, officially the Republic of South Africa (RSA), is the Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of coastline that stretches along the Atlantic Ocean, South Atlantic and Indian Ocean; to the north by the neighbouring countries of Namibia, Botswana, and Zimbabwe; to the east and northeast by Mozambique and Eswatini; and it encloses Lesotho. Covering an area of , the country has Demographics of South Africa, a population of over 64 million people. Pretoria is the administrative capital, while Cape Town, as the seat of Parliament of South Africa, Parliament, is the legislative capital, and Bloemfontein is regarded as the judicial capital. The largest, most populous city is Johannesburg, followed by Cape Town and Durban. Cradle of Humankind, Archaeological findings suggest that various hominid species existed in South Africa about 2.5 million years ago, and modern humans inhabited the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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South African Reserve Bank
The South African Reserve Bank (SARB) is the central bank of South Africa. It was established in 1921 after Parliament passed an act, the "Currency and Bank Act of 10 August 1920", as a direct result of the abnormal monetary and financial conditions which World War I had brought. The SARB was only the fourth central bank established outside the United Kingdom and Europe, the others being the Federal Reserve, Bank of Japan and Bank of Java. The earliest suggestions for the establishment of the Central Bank in South Africa date back to 1879. A select committee, of ten members of Parliament, was established on 31 March 1920 to examine the benefits to the national interest of the establishing of the central bank. Following on the recommendations of the committee, the South African Reserve Bank opened for business on 30 June 1921, making it the oldest central bank in Africa. The first banknotes were issued to the public by the Bank on 19 April 1922. Unlike the Bank of England, whi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Absa Bank
Absa Bank Limited, formerly known as the Amalgamated Banks of South Africa, is a commercial bank in South Africa and the flagship bank of Absa Group. It is licensed by the Reserve Bank of South Africa, the central bank and national banking regulator. Location The bank's headquarters are located on the 7th Floor of Absa Towers West, 15 Troye Street, Johannesburg, South Africa. The geographic coordinates of the bank's headquarters are: 26°12'23.0"S 28°02'57.0"E (Latitude:-26.206389; Longitude:28.049167). Overview Absa Bank Limited is one of the largest commercial banks in South Africa. As of 31 December 2018, the bank's total assets were ZAR:1,289,000,000,000 (US$73,691,500,000). Absa Bank Limited is a 100 percent subsidiary of Absa Group Limited, the Pan African financial services conglomerate headquartered in South Africa, with subsidiaries in 12 African countries, whose total assets exceeded US$91 billion as at October 2019. The shares of the stock of Absa Group Limited, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Citibank
Citibank, N.A. ("N. A." stands for "National bank (United States), National Association"; stylized as citibank) is the primary U.S. banking subsidiary of Citigroup, a financial services multinational corporation, multinational corporation. Citibank was founded in 1812 as City Bank of New York, and later became First National City Bank of New York. The bank has branch (banking), branches in 19 countries. The U.S. branches are concentrated in six metropolitan areas: New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami. As of 2023, Citibank is the third-largest bank in the United States in terms of assets. History Founding 19th century The City Bank of New York was founded on June 16, 1812. The first president of the City Bank was the statesman and retired Colonel, Samuel Osgood. After Osgood's death in August 1813, William Few became President of the bank, staying until 1817, followed by Peter Stagg (1817–1825), Thomas Smith (1825–1827), Isaac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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First National Bank (South Africa)
First National Bank (FNB; ) is one of South Africa's " big four" banks. It is a division of FirstRand, a large financial services conglomerate, which trades on the Johannesburg Securities Exchange (JSE), under the symbol: FSR. FNB is also listed on the Botswana Stock Exchange under the symbol FNBB and is a constituent of the BSE Domestic Company Index. Overview FNB is one of the three major divisions of the FirstRand Group, and the others being Rand Merchant Bank and Wesbank. First National Bank maintains banking subsidiaries which it owns wholly or in part, in Botswana, Mozambique, Namibia, South Africa, Eswatini, Tanzania, Zambia, Ghana, India, Lesotho and Guernsey. FNB is also actively pursuing expansion plans in Angola and Nigeria. Media reports in May 2012 indicated that the bank is also making plans to expand into Kenya, Rwanda and Uganda. History FNB is the oldest bank in South Africa. It traces its origins back to the ''Eastern triocrees Province Bank'', which wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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JSE Limited
JSE Limited (previously the JSE Securities Exchange and the Johannesburg Stock Exchange) is the largest stock exchange in Africa. It is located in Sandton, Johannesburg, South Africa, after it moved from downtown Johannesburg in 2000. In 2003 the JSE had an estimated 473 listed companies and a market capitalisation of US$182.6 billion (€158 billion), as well as an average monthly traded value of US$6.399 billion (€5.5 billion). As of March 2022, the market capitalisation of the JSE was at US$2.35 trillion. History The discovery of gold on the Witwatersrand in 1886 led to many mining and financial companies opening and a need soon arose for a stock exchange. The first share transactions on the Rand took place in a rustic canvas tent, with trade taking place on Sundays, as this was the only day when mining was not allowed, owing to a strictly enforced regulation prohibiting the entry of African workers to the gold reefs. The ''Johannesburg Exchange & Chambers Company'' wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Mercantile Bank (South Africa)
Mercantile Bank Limited is a South African commercial bank, founded in 1965. It was previously called Bank of Lisbon International. The bank is headquartered in Sandton, South Africa, and provides products and services in retail banking, corporate finance, asset management, equity brokerage and security. It is a fully owned subsidiary of Mercantile Bank Holdings Limited, which in turn is owned by the holding company registered in Portugal – Caixa Geral de Depósitos S.A. In 2019, Capitec Bank bought Mercantile Bank South Africa. In October 2019, the South African Minister of Finance and other Regulatory Authorities formally approved Capitec's purchase and acquisition of Mercantile Business Bank. As of November 2019, Capitec Bank bought all the shares of Mercantile Bank Ltd from CGD and serves as its business banking branch. It has more than 15 branches in South Africa, and employs between 501 and 1000 employees. History The bank was founded in Republic of South Africa in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Nedbank
Nedbank Group is a financial services group in South Africa offering wholesale and retail banking services as well as insurance, asset management, and wealth management. Nedbank Limited is a wholly owned subsidiary of Nedbank Group. Headquartered in Sandton, Gauteng, Nedbank's primary market is South Africa. Nedbank also operates in five other countries in the Southern African Development Community (SADC), through subsidiaries and banks in Eswatini, Lesotho, Mozambique, Namibia and Zimbabwe, as well as in offices in Ghana and Kenya. Outside Africa, Nedbank provides international financial services in the Isle of Man, Jersey, Guernsey, the United Kingdom, and the United Arab Emirates. Nedbank is headquartered at 135 Rivonia Road in Sandton. History The bank was founded in 1888, in Amsterdam as the ''Nederlandsche Bank en Credietvereeniging voor Zuid-Afrika'' ("Dutch Bank and Credit Union for South Africa"). In August that year, the bank opened an agency in Church Street, Preto ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Standard Bank
Standard Bank (officially Standard Bank Group Limited) is the largest bank in Africa, as well as the continent's biggest lender by assets. The company's corporate headquarters, Standard Bank Centre, is located in Johannesburg, Gauteng. The bank has a presence in over 20 Sub-Saharan African countries, 4 global centers, and 2 offshore hubs, for a total of 26 countries of operation. History The bank now known as Standard Bank was formed in 1862 as a South African subsidiary of the British overseas bank Standard Bank, under the name The Standard Bank of South Africa. The bank's origins can be traced to 1862, when a group of businessmen led by the prominent South African politician John Paterson formed a bank in London, initially under the name Standard Bank of British South Africa. The bank started operations in 1863 in Port Elizabeth, South Africa, and soon after opening it merged with several other banks including the ''Commercial Bank of Port Elizabeth'', the Colesberg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Exchange-traded Fund
An exchange-traded fund (ETF) is a type of investment fund that is also an exchange-traded product, i.e., it is traded on stock exchanges. ETFs own financial assets such as stocks, bonds, currencies, debts, futures contracts, and/or commodities such as gold bars. Many ETFs provide some level of diversification compared to owning an individual stock. An ETF divides ownership of itself into shares that are held by shareholders. Depending on the country, the legal structure of an ETF can be a corporation, trust, open-end management investment company, or unit investment trust. Shareholders indirectly own the assets of the fund and are entitled to a share of the profits, such as interest or dividends, and would be entitled to any residual value if the fund undergoes liquidation. They also receive annual reports. An ETF generally operates with an arbitrage mechanism designed to keep it trading close to its net asset value, although deviations can occur. The larges ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
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Euroclear
Euroclear, or the Euroclear Group, is a Belgium-based financial market infrastructure group that specialises in the central securities depository (CSD) segment. It traces its origins to the Euro-clear System developed in 1968 by Morgan Guaranty (a predecessor of JPMorgan Chase) in Brussels to settle trades on the then developing eurobond market. The service was rebranded Euroclear (without hyphen) in 1990. In late 2000, the Euroclear System was transferred to a new entity, Euroclear Bank, a fully-owned subsidiary of the Euroclear Group that has remained one of the world's two leading international CSDs, the other being Clearstream Banking SA in nearby Luxembourg. Other entities of the Euroclear group include major national CSDs acquired by Euroclear in the 2000s in Belgium, Finland, France, the Netherlands, Sweden, and the UK. The name "Euroclear" is often misinterpreted as indicating a clearing activity of the Euroclear group, which is actually not the case. This confusion co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |