Holes expected in South Africa’s draft clearing rules

Proposed regime could arrive this month, but scope will remain unclear

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Cape Town, South Africa

South Africa's over-the-counter derivatives clearing rules are set to be released before the end of the month, but crucial information about their scope will not arrive until the end of the year at the earliest, according to local dealers. Speaking at the Risk & Return South Africa conference in Cape Town yesterday, Anne Clayton, head of regulatory strategy and change at Absa Capital, said the draft rules will cover the licensing and registering of financial market infrastructures and OTC