South Africa
World Cup trades hit fever pitch
As the dust settles on the World Cup and those that bought televisions on the basis that their national football team would win the tournament wonder how to match their rash expenditure with reality, Richard Jory reviews the copious research supporting…
Finger-pointing masks officials’ failures, says Sarb’s Marcus
South African Reserve Bank governor Gill Marcus says knee-jerk reforms ignore failure of policymakers to raise standards before crisis; sober, measured approach to reform only credible way forward
Citi strengthens emerging markets equity derivatives team
Citi has added four new hires to its CEEMEA operations as its equity derivatives platform pushes into emerging markets.
South Africa opts for Solvency II approach
Solvency II is not just an issue for European insurers. Faced with the increasingly global nature of the financial sector, South Africa’s financial regulator is bringing in its own version of the regulation. But the schedule to implementation is tight…
Regulation consternation
Firm proposals for regulating South African hedge funds are due by mid-2010. But some managers question the need for more regulation.
Uncertain liquidity ratios
Like their counterparts elsewhere, South African banks are bracing themselves for a round of changes to Basel II rules. But it is the implications for liquidity and not capital that most concern market participants.
Minor activity
Although South Africa is a major commodity producer, activity by local investors in commodities is minor compared with other markets. While there are efforts to stimulate greater interest, these are being hampered by foreign exchange controls.
Coming of age
$urendra Naidoo, risk management director and group head of operational risk at Standard Bank, believes the operational risk function can claim success when the firm’s business managers are educated to the level where they manage op risk themselves
Sponsored statement: The implied volatility surface in the presence of dividends
Standard Bank quantitative analyst Roelof Sheppard shows how absolute and proportional dividend payments give rise to arbitrage constraints on the implied volatility surface
Sponsored statement: FX e-commerce – shaping the future of the FX business environment
The electronic foreign exchange (eFX) market has been growing at an exponential rate, even during these uncertain times. This surge in use can be attributed to the advantages eFX has over the traditional methods of FX trading. In this article, Absa…
Risk South Africa rankings 2009
After the failure of Lehman Brothers, the global financial crisis has finally caught up with the South African derivatives market. Against this tough backdrop, Standard Bank has topped Risk's South Africa rankings once again. By Matt Cameron, with…
Absolutely fabulous
A readiness to adapt to changed market circumstances has generated an impressive track record for Cape Town-based Alpha Macro Managers’ Absolute Alpha Fund, helping it avoid the worst of last year’s market upset. By Mark Pengelly
A ripening market
Market dynamics and the chequered history of structured investments in South Africa have recently favoured vanilla products featuring capital protection. But some local issuers are gaining traction with more sophisticated offerings. John Ferry reports
Stung by BEE
Black economic empowerment has been a big source of profits for South African banks in recent years. But market turmoil means many deals are underwater, and some market participants have likened the situation to the US subprime mortgage crisis. Mark…
Adapt or fail
Since October last year, extreme movements in South Africa's foreign exchange rate have caused offshore hedge funds to exit the market, while dealers have been reluctant to take on risk. Those that remain active have had to adapt their behaviour. By Mark…
Rainy day funds
Exchange-traded funds (ETFs) have continued to gain traction in South Africa despite agitated markets. As a result, local ETF providers are extending their reach to new investors and asset classes - with some even looking to introduce exchange-traded…